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Gp Strategies Corp (GPX) SEC Filing 10-K Annual report for the fiscal year ending Thursday, December 31, 2020

Gp Strategies Corp

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CIK: 917225 Ticker: GPX

Exhibit 99.1

                                
NEWS RELEASE
gpstrategieslogo2020cmykhia.jpg

GP Strategies Reports Strong Fourth Quarter 2020 Financial Results

Columbia, MD. March 11, 2021.
 Global workforce transformation solutions provider GP Strategies Corporation (NYSE: GPX) today reported financial results for the quarter ended December 31, 2020.
Overview:
Income Statement Highlights:
•Revenue of $123.1 million for the fourth quarter of 2020 compared to $115.6 million for the third quarter of 2020 and $155.4 million for the fourth quarter of 2019
•Gross profit of $23.1 million, or 18.8% of revenue for the fourth quarter of 2020 compared to $20.7 million, or 17.9% of revenue for the third quarter of 2020 and $23.3 million, or 15.0% of revenue, for the fourth quarter of 2019
•Diluted earnings per share of $0.47 for the fourth quarter of 2020 compared to $0.03 per share for the third quarter of 2020 and $0.56 per share for the fourth quarter of 2019 (Adjusted EPS of $0.38 for the fourth quarter of 2020 compared to $0.24 per share for the third quarter of 2020 and $0.23 for the fourth quarter of 2019)

Balance Sheet and Cash Flow Highlights:
•Cash and equivalents of $23.1 million at December 31, 2020 compared to $8.2 million at December 31, 2019
•Reduced long term-debt balance by $70.2 million to $12.7 million as of December 31, 2020 compared to $82.9 million as of December 31, 2019
•Cash flow from operations of $13.6 million for the fourth quarter of 2020 compared to $8.8 million for the fourth quarter of 2019
•Cash flow from operations of $59.0 million for the year ended December 31, 2020 compared to $13.4 million for the year ended December 31, 2019

“We are proud of the accomplishments of the Company in 2020." stated Adam Stedham, Chief Executive Officer and President of GP Strategies. "The fourth quarter and full year results of 2020 clearly demonstrate the success of the proactive strategy we implemented early in 2020 to ensure financial stability and achieve strong operating results despite lower revenue due to the impact of the COVID-19 pandemic. In the fourth quarter of 2020, the Company delivered a sequential increase in revenue, gross margin, adjusted earnings per share and adjusted EBITDA compared to both the second and third quarters. Additionally, our success in reducing long-term debt, and
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The following information was filed by Gp Strategies Corp (GPX) on Thursday, March 11, 2021 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Gp Strategies Corp's 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Cover Page
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Operations
Consolidated Statements Of Operations (Parenthetical)
Consolidated Statements Of Stockholders' Equity
Accounts Payable And Accrued Expenses
Accounts Payable And Accrued Expenses (Details)
Accounts Payable And Accrued Expenses (Tables)
Acquisitions
Acquisitions (Details 1)
Acquisitions (Details 3)
Acquisitions (Details Textual)
Acquisitions (Details)
Acquisitions (Tables)
Business Segments
Business Segments (Details 1)
Business Segments (Details Textual)
Business Segments (Details)
Business Segments (Tables)
Commitments, Guarantees, And Contingencies
Commitments, Guarantees, And Contingencies (Details Textual)
Common Stock
Common Stock (Details Textual)
Debt
Debt (Details Textual)
Description Of Business And Significant Accounting Policies
Description Of Business And Significant Accounting Policies (Details 1)
Description Of Business And Significant Accounting Policies (Details 2)
Description Of Business And Significant Accounting Policies (Details Textual)
Description Of Business And Significant Accounting Policies (Details)
Description Of Business And Significant Accounting Policies (Policies)
Description Of Business And Significant Accounting Policies (Tables)
Divestitures &Amp; Assets Held For Sale (Details)
Divestitures &Amp; Assets Held For Sale (Notes)
Employee Benefit Plan
Employee Benefit Plan (Details Textual)
Fair Value Measurements
Fair Value Measurements (Details)
Fair Value Measurements (Tables)
Goodwill &Amp; Other Intangible Assets
Goodwill &Amp; Other Intangible Assets (Details 1)
Goodwill &Amp; Other Intangible Assets (Details 2)
Goodwill &Amp; Other Intangible Assets (Details Textual)
Goodwill &Amp; Other Intangible Assets (Details)
Goodwill &Amp; Other Intangible Assets (Tables)
Income Taxes
Income Taxes (Details 1)
Income Taxes (Details 2)
Income Taxes (Details)
Income Taxes (Tables)
Income Taxes - Narrative (Details)
Leases
Leases (Details)
Leases (Tables)
Leases - Schedule Of Lease Expenses (Details)
Leases - Schedule Of Reconciliation Of Future Undiscounted Cash Flows To Operating Lease Liabilities After Adoption Of 842 (Details)
Leases - Schedule Of Supplemental Information Related To Leases (Details)
Property, Plant And Equipment
Property, Plant And Equipment (Details Textual)
Property, Plant And Equipment (Details)
Property, Plant And Equipment (Tables)
Quarterly Information (Unaudited)
Quarterly Information (Unaudited) (Details)
Quarterly Information (Unaudited) (Tables)
Restructuring
Restructuring (Details)
Revenue
Revenue - Narrative (Details)
Stock-Based Compensation
Stock-Based Compensation (Details 2)
Stock-Based Compensation (Details 3)
Stock-Based Compensation (Details Textual)
Stock-Based Compensation (Details)
Stock-Based Compensation (Tables)
Ticker: GPX
CIK: 70415
Form Type: 10-K Annual Report
Accession Number: 0000070415-21-000041
Submitted to the SEC: Fri Mar 12 2021 4:53:00 PM EST
Accepted by the SEC: Fri Mar 12 2021
Period: Thursday, December 31, 2020
Industry: Educational Services

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