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GP Strategies Reports Record Revenue of $102 Million for Second Quarter of 2012
Date:8/2/2012

ELKRIDGE, Md., Aug. 2, 2012 /PRNewswire/ -- Global performance improvement solutions provider GP Strategies Corporation (NYSE: GPX) today reported financial results for the quarter ended June 30, 2012.

Overview of Second Quarter 2012 Results:

  • Revenue of $102.3 million for second quarter of 2012 compared to $86.0 million for second quarter of 2011
  • Operating income of $9.9 million for second quarter of 2012 compared to $7.8 million for second quarter of 2011
  • Diluted earnings per share of $0.31 for second quarter of 2012 compared to $0.25 per share for second quarter of 2011
  • EBITDA of $12.0 million for second quarter of 2012 compared to $9.6 million for second quarter of 2011
  • The Company's revenue increased 19% or $16.3 million during the second quarter of 2012 compared to the second quarter of 2011.  Revenue grew organically by 14% or $11.9 million during the second quarter. All of the Company's operating segments achieved organic growth during the quarter, and the Sandy Training & Marketing and Learning Solutions segments achieved double-digit growth during the quarter. The improved results were driven by increased training services for both new and existing customers across a variety of industries, with the largest increases in the automotive and financial services sectors. Operating income increased 27% to $9.9 million for the second quarter of 2012 from $7.8 million for the second quarter of 2011. Net income was $6.0 million for the second quarter of 2012 compared to $4.7 million for the second quarter of 2011. The second quarter 2011 results included a $1.0 million non-recurring gain on the reversal of a deferred rent liability, which resulted in $0.03 per share for both the three and six months ended June 30, 2011 after being tax effected."I am pleased to report
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    SOURCE GP Strategies
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