Hudson Global (NASDAQ: HSON) reported Q1 EPS of ($0.06), versus ($0.33) reported last year. Revenue for the quarter came in at $16.2 million, versus $16.22 million reported last year.

• Revenue of $16.2 million decreased by 0.2 percent from the same period in 2018 and increased 9.2 percent in constant currency.
• Gross profit of $9.4 million decreased 7.5 percent from the first quarter of 2018 and decreased 2.5 percent in constant currency.
• Net loss of $1.9 million, or $0.06 per basic and diluted share, compared to net income of $10.7 million, or $0.33 per basic and diluted share, for the first quarter of 2018. The results in the first quarter of 2018 included net loss from continuing operations of $2.9 million and income from discontinued operations of $13.6 million related to the sale of the recruitment and talent management businesses.
• Adjusted EBITDA (Non-GAAP measure)* loss of $1.8 million compared to adjusted EBITDA loss of $2.2 million in the first quarter of 2018.
• Reduced shares outstanding by approximately 8%.

“The Asia Pacific region once again led with the strongest performance while results in Europe and the Americas were mixed," said Jeff Eberwein, chief executive officer at Hudson Global. Mr. Eberwein continued, "With a significant transition year in 2018 behind us, our global RPO business is now primed for growth. We have an exciting new client relationship starting in Australia in Q2 and several other new client wins ramping up in all three regions as the year unfolds. We reaffirm our 2019 guidance for revenue and gross profit growth to exceed 10% versus 2018 and for Adjusted EBITDA to grow faster than this rate.”

Business Outlook

For 2019, the company continues to expect to grow revenue and gross profit more than 10 percent versus 2018, and adjusted EBITDA before corporate costs should grow faster than this rate. This combination of growth in its RPO business and reduction in corporate costs should enable the company to generate positive adjusted EBITDA in 2019.

For earnings history and earnings-related data on Hudson Global (HSON) click here.