Gp Strategies Corp (GPX) SEC Filing 10-Q Quarterly report for the period ending Sunday, September 30, 2018

Gp Strategies Corp

CIK: 917225 Ticker: GPX

Exhibit 99.1


GP Strategies Reports Third Quarter 2018 Financial Results

Columbia, MD. November 6, 2018. Global performance improvement solutions provider GP Strategies Corporation (NYSE: GPX) today reported financial results for the quarter ended September 30, 2018.
Revenue of $123.6 million for third quarter of 2018 compared to $124.1 million for third quarter of 2017
Gross profit of $19.2 million, or 15.5%, of revenue for third quarter of 2018 compared to $18.6 million, or 15.0%, for third quarter of 2017
Diluted earnings per share of $0.20 for third quarter of 2018 compared to $0.19 per share for third quarter of 2017

"Recent developments are favorable for improved operating results in 2019," stated Scott N. Greenberg, Chief Executive Officer of GP Strategies. "GP Strategies has just been selected by a large multi-national insurance company for a global training outsourcing contract, subject to contract negotiations. In addition, we recently won a multi-million dollar contract for a U.S. product training launch with a Japanese automotive manufacturer. We have also seen increased revenue in our engineering & technical services practice, which was the first area of focus by our new sales organization, so I am pleased with the traction resulting from our investment in business development. Implementation expenses related to our new cloud ERP system are expected to decrease significantly, since the Company went live on this system effective October 1, 2018. These expenses totaled $4.9 million in 2017 and $3.0 million for the first nine months of 2018. Based upon these efforts, we believe GP Strategies is strongly positioned for 2019 and beyond."

The Company's revenue decreased slightly to $123.6 million for the third quarter of 2018 from $124.1 million in the third quarter of 2017. Revenue in the Workforce Excellence segment increased $3.5 million, or 5%, largely driven by a 19% increase in the Company's engineering & technical services practice as well as revenue growth from recently completed acquisitions, offset by a continued decline in UK job skills training services due to the previously disclosed funding changes by the UK government for their apprenticeship programs. Revenue in the Business Transformation Services segment declined $4.0 million, or 9%, largely due to project completions which contributed to higher revenues in 2017, as well as a change in the timing of shipment of magazine publications for automotive customers in 2018 compared to 2017.

Operating income increased $1.8 million to $6.2 million for the third quarter of 2018 from $4.4 million for the third quarter of 2017. The increase in operating income is primarily due to a $0.6 million increase in gross profit, a $1.9 million decrease in general and administrative expenses (largely due


The following information was filed by Gp Strategies Corp (GPX) on Tuesday, November 6, 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Gp Strategies Corp's Definitive Proxy Statement (Form DEF 14A) filed after their 2018 10-K Annual Report includes:

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Inside Gp Strategies Corp's 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Condensed Consolidated Balance Sheets
Condensed Consolidated Balance Sheets (Parenthetical)
Condensed Consolidated Statements Of Cash Flows
Condensed Consolidated Statements Of Comprehensive Income
Condensed Consolidated Statements Of Operations
Acquisitions (Tables)
Acquisitions - Narrative (Details)
Acquisitions - Schedule Of Business Acquisition, By Acquisition (Details)
Acquisitions - Schedule Of Contingent Consideration (Details)
Basis Of Presentation
Business Segments
Business Segments (Details)
Business Segments (Tables)
Debt And Financial Instruments
Debt And Financial Instruments (Details Textual)
Earnings Per Share
Earnings Per Share (Details)
Earnings Per Share (Tables)
Income Taxes
Income Taxes (Details Textual)
Intangible Assets
Intangible Assets (Details 1)
Intangible Assets (Details)
Intangible Assets (Tables)
Recent Accounting Standards
Recent Accounting Standards (Policy)
Recent Accounting Standards (Tables)
Recent Accounting Standards - Cumulative Effect Of Asc Topic 606 Adopted (Details)
Recent Accounting Standards Accounting Standard Adopted (Details)
Restructuring (Details)
Restructuring (Notes)
Revenue - Narrative (Details)
Revenue (Tables)
Revenue - Revenue By Category (Details)
Significant Customers &Amp; Concentration Of Credit Risk
Significant Customers &Amp; Concentration Of Credit Risk (Details Textual)
Stock-Based Compensation
Stock-Based Compensation (Details)
Stock-Based Compensation (Tables)
Stockholders' Equity
Stockholders' Equity (Details)
Stockholders' Equity (Tables)

Material Contracts, Statements, Certifications & more

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

Ticker: GPX
CIK: 70415
Form Type: 10-Q Quarterly Report
Accession Number: 0000070415-18-000145
Submitted to the SEC: Tue Nov 06 2018 12:31:07 PM EST
Accepted by the SEC: Tue Nov 06 2018
Period: Sunday, September 30, 2018
Industry: Educational Services

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