Gaining traction with sequential quarterly improvements compared to first quarter 2013 in revenue, gross margin and EBITDA
Attracting world-class talent, increasing emphasis on disciplined execution
NEW YORK, July 31, 2013 (GLOBE NEWSWIRE) -- Hudson Global, Inc. (Nasdaq:HSON), a leading global talent solutions company, today announced financial results for the second quarter ended June 30, 2013.2013 Second Quarter Summary
- Revenue of $171.4 million, down 16.3 percent from the second quarter of 2012, or 15.5 percent in constant currency. Sequentially, revenue was up 3.4 percent or 5.4 percent in constant currency.
- Gross margin of $60.5 million, a 21.5 percent decrease from the same period last year, or 21.1 percent in constant currency. Sequentially, gross margin increased 6.8 percent or 8.8 percent in constant currency.
- Adjusted EBITDA loss* of $2.5 million, including $0.7 million of costs related to the chief financial officer transition, as compared with positive $3.7 million in the same period last year. Sequentially, adjusted EBITDA improved 48.8 percent or 50.2 percent in constant currency.
- Restructuring charges of $1.2 million in the second quarter of 2013, compared with $5.1 million in the second quarter of 2012 and $2.0 million in the first quarter of 2013.
- Net loss of $5.8 million, or $0.18 per basic and diluted share, as compared with net income of $0.4 million, or $0.01 per basic and diluted share in the same period last year. Sequentially, net loss improved 29.5 percent.