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Gp Strategies Corp (GPX) SEC Filing 10-K Annual report for the fiscal year ending Tuesday, December 31, 2019

Gp Strategies Corp

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CIK: 917225 Ticker: GPX

Exhibit 99.1


                                
NEWS RELEASE
gpximage01.jpg

GP Strategies Reports Improved Fourth Quarter and
Full Year 2019 Financial Results

Columbia, MD. March 10, 2020. Global performance improvement solutions provider GP Strategies Corporation (NYSE: GPX) today reported financial results for the quarter ended December 31, 2019.
Overview:
•
Revenue of $155.4 million for fourth quarter of 2019 compared to $132.9 million for fourth quarter of 2018, and annual revenue of $583.3 million for full year 2019 compared to $515.2 million in 2018
•
Gross profit of $23.3 million, or 15.0% of revenue, for fourth quarter of 2019 compared to $18.3 million, or 13.8%, for fourth quarter of 2018
•
Diluted earnings per share of $0.56 for fourth quarter of 2019 compared to $0.02 per share for fourth quarter of 2018 (Adjusted EPS of $0.23 for fourth quarter of 2019 compared to $0.11 for fourth quarter of 2018 after adjusting for special items)
•
Cash flow from operations of $8.8 million for fourth quarter of 2019 compared to $7.7 million for fourth quarter of 2018
•
Backlog of $349.8 million as of December 31, 2019, a 10.0% increase compared to $318.0 million as of December 31, 2018

“In the fourth quarter of 2019, the Company achieved revenue growth of 17%, of which 12% was organic growth, compared to the fourth quarter of 2018,” stated Scott N. Greenberg, Chief Executive Officer of GP Strategies. “In addition, our Adjusted EBITDA increased by 46% for the fourth quarter of 2019 compared to the corresponding period of 2018. The progress that we've made in our business development efforts has translated into positive results for the quarter. We continued to improve our balance sheet and generated approximately $8.8 million of operating cash flow for the quarter. We were able to reduce our net debt position, after subtracting cash, to $74.7 million at December 31, 2019 compared to $103.1 million as of December 31, 2018. The improvement in our balance sheet gives us increased flexibility going forward.”

"We are seeing significant traction with our business development efforts which contributed to organic growth of 5% for 2019," stated Adam Stedham, President of GP Strategies. "Both the TTi acquisition and our existing automotive services within our Business Transformation Services segment had strong 2019 revenue growth, exceeding the Company's overall organic growth rate. This trend reinforces our confidence in the opportunities for GP Strategies within the global automotive industry. In addition, our work has ramped up on many of the previously announced managed services awards, resulting in

1

The following information was filed by Gp Strategies Corp (GPX) on Tuesday, March 10, 2020 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)
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)
Divestitures &Amp; Assets Held For Sale (Details)
Divestitures &Amp; Assets Held For Sale (Notes)
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)
Leases
Leases (Details)
Leases (Tables)
Leases - Schedule Of Future Minimum Payments Before Adoption Of 842 (Details)
Leases - Schedule Of Lease Expenses (Details)
Leases - Schedule Of Reconciliation Of Future Undiscounted Cash Flows To Operating Lease Liabilities After Adoption Of 842 (Details)
Leases - Schedule Of Supplemental Information Related To Leases (Details)
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 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: 0000070415-20-000036
Submitted to the SEC: Tue Mar 10 2020 3:37:58 PM EST
Accepted by the SEC: Tue Mar 10 2020
Period: Tuesday, December 31, 2019
Industry: Educational Services

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