 OLD GREENWICH, Conn., Aug. 05, 2020 GLOBE NEWSWIRE -- Hudson Global, Inc. Nasdaq: HSON, a leading global total talent solutions company, announced today financial results for the second quarter ended June 30, 2020.2020 Second Quarter Summary Revenue of 24.6 million decreased 7.0 from the second quarter of 2019 3.0 in constant currency. Adjusted net revenue of 8.9 million decreased 23.4 from the second quarter of 2019 21.3 in constant currency. Net loss improved to 0.8 million, or 0.27 per basic and diluted share, from a net loss of 0.9 million, or 0.29 per basic and diluted share, for the second quarter of 2019. Adjusted net loss per diluted share Non-GAAP measure was 0.13 versus 0.07 in the second quarter of 2019. Adjusted EBITDA Non-GAAP measure loss was 0.4 million compared to adjusted EBITDA of 0.3 million in the second quarter of 2019. Share count reduced by 16 since December 31, 2018. Total cash including restricted cash was 29.9 million at June 30, 2020.Our business in the second quarter of 2020 was impacted by the challenging macroeconomic environment caused by COVID-19, said Jeff Eberwein, Chief Executive Officer of Hudson Global. Our Asia Pacific region performed the best, growing revenue and adjusted EBITDA versus the prior year. Globally, we have now right-sized the business to better match clients current needs while retaining the ability to respond quickly as activity rebounds.Mr. Eberwein continued, Our top priority during this difficult time continues to be the health and safety of our team and clients. We are pleased with the resilience of our business thus far, which is a testament to the strength of our clients and the flexibility of our team. Our partnerships with our clients have deepened during this challenging time, and we are well positioned to emerge from this crisis as a stronger partner for our clients. The Company provides Non-GAAP measures as a supplement to financial results based on accounting principles generally accepted in the United States GAAP. Adjusted EBITDA, EBITDA, and adjusted net loss per diluted share are defined in the segment tables at the end of this release and a reconciliation of such Non-GAAP measures to the most directly comparable GAAP measures is included within such segment tables.Regional HighlightsAsia PacificAsia Pacific revenue of 18.8 million increased 14 while adjusted net revenue of 4.8 million decreased 7 in constant currency in the second quarter of 2020 compared to the same period in 2019. EBITDA was 1.0 million in the second quarter compared to EBITDA of 0.4 million in the same period one year ago, and adjusted EBITDA was 1.0 million compared to adjusted EBITDA of 0.7 million in the second quarter of 2019.AmericasIn the second quarter of 2020, Americas revenue of 2.2 million decreased 44, while adjusted net revenue of 1.9 million decreased 47 in constant currency from the second quarter of 2019. EBITDA loss was 0.9 million in the second quarter compared to EBITDA of 0.4 million in same period of last year. The region recorded an adjusted EBITDA loss of 0.6 million compared to adjusted EBITDA of 0.6 million a year ago.EuropeEurope revenue in the second quarter of 2020 declined 27 to 3.5 million, and adjusted net revenue of 2.2 million decreased 14 in constant currency from the second quarter of 2019. EBITDA was 0.3 million in the second quarter of 2020 compared to breakeven EBITDA in the same period of 2019. Adjusted EBITDA was 0.1 million for the second quarter of 2020 compared to adjusted EBITDA of 0.2 million a year ago.Corporate CostsIn the second quarter of 2020, the Companys corporate costs were 0.8 million compared to 1.2 million in the prior year quarter. Corporate costs in the second quarter of 2020 period excluded non-recurring expenses of 0.1 million compared to 0.7 million in the second quarter of 2019.Liquidity and Capital ResourcesThe Company ended the second quarter of 2020 with 29.9 million in cash, including 0.4 million in restricted cash. The Company generated 1.9 million in cash flow from operations during the second quarter of 2020, compared to using 1.5 million of cash flow from operations in the second quarter of 2019.Share Repurchase ProgramThe Company has reduced its share count by 16 since December 31, 2018 and continues to view share repurchases as an attractive use of capital. Under its 10 million common stock share repurchase program, the Company has 1.7 million remaining.COVID-19 UpdateAs disclosed in previously issued Company press releases as well as in our 2019 Form 10-K and first quarter 2020 Form 10-Q, our business has been adversely impacted by the COVID-19 outbreak and the accompanying economic downturn. This downturn, as well as the uncertainty regarding the duration, spread and intensity of the outbreak, led to an initial reduction in demand for our services in the first and second quarter of 2020. Some of our customers have instituted hiring freezes, while other customers that are more capable of working remotely have been allowed to operate somewhat 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 business environment surrounding COVID-19 and continues 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.Conference CallWebcastHudson will conduct a conference call today at 10:00 a.m. ET to discuss this announcement. Individuals wishing to listen can access the webcast on the investor information section of the Companys web site at hudsonrpo.com.If you wish to join the conference call, please use the dial-in information below: Toll-Fee Dial-In Number: 866 220-5784 International Dial-In Number: 615 622-8063 Conference ID : 4565667The archived call will be available on the investor information section of the Companys web site at hudsonrpo.com.About Hudson GlobalHudson Global, Inc. is a leading global total talent solutions provider operating under the brand name Hudson RPO. We deliver innovative, customized recruitment outsourcing and total talent solutions to organizations worldwide. Through our consultative approach, we develop tailored talent solutions designed to meet our clients strategic growth initiatives. As a trusted advisor, we meet our commitments, deliver quality and value, and strive to exceed expectations.For more information, please visit us at hudsonrpo.com or contact us at Relations: The Equity Group Lena Cati 212 836-9611 StatementsThis press release contains statements that the company believes to be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact included in this press release, including statements regarding the companys future financial condition, results of operations, business operations and business prospects, are forward-looking statements. Words such as anticipate, estimate, expect, project, intend, plan, predict, believe and similar words, expressions and variations of these words and expressions are intended to identify forward-looking statements. All forward-looking statements are subject to important factors, risks, uncertainties, and assumptions, including industry and economic conditions that could cause actual results to differ materially from those described in the forward-looking statements. 