Hudson Global (NASDAQ: HSON) reported Q4 EPS of $0.48, versus ($0.19) reported last year. Revenue for the quarter came in at $25.4 million versus the consensus estimate of $27.6 million.

2019 Fourth Quarter Summary

• Revenue of $25.4 million increased 53.5 percent from the fourth quarter of 2018, or 56.6 percent in constant currency.
• Revenue less certain direct costs of $11.1 million increased 8.3 percent from the fourth quarter of 2018, or 10.3 percent in constant currency.
• Net income improved to $1.5 million, or $0.48 per basic and diluted share, from a net loss of $0.6 million, or $0.19 per basic and diluted share, in the fourth quarter of 2018.
• Adjusted EBITDA (Non-GAAP measure)* improved to $0.9 million from an adjusted EBITDA loss of $0.3 million in the fourth quarter of 2018.

“We delivered solid growth in the fourth quarter, particularly in Europe and Australia,” said Jeff Eberwein, chief executive officer at Hudson Global. “In addition, we are pleased to report positive adjusted EBITDA, cash flow from operations, and net income for the fourth quarter. For the full year, we delivered revenue growth while also reducing corporate costs enabling us to generate positive adjusted EBITDA for 2019, a milestone event for our company.”

COVID-19 Update

As disclosed in the Company's press release issued March 13, 2020 as well as in our 2019 Form 10-K, our business may be adversely impacted by the recent COVID-19 outbreak and the accompanying economic downturn. This downturn, as well as the uncertainty regarding the duration, spread and intensity of the outbreak, has led to an initial reduction in demand for our services. Some of our customers have instituted hiring freezes, while other customers that are more capable of working remotely have been allowed to operate as usual. The expected timeline for this reduction in demand for our services remains uncertain and difficult to predict considering the rapidly evolving landscape.

The Company is vigilantly monitoring the situation surrounding COVID-19 and will continue to proactively address this situation as it evolves. The Company is confident that it can continue to take appropriate actions to manage the business in this challenging environment due to the flexibility of its workforce and the strength of its balance sheet.

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