Stock Ticker

HSON (Common Stock)

ExchangeNASDAQ (US Dollar)
Price$1.79
Change (%) Stock is Up 0.13 (7.83%)
Volume57,467
As of 08/20/18 4:00 p.m. ET
Minimum 20 minute delay
Refresh quote

Press Releases

<< Back

Hudson Global Reports 2018 Second Quarter Results

NEW YORK, Aug. 02, 2018 (GLOBE NEWSWIRE) -- Hudson Global, Inc. (Nasdaq: HSON), a leading global talent solutions company, today announced financial results for the second quarter ended June 30, 2018.

2018 Second Quarter Summary

  • Revenue of $17.0 million increased 17.2 percent from the second quarter of 2017 and increased 14.7 percent in constant currency.
     
  • Gross margin of $10.8 million increased 0.9 percent from the second quarter of 2017 but decreased 1.2 percent in constant currency.
     
  • Net loss of $1.4 million, or $0.04 per basic and diluted share, compared with net income of $1.2 million, or $0.04 per basic and diluted share, for the second quarter of 2017. The results in the second quarter of 2017 included net loss from continuing operations of $0.7 million and net income from discontinued operations of $1.9 million related to the sale of the recruitment and talent management businesses.
     
  • Adjusted EBITDA (Non-GAAP measure)* loss of $1.1 million, including $0.6 million of severance expense following the recent divestitures, compared with adjusted EBITDA of $0.1 million in the second quarter of 2017.

“Revenue growth in the second quarter was again driven by strong growth in Asia Pacific, while revenue was impacted by the loss of a global contract in 2017 in the Americas and Europe. We continue to review and reduce our cost structure following the recruitment divestitures earlier this year so we can invest in and grow our recruitment process outsourcing (“RPO”) business,” said Jeff Eberwein, chief executive officer at Hudson Global.  “I have strong confidence in the positive outlook for our RPO business after spending more time with our clients and our talented team around the globe since assuming the CEO role at Hudson.”

* 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 and EBITDA 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 Highlights

The divested businesses are treated as discontinued operations, therefore the discussion below is focused on the continuing operations of the RPO business for all periods presented. Prior period EBITDA and Adjusted EBITDA may not be comparable due to regional support and infrastructure cost allocation treatment between continuing and discontinued operations following the divestitures.

Americas

In the second quarter of 2018, Hudson Global Americas' revenue of $3.5 million decreased 16 percent while gross margin of $2.9 million decreased 22 percent compared with the second quarter of 2017. Growth in financial service and life sciences was offset by lower volumes elsewhere including the conclusion of a large global contract in the third quarter of 2017. EBITDA loss was $0.1 million in the second quarter, compared with EBITDA of $0.3 million a year ago. The region delivered adjusted EBITDA of $0.1 million for the second quarter, compared with adjusted EBITDA of $0.4 million a year ago.

Asia Pacific

Hudson Global Asia Pacific's revenue of $9.6 million increased 39 percent while gross margin of $5.8 million increased 20 percent in constant currency in the second quarter of 2018 compared with the same period in 2017. Growth was driven by a new client win in the fourth quarter of 2017 and higher volumes at existing clients. EBITDA was $0.5 million in the second quarter, compared with EBITDA of $1.1 million a year ago. Asia Pacific delivered adjusted EBITDA of $0.9 million, compared with adjusted EBITDA of $1.2 million in the second quarter of 2017.

Europe

Hudson Global Europe's revenue of $3.9 million increased 4 percent while gross margin of $2.1 million decreased 11 percent in constant currency in the second quarter of 2018 compared with the second quarter of 2017. Gross margin growth in the U.K. of 25 percent was offset by declines in Continental Europe, due to a large global contract that ended in the third quarter of 2017. EBITDA was $0.0 million in the second quarter, compared with $0.4 million a year ago. Adjusted EBITDA was $0.2 million in the second quarter of 2018, compared with $0.4 million a year ago.

Liquidity and Capital Resources

The Company ended the second quarter of 2018 with $38.6 million in cash. The Company had no credit facilities in place at the end of the second quarter of 2018 following the sale of its recruitment and talent management businesses, but remains in discussions with various lenders about new credit facilities for the RPO business. The Company used $3.6 million in cash flow from operations during the second quarter, compared with a generation of $4.2 million in cash flow from operations in the second quarter of 2017. The cash flow statement in the second quarter of 2017 includes the recruitment and talent management businesses sold on March 31, 2018.

Share Repurchase Program

During the second quarter, the Company continued its share repurchase program which has an authorization of up to $10 million of the Company’s common stock. Since the inception of this program in the third quarter of 2015 through the end of the second quarter of 2018, the Company has purchased 3,641,605 shares for $7.4 million.

Business Outlook

With respect to forward-looking non-GAAP measures, a reconciliation of the non-GAAP measures to the corresponding GAAP measures is not available without unreasonable efforts due to the variability, complexity and low visibility of the non-cash and other items described below that we exclude from the non-GAAP outlook measures. The variability of these items is likely to have a significant impact on our future GAAP financial results.

The Company expects RPO operations before corporate costs to deliver adjusted EBITDA of between $5.0 million to $6.0 million in 2018. We expect corporate costs of approximately $8.0 million to $8.5 million in 2018, which includes $2.4 million of severance recorded in the first half of 2018. As a result, the Company expects adjusted EBITDA loss of $2.0 million to $3.5 million in 2018.

Conference Call/Webcast

Hudson 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 Company's web site at Hudson.com.

The archived call will be available on the investor information section of the Company's web site at Hudson.com.

About Hudson

Hudson Global is a talent solutions company with expertise in recruitment process outsourcing and managed services. We help our clients and candidates succeed by leveraging our expertise and our deep industry and market knowledge. Operating around the globe through relationships across our network of specialized professionals, we bring an unparalleled ability to match talent with opportunities by assessing, recruiting, and engaging the best and brightest people for our clients. We combine broad geographic presence, world-class talent solutions, and a tailored, consultative approach to help businesses achieve higher performance and outstanding results. More information is available at Hudson.com.

Forward-Looking Statements

This 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 Company's 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. Such factors, risks, uncertainties and assumptions include, but are not limited to, Hudson Global’s ability to achieve anticipated benefits from the sales of its recruitment and talent management operations in Europe and Asia Pacific and operate successfully as a Company focused on its RPO business; global economic fluctuations; the Company’s ability to successfully achieve its strategic initiatives; risks related to fluctuations in the Company's operating results from quarter to quarter; the ability of clients to terminate their relationship with the Company at any time and the impact of any loss of a significant client; competition in the Company's markets; the negative cash flows and operating losses that may recur in the future; risks associated with the Company's investment strategy; risks related to international operations, including foreign currency fluctuations; the Company's dependence on key management personnel; the Company's ability to attract and retain highly skilled professionals; the Company's ability to collect accounts receivable; the Company’s ability to maintain costs at an acceptable level; the Company's heavy reliance on information systems and the impact of potentially losing or failing to develop technology; risks related to providing uninterrupted service to clients; the Company's exposure to employment-related claims from clients, employers and regulatory authorities, current and former employees in connection with the Company’s business reorganization initiatives and limits on related insurance coverage; the Company’s ability to utilize net operating loss carry-forwards; volatility of the Company's stock price; the impact of government regulations; restrictions imposed by blocking arrangements; and risks related to potential acquisitions or dispositions of businesses by the Company. Additional information concerning these and other factors is contained in the Company's filings with the Securities and Exchange Commission. These forward-looking statements speak only as of the date of this document. The Company assumes no obligation, and expressly disclaims any obligation, to update any forward-looking statements, whether as a result of new information, future events or otherwise.

Financial Tables Follow


HUDSON GLOBAL, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per share amounts)
(unaudited)
                 
    Three Months Ended June 30,   Six Months Ended June 30,
    2018   2017   2018   2017
Revenue   $ 17,015     $ 14,517     $ 33,230     $ 28,472  
Direct costs   6,214     3,812     12,275     7,765  
Gross margin   10,801     10,705     20,955     20,707  
Operating expenses:                
Salaries and related   9,303     9,099     19,662     17,552  
Other selling, general and administrative   2,755     1,995     5,208     3,872  
Depreciation and amortization   2     79     2     160  
Business reorganization       1         (113 )
Total operating expenses   12,060     11,174     24,872     21,471  
Operating income (loss)   (1,259 )   (469 )   (3,917 )   (764 )
Non-operating income (expense):                
Interest income (expense), net   60     (4 )   60     (4 )
Other income (expense), net   (45 )   (15 )   (112 )   (53 )
Income (loss) from continuing operation before provision for income taxes   (1,244 )   (488 )   (3,969 )   (821 )
Provision for income taxes from continuing operations   109     246     281     392  
Income (loss) from continuing operations   (1,353 )   (734 )   (4,250 )   (1,213 )
Income (loss) from discontinued operations, net of income taxes   (11 )   1,960     13,607     1,125  
Net income (loss)   $ (1,364 )   $ 1,226     $ 9,357     $ (88 )
Basic and diluted earnings (loss) per share:                
Basic and diluted earnings (loss) per share from continuing operations   $ (0.04 )   $ (0.02 )   $ (0.13 )   $ (0.04 )
Basic and diluted earnings (loss) per share from discontinued operations       0.06     0.42     0.04  
Basic and diluted earnings (loss) per share   $ (0.04 )   $ 0.04     $ 0.29     $  
Weighted-average shares outstanding:                
Basic   32,277     32,048     32,212     32,104  
Diluted   32,277     32,048     32,212     32,104  


HUDSON GLOBAL, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands)
(unaudited)
         
    June 30,
 2018
  December 31,
 2017
ASSETS        
Current assets:        
Cash and cash equivalents   $ 38,641     $ 5,580  
Accounts receivable, less allowance for doubtful accounts of $52 and $69, respectively   14,201     11,545  
Prepaid and other   1,010     388  
Current assets of discontinued operations       79,530  
Total current assets   53,852     97,043  
Property and equipment, net   5     1  
Deferred tax assets, non-current   292     324  
Other assets   373     371  
Non-current assets of discontinued operations   $     $ 13,901  
Total assets   $ 54,522     $ 111,640  
LIABILITIES AND STOCKHOLDERS’ EQUITY        
Current liabilities:        
Accounts payable   $ 806     $ 1,193  
Accrued expenses and other current liabilities   8,901     7,259  
Current liabilities of discontinued operations   366     51,952  
Total current liabilities   10,073     60,404  
Income tax payable, non-current   1,978     1,682  
Other non-current liabilities   578     192  
Non-current liabilities of discontinued operations       6,210  
Total liabilities   12,629     68,488  
Stockholders’ equity:        
Preferred stock, $0.001 par value, 10,000 shares authorized; none issued or outstanding        
Common stock, $0.001 par value, 100,000 shares authorized; issued 36,110 and 34,959 shares, respectively   34     34  
Additional paid-in capital   484,432     483,558  
Accumulated deficit   (434,062 )   (443,419 )
Accumulated other comprehensive income   (244 )   10,709  
Treasury stock, 4,079 and 3,800 shares, respectively, at cost   (8,267 )   (7,730 )
Total stockholders’ equity   41,893     43,152  
Total liabilities and stockholders' equity   $ 54,522     $ 111,640  


HUDSON GLOBAL, INC.
SEGMENT ANALYSIS - QUARTER TO DATE
Reconciliation of Non-GAAP Financial Measures
(in thousands)
(unaudited)
                     
For The Three Months Ended June 30, 2018   Hudson
Americas
  Hudson
Asia Pacific
  Hudson
Europe
  Corporate   Total
Revenue, from external customers   $ 3,509     $ 9,600     $ 3,906     $     $ 17,015  
Gross margin, from external customers   $ 2,923     $ 5,759     $ 2,119     $     $ 10,801  
Adjusted EBITDA (loss) (1)   $ 148     $ 862     $ 188     $ (2,275 )   $ (1,077 )
Stock-based compensation expense   16     9     6     149     180  
Non-operating expense (income),
including corporate administration charges
  208     345     148     (656 )   45  
EBITDA (loss) (1)   $ (76 )   $ 508     $ 34     $ (1,768 )   $ (1,302 )
Depreciation and amortization expenses                   2  
Interest expense (income), net                   (60 )
Provision for (benefit from) income taxes                   109  
Income (loss) from continuing operations                   $ (1,353 )
Income (loss) from discontinued operations, net of income taxes       (11 )
Net income (loss)                   $ (1,364 )
                     
For The Three Months Ended June 30, 2017   Hudson
Americas
  Hudson
Asia Pacific
  Hudson
Europe
  Corporate   Total
Revenue, from external customers   $ 4,161     $ 6,817     $ 3,539     $     $ 14,517  
Gross margin, from external customers   $ 3,731     $ 4,726     $ 2,248     $     $ 10,705  
Adjusted EBITDA (loss) (1)   $ 404     $ 1,164     $ 432     $ (1,938 )   $ 62  
Business reorganization expenses (recovery)   1                 1  
Stock-based compensation expense   20     3         428     451  
Non-operating expense (income),
including corporate administration charges
  82     106     69     (242 )   15  
EBITDA (loss) (1)   $ 301     $ 1,055     $ 363     $ (2,124 )   $ (405 )
Depreciation and amortization expenses                   79  
Interest expense (income), net                   4  
Provision for (benefit from) income taxes                   246  
Income (loss) from continuing operations                   $ (734 )
Income (loss) from discontinued operations, net of income taxes       1,960  
Net income (loss)                   $ 1,226  

(1)  Non-GAAP earnings before interest, income taxes, and depreciation and amortization (“EBITDA”) and non-GAAP earnings before interest, income taxes, depreciation and amortization, non-operating income, goodwill and other impairment charges, business reorganization expenses, stock-based compensation expense and other expenses (“Adjusted EBITDA”) are presented to provide additional information about the Company's operations on a basis consistent with the measures which the company uses to manage its operations and evaluate its performance. Management also uses these measurements to evaluate capital needs and working capital requirements. However, EBITDA and adjusted EBITDA are not measures of financial performance under GAAP and should not be considered in isolation or as a substitute for operating income, cash flows from operating activities, and other income or cash flow statement data prepared in accordance with GAAP or as a measure of the Company's profitability or liquidity. Furthermore, EBITDA and adjusted EBITDA as presented above may not be comparable with similarly titled measures reported by other companies.

HUDSON GLOBAL, INC.
SEGMENT ANALYSIS - QUARTER TO DATE (continued)
Reconciliation of Non-GAAP Financial Measures
(in thousands)
(unaudited)
                     
For The Three Months Ended March 31, 2018   Hudson
Americas
  Hudson
Asia Pacific
  Hudson
Europe
  Corporate   Total
Revenue, from external customers   $ 3,700     $ 8,825     $ 3,690     $     $ 16,215  
Gross margin, from external customers   $ 3,126     $ 4,923     $ 2,105     $     $ 10,154  
Adjusted EBITDA (loss) (1)   $ 370     $ 623     $ 52     $ (3,239 )   $ (2,194 )
Stock-based compensation expense   27     4         432     463  
Non-operating expense (income),
including corporate administration charges
  52     75     41     (100 )   68  
EBITDA (loss) (1)   $ 291     $ 544     $ 11     $ (3,571 )   $ (2,725 )
Depreciation and amortization expenses                    
Interest expense (income), net                    
Provision for (benefit from) income taxes                   172  
Income (loss) from continuing operations                   $ (2,897 )
Income (loss) from discontinued operations, net of income taxes       13,618  
Net income (loss)                   $ 10,721  
                     
For The Three Months Ended September 30, 2017   Hudson
Americas
  Hudson
Asia Pacific
  Hudson
Europe
  Corporate   Total
Revenue, from external customers   $ 4,044     $ 8,081     $ 3,774     $     $ 15,899  
Gross margin, from external customers   $ 3,668     $ 5,173     $ 2,322         $ 11,163  
Adjusted EBITDA (loss) (1)   $ 579     $ 1,489     $ 448     $ (2,235 )   $ 281  
Stock-based compensation expense   20     3         140     163  
Non-operating expense (income),
including corporate administration charges
  76     108     90     (255 )   19  
EBITDA (loss) (1)   $ 483     $ 1,378     $ 358     $ (2,120 )   $ 99  
Depreciation and amortization expenses                   79  
Interest expense (income), net                   3  
Provision for (benefit from) income taxes                   459  
Income (loss) from continuing operations                   $ (442 )
Income (loss) from discontinued operations, net of income taxes       (403 )
Net income (loss)                   $ (845 )

(1)  Non-GAAP earnings before interest, income taxes, and depreciation and amortization (“EBITDA”) and non-GAAP earnings before interest, income taxes, depreciation and amortization, non-operating income, goodwill and other impairment charges, business reorganization expenses, stock-based compensation expense and other expenses (“Adjusted EBITDA”) are presented to provide additional information about the Company's operations on a basis consistent with the measures which the company uses to manage its operations and evaluate its performance. Management also uses these measurements to evaluate capital needs and working capital requirements. However, EBITDA and adjusted EBITDA are not measures of financial performance under GAAP and should not be considered in isolation or as a substitute for operating income, cash flows from operating activities, and other income or cash flow statement data prepared in accordance with GAAP or as a measure of the Company's profitability or liquidity. Furthermore, EBITDA and adjusted EBITDA as presented above may not be comparable with similarly titled measures reported by other companies.

HUDSON GLOBAL, INC.
SEGMENT ANALYSIS - YEAR TO DATE (continued)
Reconciliation of Non-GAAP Financial Measures
(in thousands)
(unaudited)
                     
For The Six Months Ended June 30, 2018   Hudson
Americas
  Hudson
Asia Pacific
  Hudson
Europe
  Corporate   Total
Revenue, from external customers   $ 7,209     $ 18,425     $ 7,596     $     $ 33,230  
Gross margin, from external customers   $ 6,046     $ 10,682     $ 4,227     $     $ 20,955  
Adjusted EBITDA (loss) (1)   $ 518     $ 1,486     $ 240     $ (5,518 )   $ (3,274 )
Stock-based compensation expense   43     12     6     580     641  
Non-operating expense (income),
including corporate administration charges
  260     422     189     (759 )   112  
EBITDA (loss) (1)   $ 215     $ 1,052     $ 45     $ (5,339 )   $ (4,027 )
Depreciation and amortization expenses                   2  
Interest expense (income), net                   (60 )
Provision for (benefit from) income taxes                   281  
Income (loss) from continuing operations                   (4,250 )
Income (loss) from discontinued operations, net of income taxes       13,607  
Net income (loss)                   $ 9,357  
                     
For The Six Months Ended June 30, 2017   Hudson
Americas
  Hudson
Asia Pacific
  Hudson
Europe
  Corporate   Total
Revenue, from external customers   $ 8,475     $ 13,159     $ 6,838     $     $ 28,472  
Gross margin, from external customers   $ 7,571     $ 8,911     $ 4,225     $     $ 20,707  
Adjusted EBITDA (loss) (1)   $ 738     $ 1,999     $ 672     $ (3,532 )   $ (123 )
Business reorganization expenses (recovery)   (91 )       1     (23 )   (113 )
Stock-based compensation expense   53     4         537     594  
Non-operating expense (income),
including corporate administration charges
  141     198     130     (416 )   53  
EBITDA (loss) (1)   $ 635     $ 1,797     $ 541     $ (3,630 )   $ (657 )
Depreciation and amortization expenses                   160  
Interest expense (income), net                   4  
Provision for (benefit from) income taxes                   392  
Income (loss) from continuing operations                   (1,213 )
Income (loss) from discontinued operations, net of income taxes       1,125  
Net income (loss)                   $ (88 )

(1)  Non-GAAP earnings before interest, income taxes, and depreciation and amortization (“EBITDA”) and non-GAAP earnings before interest, income taxes, depreciation and amortization, non-operating income, goodwill and other impairment charges, business reorganization expenses, stock-based compensation expense and other expenses (“Adjusted EBITDA”) are presented to provide additional information about the Company's operations on a basis consistent with the measures which the company uses to manage its operations and evaluate its performance. Management also uses these measurements to evaluate capital needs and working capital requirements. However, EBITDA and adjusted EBITDA are not measures of financial performance under GAAP and should not be considered in isolation or as a substitute for operating income, cash flows from operating activities, and other income or cash flow statement data prepared in accordance with GAAP or as a measure of the Company's profitability or liquidity. Furthermore, EBITDA and adjusted EBITDA as presented above may not be comparable with similarly titled measures reported by other companies.

HUDSON GLOBAL, INC.
RECONCILIATION FOR CONSTANT CURRENCY
(in thousands) (unaudited)

The Company operates on a global basis, with the majority of its gross margin generated outside of the United States. Accordingly, fluctuations in foreign currency exchange rates can affect its results of operations. Constant currency information compares financial results between periods as if exchange rates had remained constant period-over-period. The Company currently defines the term “constant currency” to mean that financial data for a previously reported period are translated into U.S. dollars using the same foreign currency exchange rates that were used to translate financial data for the current period. Changes in revenue, gross margin, selling, general and administrative expenses ("SG&A"), business reorganization expenses and other non-operating income (expense), operating income (loss) and EBITDA (loss) include the effect of changes in foreign currency exchange rates. Variance analysis usually describes period-to-period variances that are calculated using constant currency as a percentage. The Company’s management reviews and analyzes business results in constant currency and believes these results better represent the Company’s underlying business trends. The Company believes that these calculations are a useful measure, indicating the actual change in operations. There are no significant gains or losses on foreign currency transactions between subsidiaries. Therefore, changes in foreign currency exchange rates generally impact only reported earnings.

  Three Months Ended June 30,
  2018   2017
  As   As   Currency   Constant
  reported   reported   translation   currency
Revenue:              
Hudson Americas $ 3,509     $ 4,161     $ 8     $ 4,169  
Hudson Asia Pacific 9,600     6,817     78     6,895  
Hudson Europe 3,906     3,539     226     3,765  
Total $ 17,015     $ 14,517     $ 312     $ 14,829  
Gross margin:              
Hudson Americas $ 2,923     $ 3,731     $ 12     $ 3,743  
Hudson Asia Pacific 5,759     4,726     68     4,794  
Hudson Europe 2,119     2,248     144     2,392  
Total $ 10,801     $ 10,705     $ 224     $ 10,929  
SG&A (1):              
Hudson Americas $ 2,791     $ 3,349     $ 6     $ 3,355  
Hudson Asia Pacific 4,906     3,567     53     3,620  
Hudson Europe 1,936     1,817     123     1,940  
Corporate 2,427     2,361         2,361  
Total $ 12,060     $ 11,094     $ 182     $ 11,276  
Operating income (loss):              
Hudson Americas $ 132     $ 383     $ 1     $ 384  
Hudson Asia Pacific 853     1,158     15     1,173  
Hudson Europe 180     432     23     455  
Corporate (2,424 )   (2,442 )       (2,442 )
Total $ (1,259 )   $ (469 )   $ 39     $ (430 )
EBITDA (loss):              
Hudson Americas $ (76 )   $ 301     $ 1     $ 302  
Hudson Asia Pacific 508     1,055     15     1,070  
Hudson Europe 34     363     24     387  
Corporate (1,768 )   (2,124 )       (2,124 )
Total $ (1,302 )   $ (405 )   $ 40     $ (365 )

(1)  SG&A is a measure that management uses to evaluate the segments’ expenses and includes salaries and related costs and other selling, general and administrative costs.

Contact:   Patrick Lyons
    Hudson
    212-351-7425
    patrick.lyons@hudson.com

Primary Logo

Hudson Global, Inc.

HUDSON - FROM GREAT PEOPLE TO GREAT PERFORMANCE ®

Hudson (NASDAQ: HSON) is a global talent solutions company with expertise in leadership and specialized recruitment, contracting solutions, recruitment process outsourcing, talent management and eDiscovery. We leverage our deep industry and market knowledge and proprietary assessment tools to help businesses and professionals achieve higher performance and outstanding results. Operating in 20 countries, we combine broad geographic presence, world-class talent solutions and a tailored, consultative approach to attract, develop and retain the best and brightest people for our clients.