Hudson Global Inc. News Release (07/31/2012)
Hudson Global Inc. today announced financial results for the second quarter ended June 30. Revenue of $204.8 million for the quarter represented a decrease of 17.2% from the same period in 2011, or 13.8% in constant currency.
Hudson Americas’ revenues decreased 5% in the second quarter compared with the prior-year period. Permanent recruitment revenues grew by 41%. Temporary contracting revenues declined by 16%, primarily due to reduced project demand in Legal eDiscovery, compared with a strong second quarter a year ago. Selling, general, and administrative expenses were tightly controlled through both restructuring and strong cost management, resulting in a year-over-year reduction of 11%.