Hudson Global Records 12.9 Percent Revenue Decline

November 3, 2013 – Hudson Global/(NASDAQ:HSON) has posted third quarter 2013 revenues of $163.6 million, down 12.9 percent from the third quarter of 2012. The company recorded a net loss of $5 million, or $0.15 per basic and diluted share, as compared with net loss of $2.2 million, or $0.07 per basic and diluted share in the same period last year. Americas’ gross margin decreased five percent in the third quarter as compared with the same period in 2012. Weak economic conditions and reduced hiring in Australia contributed to a gross margin decline of 23 percent in constant currency in Asia Pacific from the prior year period. Said Manuel Marquez, chairman and CEO: “Despite the anticipated difficult conditions in several major markets, particularly Australia, we believe the business is trending positively overall, and we are gaining momentum as we continue to reduce our cost base while investing selectively to drive top-line growth.”

Share This Article


Notify of
Inline Feedbacks
View all comments