GP Strategies Reports Fourth Quarter 2016 Earnings of $0.40 Per Share

Balance Sheet and Cash Flow Highlights

As of December 31, 2016, the Company had cash and cash equivalents of $16.3 million compared to $21.0 million as of December 31, 2015. As of December 31, 2016, the Company had long-term debt outstanding of $40.0 million. In addition, the Company had $17.7 million of short-term borrowings outstanding and $76.6 million of available borrowings under its line of credit as of December 31, 2016.

Cash provided by operating activities was $18.1 million for the year ended December 31, 2016 compared to $25.6 million for the year ended December 31, 2015.  During the year ended December 31, 2016, the Company repurchased approximately 340,000 shares of its common stock in the open market for a total cost of approximately $8.0 million. As of December 31, 2016, there was approximately $6.1 million available for future repurchases under the buyback program.

Investor Call

The Company has scheduled an investor conference call for 10:00 a.m. ET on February 28, 2017. In addition to prepared remarks from management, there will be a question and answer session on the call. The dial-in numbers for the live conference call are 800-926-4420 or 212-231-2911, using conference ID number 21847036. A telephone replay of the call will also be available beginning at 12:00 p.m. on February 28^th, until 12:00 p.m. on March 14^th. To listen to the replay, dial 800-633-8284 or 402-977-9140, using conference ID number 21847036. A replay will also be available on GP Strategies' website shortly after the conclusion of the call.

Presentation of Non-GAAP Information

This press release contains non-GAAP financial measures, including EBITDA (earnings before interest, income taxes, depreciation and amortization) and free cash flow (cash flow from operating activities less capital expenditures). The Company believes these non-GAAP financial measures are useful to investors in evaluating the Company's results. These measures should be considered in addition to, and not as a replacement for, or superior to, either net income, as an indicator of the Company's operating performance, or cash flow, as a measure of the Company's liquidity. In addition, because these measures may not be calculated identically by all companies, the presentation here may not be comparable to other similarly titled measures of other companies. For a reconciliation of EBITDA to the most comparable GAAP equivalent, see the Non-GAAP Reconciliation – EBITDA, along with related footnotes, below.

About GP Strategies

GP Strategies Corporation (NYSE: GPX) is a global performance improvement solutions provider of sales and technical training, eLearning solutions, management consulting and engineering services. GP Strategies' solutions improve the effectiveness of organizations by delivering innovative and superior training, consulting and business improvement services, customized to meet the specific needs of its clients. Clients include Fortune 500 companies, manufacturing, process and energy industries, and other commercial and government customers.  Additional information may be found at www.gpstrategies.com.

Forward-Looking Statements

We make statements in this press release that are considered forward-looking statements within the meaning of the Securities Exchange Act of 1934. These statements are not guarantees of our future performance and are subject to risks, uncertainties and other important factors that could cause our actual performance or achievements to be materially different from those we project. For a full discussion of these risks, uncertainties and factors, we encourage you to read our documents on file with the Securities and Exchange Commission, including those set forth in our periodic reports under the forward-looking statements and risk factors sections. Except as required by law, we do not intend to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

TABLES FOLLOW

GP STRATEGIES CORPORATION AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS (In thousands, except per share data) (Unaudited)
	Quarter ended						Year ended
	December 31,						December 31,
	2016			2015			2016			2015
Revenue	$	127,283		$	126,431		$	490,559		$	490,280
Cost of revenue	105,401			104,019			410,402			408,288
Gross profit	21,882			22,412			80,157			81,992
Selling, general and administrative expenses	12,352			11,889			48,597			47,748
Restructuring charges	—			356			—			1,551
Loss on change in fair value of contingent consideration, net	(62)			(57)			(136)			(371)
Operating income	9,468			10,110			31,424			32,322
Interest expense	598			370			1,568			1,381
Other income (expense)	(423)			(177)			178			(1,318)
Income before income tax expense	8,447			9,563			30,034			29,623
Income tax expense	1,715			3,311			9,787			10,834
Net income	$	6,732		$	6,252		$	20,247 Werbung Mehr Nachrichten zur GP Strategies Aktie kostenlos abonnieren E-Mail-Adresse Bitte überprüfe deine die E-Mail-Adresse. Benachrichtigungen von ARIVA.DE (Mit der Bestellung akzeptierst du die Datenschutzhinweise) -1 Vielen Dank, dass du dich für unseren Newsletter angemeldet hast. Du erhältst in Kürze eine E-Mail mit einem Aktivierungslink. Hinweis: ARIVA.DE veröffentlicht in dieser Rubrik Analysen, Kolumnen und Nachrichten aus verschiedenen Quellen. Die ARIVA.DE AG ist nicht verantwortlich für Inhalte, die erkennbar von Dritten in den „News“-Bereich dieser Webseite eingestellt worden sind, und macht sich diese nicht zu Eigen. Diese Inhalte sind insbesondere durch eine entsprechende „von“-Kennzeichnung unterhalb der Artikelüberschrift und/oder durch den Link „Um den vollständigen Artikel zu lesen, klicken Sie bitte hier.“ erkennbar; verantwortlich für diese Inhalte ist allein der genannte Dritte. Andere Nutzer interessierten sich auch für folgende News 08:54 - PR Newswire Samson Rock Capital LLP - Form 8.3 - Spirent Communications PLC 08:53 - PR Newswire Samson Rock Capital LLP - Form 8.3 - Shanta Gold Ltd 08:52 - PR Newswire Samson Rock Capital LLP - Form 8.3 - Network International Holdings Plc SolarBank    Wie die Revolution der sauberen Energie eine solide Investitionsmöglichkeit bieten könnte weiterlesen» Anzeige wo-site-teaser-box-16755_site-teaser-box_2024-04-25_09%253A00%253A00_2024-04-26_09%253A00%253A59