Hudson Global Posts 15 Percent Revenue Dip

March 2, 2014 – Hudson Global/(NASDAQ:HSON) has posted fourth quarter 2013 revenues of $159.5 million, a decrease of 13.4 percent from the $184.3 million recorded in the fourth quarter of 2012. The company recorded a net loss of $11.3 million, or $0.35 per basic and diluted share, compared with net loss of $0.3 million, or $0.01 per basic and diluted share, a year ago. For the full year, Hudson Global recorded revenues of $660.1 million, a decline of 15.1 percent from 2012. The company recorded a net loss of $30.4 million, or $0.94 per basic and diluted share, compared with net loss of $5.3 million, or $0.17 per basic and diluted share, the prior year. Stephen Nolan, CFO at Hudson, said: “Given the progress we have made on the cost structure over the past two years and the positive momentum we are experiencing in some of our business units and markets, we expect to show further traction in 2014. We intend to keep a sharp eye on costs, continue to maintain a strong liquidity position and ensure that we strengthen the operating rigor we have established in recent months.”