Gp Strategies Corp (GPX) 10-K Annual Report February 2017

Global performance improvement solutions provider GP Strategies Corporation (NYSE: GPX) today reported financial results for the quarter and fiscal year ended December 31, 2016.

Overview of Fourth Quarter 2016 Results:


•	Revenue of $127.3 million for fourth quarter of 2016 compared to $126.4 million for fourth quarter of 2015


•	Gross profit of $21.9 million for fourth quarter of 2016 compared to $22.4 million for fourth quarter of 2015


•	Earnings of $0.40 per share for fourth quarter of 2016 compared to $0.37 per share for fourth quarter of 2015

The Company’s revenue increased $0.9 million or 1% during the fourth quarter of 2016 compared to the fourth quarter of 2015. The Company reported revenue increases in three out of its four segments due to both organic growth and acquisitions. This revenue growth was mostly offset by a continued decline in the Professional & Technical Services segment. In addition, foreign currency exchange rate declines resulted in a $5.4 million decrease in U.S. dollar reported revenue during the fourth quarter of 2016.

Operating income decreased $0.6 million to $9.5 million for the fourth quarter of 2016 from $10.1 million for the fourth quarter of 2015. The decrease was primarily due to a $0.5 million decline in gross profit and a $0.5 million increase in SG&A expenses, partially offset by a $0.4 million decrease in restructuring charges incurred in the fourth quarter of 2015 which did not recur in 2016. SG&A expenses for the fourth quarter of 2016 included $0.3 million of legal expenses related to a recently completed acquisition.

Income before income taxes decreased to $8.4 million for the fourth quarter of 2016 from $9.6 million for the fourth quarter of 2015. Foreign currency exchange rate fluctuations adversely impacted year over year U.S. dollar reported pre-tax income by $0.5 million during the fourth quarter of 2016. In addition, other expense for the fourth quarter of 2016 includes $0.5 million of foreign currency transaction losses. When combined with the translation impact on income, foreign currency rate changes adversely impacted pre-tax income by a total of $1.0 million.

The following information was filed by Gp Strategies Corp (GPX) on Tuesday, February 28, 2017 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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Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Material Contracts, Statements, Certifications & more

Gp Strategies Corp provided additional information to their SEC Filing as exhibits

Exhibit 21: Subsidaries Of The Registrant

Exhibit 23: Consents Of Experts And Counsel

Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 31.2: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 32.1: Section 1350 Certification

Ticker: GPX
CIK: 70415
Form Type: 10-K Annual Report
Accession Number: 0000070415-17-000024
Submitted to the SEC: Tue Feb 28 2017 12:24:18 PM EST
Accepted by the SEC: Tue Feb 28 2017
Period: Saturday, December 31, 2016
Industry: Educational Services