OLD GREENWICH, Conn., Nov. 12, 2024 (GLOBE NEWSWIRE) -- Hudson Global, Inc. (Nasdaq: HSON) ("Hudson Global" or "the Company"), a leading global total talent solutions company, announced today financial results for the third quarter ended September 30, 2024. 2024 Third Quarter Summary Revenue of $36.9 million decreased 6.5% from the third quarter of 2023 and 8.1% in constant currency.Adjusted net revenue of $18.6 million decreased 4.0% from the third quarter of 2023 and 5.2% in constant currency.Net loss was ...

Financial Performance - Revenues for the three months ended September 30, 2024, were $61,943,000, a decrease of 18.9% compared to $76,496,000 for the same period in 2023[7] - Gross profit for the nine months ended September 30, 2024, was $59,934,000, down 38.4% from $97,537,000 in the prior year[7] - Operating income for the three months ended September 30, 2024, was $6,973,000, a decline of 69.9% from $23,122,000 in the same quarter of 2023[7] - Net income for the three months ended September 30, 2024, was $7,806,000, compared to $13,582,000 for the same period in 2023, representing a decrease of 42.5%[7] - Basic net income per common share for the three months ended September 30, 2024, was $0.17, down from $0.30 in the prior year[7] - Total operating expenses for the nine months ended September 30, 2024, were $27,387,000, an increase of 13.0% from $24,105,000 in the previous year[7] - The company reported a net income of $26,953,000 for the nine months ended September 30, 2024, down from $48,302,000 in the same period of 2023[7] - Net income for the nine-month period ended September 30, 2024, was $26.953 million, a decrease from $48.302 million in the same period of 2023[12] Cash Flow and Liquidity - Cash provided by operating activities increased to $71.103 million from $43.518 million year-over-year[12] - Cash and cash equivalents at the end of the period were $56.487 million, up from $3.783 million at the end of the previous year[12] - The company reported a loss on extinguishment of debt amounting to $3.427 million in the previous period[12] - Cash paid for interest in the nine-month period was $0.529 million, compared to $4.232 million in the same period of 2023[12] Acquisitions and Growth - The company completed the acquisition of USA Refrigerants for approximately $20.7 million in cash, with a potential contingent payment of up to $2.0 million[18] - The acquisition is expected to enhance the company's refrigerant distribution capabilities and broaden its customer network[19] - The fair value of the assets acquired from the USA Refrigerants Acquisition included inventories valued at $5.1 million and customer relationships valued at $1.1 million[111] - The Company incurred $0.3 million in acquisition costs related to the USA Refrigerants Acquisition, included in selling, general, and administrative expenses[113] Inventory and Assets - The company reported an increase in inventories to $52.189 million, compared to $8.341 million in the previous year[12] - The Company reported total inventories of $103.5 million as of September 30, 2024, down from $154.5 million as of December 31, 2023, reflecting a decrease of approximately 33%[65] - The Company’s total property, plant, and equipment amounted to $20.1 million as of September 30, 2024, compared to $19.4 million as of December 31, 2023, indicating a growth of about 3.7%[66] Shareholder Equity and Stock - The balance of common stock as of September 30, 2024, was $452,000, with total stockholders' equity amounting to $253,895,000[9] - The company authorized a share repurchase program of up to $10 million for 2024 and 2025, with 326,028 shares repurchased for $2.6 million at an average price of $8.06 per share during the quarter ended September 30, 2024[114] - The Company has increased its share repurchase program to allow for up to $20 million in total purchases[180] Market and Regulatory Environment - The company received allocation allowances for HFC consumption equal to approximately 1% for the years 2023 and 2024 under the AIM Act[21] - The EPA's final Refrigerant Management Rule mandates better management and reuse of existing HFCs, which will support the company's reclamation efforts[22] - The EPA's AIM Act mandates a cumulative 40% reduction in HFC production and consumption from baseline levels between 2024 and 2029[21] Operational Challenges - The Company is exposed to market risks from fluctuations in refrigerant demand, price, and availability, which could adversely affect revenue[175] - The Company reported that inflation has impacted salaries and wages but less so on other operational aspects[167] - The Company's operating results are seasonal, with peak refrigerant sales occurring in the first nine months of each year[173]

OLD GREENWICH, Conn., Nov. 08, 2024 (GLOBE NEWSWIRE) -- Hudson RPO, a leading global total talent solutions company owned by Hudson Global, Inc. (NASDAQ: HSON) (the “Company”), announced today that it was named as the No. 1 overall recruitment process outsourcing (RPO) provider in APAC according to HRO Today magazine’s Baker’s Dozen list of top enterprise providers. As part of this overall ranking for APAC, Hudson RPO ranked No. 1 for quality of services, and No. 2 in both breadth of services and size of de ...

This article on Hudson Technologies, Inc. (NASDAQ: HDSN ) was long overdue. Back in May, I disclosed I was buying more of Hudson during market turbulence. Let me say it right away: I am still long, even though the I focus on long term growth and dividend growth investing. I follow both the US and the European stock markets, looking for undervalued stock and/or for high quality dividend growing companies that provide me with cash to reinvest. Over time, I have come to realize that profitability is a much saf ...

Financial Data and Key Metrics - Q3 2024 revenue decreased by 19% YoY to $61.9 million, primarily due to lower refrigerant market prices and reduced revenue from the DLA contract [26] - Gross margin for Q3 2024 was 26%, down from 40% in Q3 2023, reflecting lower refrigerant prices [26] - Operating income for Q3 2024 was $7 million, compared to $23.1 million in Q3 2023 [27] - Net income for Q3 2024 was $7.8 million or $0.17 per diluted share, down from $13.6 million or $0.29 per diluted share in Q3 2023 [28] - The company ended the quarter with $56.5 million in cash and no debt [28] Business Line Data and Key Metrics - HFC-410A prices declined by 20% from Q2 2024 to approximately $6 per pound, representing 70% of total aftermarket demand for HFCs [9][10] - The company expects full-year revenue to be at the low end of prior guidance, with a gross margin of approximately 28% [12][30] Market Data and Key Metrics - HFC inventory levels decreased by 2% YoY to 378 million metric tons of CO2e as of December 31, 2023 [20] - HFC reclaim pounds grew by approximately 20% in 2023 compared to 2022 [16] - The company holds a 20%-plus market share for HFC reclaim pounds, with R-410A at approximately 25% [19] Company Strategy and Industry Competition - The company is focused on capitalizing on the HFC phasedown and the expected growth in demand for reclaimed refrigerants [11] - The EPA's final refrigerant management rule mandates the use of reclaimed refrigerants for servicing certain sectors starting in 2029, which is expected to drive industry adoption [13][15] - The company is working with industry partners to improve recovery practices and increase reclaim activity [16] Management Commentary on Operating Environment and Future Outlook - Management remains confident that HFC pricing will increase as demand outstrips supply due to the ongoing phasedown [10][11] - The company is concerned about the slow decline in HFC inventory levels and the potential need for a petition to the EPA to accelerate the phasedown [20][33] - The company expects Q4 gross margin to be traditionally lower due to seasonality [12][30] Other Important Information - The company repurchased $2.6 million in common stock during Q3 2024 and increased its share repurchase program to $20 million [29] - The company recognized $2.3 million in non-recurring other income related to a litigation settlement [27] Q&A Session Summary Question: Expectations for HFC pricing and inventory levels - Management expressed concern about the slow decline in HFC inventory levels and the potential need for a petition to the EPA to accelerate the phasedown [33] - The company is uncertain about the timing of price increases but believes supply/demand economics will eventually drive prices higher [41] Question: Integration of USA Refrigerants acquisition - The integration is progressing well, with new customers and additional sources of reclaimed refrigerant [36] - The company is applying USA Refrigerants' strategies to its existing customer base, particularly those acquired from Airgas [37] Question: Gross margin recovery timeline - Management expects gross margins to recover to 30% in the longer term, contingent on higher market prices and the use of lower-cost inventory pools [42] Question: DLA contract revenue - DLA contract revenue for Q3 2024 was approximately $9 million, with full-year expectations adjusted to mid-$30 million, down from $50 million-plus in 2023 [46]

Hudson Technologies (HDSN) came out with quarterly earnings of $0.17 per share, beating the Zacks Consensus Estimate of $0.16 per share. This compares to earnings of $0.34 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 6.25%. A quarter ago, it was expected that this refrigerant services company would post earnings of $0.26 per share when it actually produced earnings of $0.20, delivering a surprise of -23.08%.Over the last fo ...

Exhibit 99.1 HUDSON TECHNOLOGIES REPORTS THIRD QUARTER 2024 RESULTS · Third Quarter Revenue of $61.9 million · Net income of $7.8 million or $0.17 per diluted share · Strengthened balance sheet with $56.5 million in cash and no debt · Repurchased $2.6 million of common stock during the third quarter WOODCLIFF LAKE, NJ – NOVEMBER 4, 2024 – Hudson Technologies, Inc. (NASDAQ: HDSN) announced results for the third quarter and nine months ended September 30, 2024. Brian F. Coleman, President and Chief Executive ...

Recent Medicare Price Assignment Driving Increased Access to CompuFlo Milestone Scientific to Attend New York and New Jersey Pain Medicine Congress 2024 ROSELAND, N.J., Nov. 01, 2024 (GLOBE NEWSWIRE) -- Milestone Scientific Inc. (NYSE: MLSS), a leading developer of computerized drug delivery instruments that provide painless and precise injections, today announced the commercial rollout of its CompuFlo® Epidural System at Hudson Specialty Care, led by renowned physician Dr. Elbaz. This latest agreement is a ...

OLD GREENWICH, Conn., Oct. 31, 2024 (GLOBE NEWSWIRE) -- Hudson Global, Inc. (Nasdaq: HSON), a leading global talent solutions company, will issue its third quarter financial results for the period ended September 30, 2024, before the market opens on Tuesday, November 12, 2024. The company will host a conference call to review its results that same day at 10:00 am ET (7:00 am PT). If you wish to join the conference call, please use the dial-in information below: Toll-Free Dial-In Number: 1-833-816-1383Intern ...

WOODCLIFF LAKE, N.J., Oct. 25, 2024 (GLOBE NEWSWIRE) -- Hudson Technologies, Inc. (NASDAQ: HDSN) announced that its board of directors has approved an increase to the Company's share repurchase program. Hudson may now purchase up to $20 million in shares of its common stock, consisting of up to $10 million in shares during each of calendar year 2024 and 2025. The Company had previously announced that its board had authorized the repurchase of $10 million of outstanding common stock during 2024 and 2025. Und ...