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Gp Strategies Corp (GPX) SEC Filing 10-K Annual report for the fiscal year ending Monday, December 31, 2012

Gp Strategies Corp

CIK: 917225 Ticker: GPX

 

Exhibit 99.1

 

NEWS RELEASE

 

GP Strategies Reports Strong Fourth Quarter and Full Year 2012 Financial Results

 

Elkridge, MD. February 26, 2013.

Global performance improvement solutions provider GP Strategies Corporation (NYSE: GPX) today reported financial results for the quarter and fiscal year ended December 31, 2012.

 

Overview of Fourth Quarter 2012 Results:

 

·Revenue of $106.0 million for fourth quarter of 2012, up $12.1 million or 13% compared to $93.9 million for fourth quarter of 2011
·Operating income of $10.2 million for fourth quarter of 2012, up $2.0 million or 24% compared to $8.2 million for fourth quarter of 2011
·EBITDA of $12.4 million, up $2.1 million or 21% for fourth quarter of 2012 compared to $10.3 million for fourth quarter of 2011
·Cash flow from operations of $8.3 million for fourth quarter of 2012, up $2.7 million or 47% compared to $5.6 million for fourth quarter of 2011

 

The Company’s revenue increased 13% or $12.1 million during the fourth quarter of 2012 compared to the fourth quarter of 2011. The revenue growth was driven by previously completed acquisitions combined with strong organic growth. The Learning Solutions, Sandy Training & Marketing and Energy Services segments achieved double-digit organic revenue growth during the fourth quarter of 2012 compared to the fourth quarter of 2011 due to increased training services for several new and existing customers. Operating income increased 24% or $2.0 million during the fourth quarter of 2012 primarily due to a $3.2 million increase in gross profit which was largely attributable to organic revenue growth. Net income was $6.1 million, or $0.32 per diluted share, for the fourth quarter of 2012 compared to $5.9 million, or $0.31 per diluted share, for the fourth quarter of 2011. The fourth quarter 2011 results include a $0.9 million, or $0.05 per share, income tax benefit due to the reduction of a tax liability. Excluding this item, diluted earnings per share increased $0.06 during the fourth quarter of 2012 compared to the fourth quarter of 2011.

 

The Company achieved record revenue of $401.6 million for the year ended December 31, 2012, resulting in a 21% overall increase and 10% organic growth over 2011. Operating income increased 28% or $7.7 million in 2012 to $35.7 million for the year ended December 31, 2012. Net income was $22.7 million, or $1.18 per diluted share, for the year ended December 31, 2012 compared to $17.9 million, or $0.94 per diluted share, for the year ended December 31, 2011.

 


The following information was filed by Gp Strategies Corp (GPX) on Tuesday, February 26, 2013 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 this 10-K Annual Report

Document And Entity Information
Consolidated Balance Sheets
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)
Consolidated Balance Sheets [parenthetical]
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)
Goodwill & Other Intangible Assets
Goodwill & Other Intangible Assets (details 1)
Goodwill & Other Intangible Assets (details 2)
Goodwill & Other Intangible Assets (details Textual)
Goodwill & Other Intangible Assets (details)
Goodwill & Other Intangible Assets (tables)
Income Taxes
Income Taxes (details 1)
Income Taxes (details 2)
Income Taxes (details 3)
Income Taxes (details Textual)
Income Taxes (details)
Income Taxes (tables)
Inventories
Inventories (details Textual)
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)
Related Party Transactions
Related Party Transactions (details Textual)
Short-term Borrowings
Short-term Borrowings (details Textual)
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: 0001144204-13-011131
Submitted to the SEC: Tue Feb 26 2013 11:44:49 AM EST
Accepted by the SEC: Tue Feb 26 2013
Period: Monday, December 31, 2012
Industry: Educational Services

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