Gp Strategies Corp (GPX) SEC Filing 10-Q Quarterly report for the period ending Sunday, June 30, 2019

Gp Strategies Corp

CIK: 917225 Ticker: GPX

Exhibit 99.1


GP Strategies Reports Second Quarter 2019 Financial Results

Columbia, MD. August 1, 2019. Global performance improvement solutions provider GP Strategies Corporation (NYSE: GPX) today reported financial results for the quarter ended June 30, 2019.
Record revenue of $149.4 million for second quarter of 2019 compared to $133.7 million for second quarter of 2018
Record gross profit of $23.0 million for second quarter of 2019 compared to $22.6 million for second quarter of 2018
Diluted earnings per share of $0.19 for second quarter of 2019 compared to $0.22 per share for second quarter of 2018
Backlog of $330.5 million as of June 30, 2019, a 23% increase compared to $268.8 million as of June 30, 2018

“We are pleased to report both record revenue and gross profit in the second quarter, which enhances confidence in our outlook for the future,” stated Scott N. Greenberg, Chief Executive Officer of GP Strategies. "These results were achieved despite a significant decline in foreign currency exchange rates which negatively impacted our U.S. dollar reported revenue and gross profit by $2.3 million and $0.3 million, respectively, in the second quarter of 2019. With our increased backlog and significant new opportunities, we believe the positive momentum should continue.”

"Having completed six months of 2019, we continue to see our new sales structure gaining traction,” commented Adam H. Stedham, President of GP Strategies. “We are pleased that we are generating higher than anticipated revenues from our TTi business. In addition, we continue to make progress on improving TTi's profitability to align with the company's gross margins. We continue to be confident that we are on track to execute throughout the remainder of 2019."

The Company's revenue increased $15.7 million, or 12%, to $149.4 million for the second quarter of 2019 from $133.7 million in the second quarter of 2018. Revenue in the Business Transformation Services segment increased $16.7 million, or 32%, largely due to the TTi Global acquisition completed in December 2018, as well as an increase in sales training services for automotive clients. This increase was partially offset by a $1.0 million, or 1%, revenue decrease in the Workforce Excellence segment. Foreign currency exchange rate changes resulted in a $2.3 million decrease in U.S. dollar reported revenue during the second quarter of 2019, which primarily impacted the Workforce Excellence segment.


The following information was filed by Gp Strategies Corp (GPX) on Thursday, August 1, 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-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 2019 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 Statement Of Stockholders Equity Statement
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 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)
Lease (Tables)
Lease - Schedule Of Future Minimum Payments Before Adoption Of 842 (Details)
Lease - Schedule Of Lease Expenses (Details)
Lease - Schedule Of Reconciliation Of Future Undiscounted Cash Flows To Operating Lease Liabilities After Adoption Of 842 (Details)
Lease - Schedule Of Supplemental Information Related To Leases (Details)
Recent Accounting Standards
Recent Accounting Standards (Details)
Recent Accounting Standards (Policy)
Restructuring (Notes)
Restructuring (Tables)
Restructuring - Narrative (Details)
Restructuring - Restructuring Rollforward (Details)
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)

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: 0000070415-19-000097
Submitted to the SEC: Fri Aug 02 2019 7:29:12 AM EST
Accepted by the SEC: Fri Aug 02 2019
Period: Sunday, June 30, 2019
Industry: Educational Services

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