Gp Strategies Corp (GPX) 10-K Annual Report March 2018

Global performance improvement solutions provider GP Strategies Corporation (NYSE: GPX) today reported financial results for the quarter and fiscal year ended December 31, 2017.

Overview of Fourth Quarter 2017 Results:


•	Revenue of $131.5 million for fourth quarter of 2017 compared to $127.3 million for fourth quarter of 2016, and record annual revenue of $509.2 million for full year 2017 compared to $490.6 million in 2016


•	Loss of $(0.02) per share for fourth quarter of 2017 compared to $0.40 per share for fourth quarter of 2016 (Adjusted EPS of $0.38 per share for the fourth quarter of 2017 compared to $0.40 per share for fourth quarter of 2016)


•	Cash provided by operating activities of $26.3 million for year ended December 31, 2017 compared to $18.1 million in 2016


•	U.S. tax reform enacted in December 2017, resulting in $3.2 million increased income tax expense, or $0.19 per share in fourth quarter of 2017

“We achieved record revenue in 2017 while concurrently undertaking substantial initiatives that we believe will result in long term growth and increased shareholder value,” stated Scott N. Greenberg, Chief Executive Officer of GP Strategies. "We are pleased to report that our master services agreement with our largest financial services customer has been extended for one year to July 2019. We are negotiating with the customer the terms of a new multi-year agreement. We are proud of the value we have delivered and the trust and confidence we have received from this major financial institution. While we had restructuring costs, investment in a new ERP system and a large unusual contract write-off in the oil and gas industry in 2017, the adjusted results and cash flow generated from operations clearly demonstrate our potential. In addition, with our renewed emphasis on acquisitions and our recently announced organizational and management team changes, we look forward to the future.”

The Company’s revenue increased $4.2 million or 3.3% during the fourth quarter of 2017 compared to the fourth quarter of 2016 due to both organic growth and acquisitions. Revenue for the fiscal year ended December 31, 2017 was $509.2 million, up $18.6 million or 3.8% from 2016 revenue of $490.6 million.

The following information was filed by Gp Strategies Corp (GPX) on Thursday, March 1, 2018 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 10.34: Material Contract

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: 0000070415-18-000033
Submitted to the SEC: Thu Mar 01 2018 1:02:19 PM EST
Accepted by the SEC: Thu Mar 01 2018
Period: Sunday, December 31, 2017
Industry: Educational Services