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Gp Strategies Corp (GPX) SEC Filing 10-K Annual report for the fiscal year ending Monday, December 31, 2018

Gp Strategies Corp

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CIK: 917225 Ticker: GPX

Exhibit 99.1


NEWS RELEASE
image1a02a23.jpg

GP Strategies Reports Fourth Quarter 2018 Financial Results
and Positive Outlook for 2019

Columbia, MD. March 18, 2019.
 Global performance improvement solutions provider GP Strategies Corporation (NYSE: GPX) today reported financial results for the quarter and fiscal year ended December 31, 2018.
Overview of Fourth Quarter 2018 Results:
•
Record revenue of $132.9 million for fourth quarter of 2018 compared to $131.5 million for fourth quarter of 2017, and annual revenue of $515.2 million for full year 2018 compared to $509.2 million in 2017
•
Significantly increased backlog of $327.4 million, a record level, as of December 31, 2018, a 22% increase compared to $268.6 million as of December 31, 2017
•
Diluted earnings per share of $0.02 for the fourth quarter of 2018 compared to a loss of $0.02 per share for fourth quarter of 2017
•
Completed TTi Global acquisition, significantly enhancing GP Strategies' service offerings and customer base in the automotive industry, adding service training and multiple new markets, customer relationships and capabilities
•
Cash provided by operating activities of $7.7 million for the fourth quarter of 2018 compared to $5.1 million for the fourth quarter of 2017

“The Company has entered 2019 with a positive outlook for the future,” stated Scott N. Greenberg, Chief Executive Officer of GP Strategies. "We anticipate achieving both significant revenue and EBITDA increases in 2019. While our 2018 results were disappointing, we have made substantial progress in our long term strategic objectives.”

"2018 has been a challenging and transformational year for GP Strategies," commented Adam H. Stedham, President of GP Strategies. "We have created the foundation for exciting times going forward.  During 2018, we entered into long term renewals with our two largest customers, which represented 27% of our 2018 revenue. Our new sales structure is in place and functioning well.  Our backlog is at an all-time high of $327.4 million, up 22% from the prior year. In addition, not included in this backlog, the Company has been awarded three new multi-year outsourcing contracts. The acquisition of TTi Global further positions the Company to capitalize on expected demand for our services resulting from the unprecedented disruption of the automotive industry.  We anticipate TTi Global will contribute positively to our income statement after the first quarter,

1

The following information was filed by Gp Strategies Corp (GPX) on Monday, March 18, 2019 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

Document And Entity Information
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 2)
Acquisitions (Details 3)
Acquisitions (Details Textual)
Acquisitions (Details)
Acquisitions (Tables)
Business Segments
Business Segments (Details 1)
Business Segments (Details 2)
Business Segments (Details 3)
Business Segments (Details 4)
Business Segments (Details)
Business Segments (Tables)
Commitments, Guarantees, And Contingencies
Commitments, Guarantees, And Contingencies (Details Textual)
Commitments, Guarantees, And Contingencies (Details)
Commitments, Guarantees, And Contingencies (Tables)
Common Stock
Common Stock (Details Textual)
Debt
Debt (Details Textual)
Debt (Tables)
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)
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 Textual)
Income Taxes (Details)
Income Taxes (Tables)
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 (Details)
Restructuring (Notes)
Revenue (Tables)
Revenue - Narrative (Details)
Revenue - Revenue By Category (Details)
Revenue Revenue
Stock-Based Compensation
Stock-Based Compensation (Details 1)
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: 0000070415-19-000050
Submitted to the SEC: Mon Apr 01 2019 12:45:09 PM EST
Accepted by the SEC: Mon Apr 01 2019
Period: Monday, December 31, 2018
Industry: Educational Services

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