Gp Strategies Corp (GPX) SEC Filing 10-Q Quarterly report for the period ending Tuesday, June 30, 2020

Gp Strategies Corp

CIK: 917225 Ticker: GPX

Exhibit 99.1


GP Strategies Reports Second Quarter 2020 Financial Results

Columbia, MD. August 7, 2020.
Global performance improvement solutions provider GP Strategies Corporation (NYSE: GPX) today reported financial results for the quarter ended June 30, 2020.
Cash flow from operations of $22.9 million for second quarter of 2020 compared to cash used in operations of $3.7 million for second quarter of 2019
Reduced long term-debt balance by $25.2 million to $57.7 million as of June 30, 2020 compared to $82.9 million as of December 31, 2019
Revenue of $106.1 million for second quarter of 2020 compared to $149.4 million for second quarter of 2019
Gross profit of $15.9 million, or 15.0% of revenue, for second quarter of 2020 compared to $23.0 million, or 15.4%, for second quarter of 2019
Diluted loss per share of $(0.04) for second quarter of 2020 compared to earnings of $0.19 per share for second quarter of 2019
Backlog of $327.0 million as of June 30, 2020 compared to $330.5 million as of June 30, 2019

“We continue to navigate through these unprecedented times and have taken swift and strategic actions, reducing leverage and lowering expenses, establishing a strong foundation to ensure our long-term success,” stated Adam Stedham, Chief Executive Officer & President of GP Strategies. “Clearly the second quarter was a challenge, but we delivered Adjusted EBITDA of $6.0 million, an increase of 75% compared to the first quarter of 2020. We expect our revenue to increase sequentially for the third and fourth quarters of the year, and Adjusted EBITDA for the second half of 2020 to improve compared to the first half.”

“We are successfully transitioning multiple programs to virtual modalities. In addition, we are beginning to see face-to-face training activities reschedule. The rate of marketplace adoption of virtual learning, remote performance support and e-learning creates significant opportunities for the Company to increase revenues from our current levels,” concluded Mr. Stedham.

The Company's revenue decreased $43.3 million, or 29.0%, to $106.1 million for the second quarter of 2020 from $149.4 million in the second quarter of 2019. Revenue in the Workforce Excellence segment decreased $18.1 million, or 21.6%, and revenue in the Business Transformation Services segment decreased $25.2 million, or 38.4%.


The following information was filed by Gp Strategies Corp (GPX) on Friday, August 7, 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-Q Quarterly 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-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
Basis Of Presentation
Business Segments
Business Segments (Details)
Business Segments (Tables)
Debt (Details)
Divestiture - Narrative (Details)
Earnings Per Share
Earnings Per Share (Details)
Earnings Per Share (Tables)
Income Taxes
Income Taxes (Details Textual)
Intangible Assets
Intangible Assets (Details)
Intangible Assets (Tables)
Intangible Assets- Amortization (Details)
Lease (Tables)
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 (Policy)
Restructuring (Details)
Revenue (Tables)
Revenue - Narrative (Details)
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)
Subsequent Event
Subsequent Event (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: 0000070415-20-000127
Submitted to the SEC: Fri Aug 07 2020 4:23:54 PM EST
Accepted by the SEC: Fri Aug 07 2020
Period: Tuesday, June 30, 2020
Industry: Educational Services

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