August 27, 2009 – Hudson Highland Group, Inc./(NASDAQ:HHGP) has posted second quarter 2009 revenues of $173.8 million, a decrease of 42.6 percent from $303.1 million a year ago. The company posted a net loss of $17.8 million, or $0.68 per basic and diluted share, compared with net income of $5.0 million, or $0.20 per basic and $0.19 per diluted share, for the second quarter of 2008. During the quarter, Hudson Highland received $11.6 million from Heidrick & Struggles for the final earn-out from the sale of Highland Partners in 2006. "Our recent office restructuring actions and additional cost reductions are helping to position the company for a profitable future when the recovery takes hold," said Mary Jane Raymond, the company's executive vice president and CFO. "We expect our adjusted EBITDA in the second half of 2009 to improve over the first half of the year, notwithstanding a possible seasonal decline in the third quarter. We expect cash trends to improve as well."
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