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GP STRATEGIES CORP

No Longer Reporting

The company has not filed an annual or quarterly report since its Q2 FY2021 10-Q, filed Aug 9, 2021. Its latest SEC filing is a 15-12B from Oct 25, 2021.

The sections below describe the company as of the FY2020 annual report.

What Did They Do?

Provides workforce training, consulting, and technical services to businesses and government agencies.

How Did They Make Money?

Clients are billed based on time, milestones, project completion or resources supplied. Most fixed-price project fees build as work progresses; course and workshop fees are charged when delivered, and printed materials on delivery.

revenue

Who Were Their Customers?

Companies across automotive, financial services, technology and other sectors, plus government agencies, buy its services through proposals; some clients invite it to bid.

Customers above 10% of revenue, FY2020
of revenue from one customer
FY2018: 14% from one customer

Did Revenues Turn Into Profits?

Yes. It kept 1 cent of every revenue dollar as net income in .

Operating income,
3% of revenue
▼ −57% vs ($28M, 5%)
Net income,
1% of revenue
▼ −53% vs ($15.2M, 3%)

How Were They Changing?

Since the FY2020 annual report
Latest quarter: Q2 FY2021, the three months to Jun 30, 2021
Revenue
▲ +21%
vs $106.1M in Q2 FY2020
Net income
▲ Now profitable
vs −$606K in Q2 FY2020
Organizational Performance Solutions share of revenue vs 34.3% in Q2 FY2020
  • Oct 14, 2021 LTG completed its acquisition of GP Strategies The company became LTG’s wholly owned, indirect subsidiary; eligible common shares converted into a right to receive $20.85 in cash.
  • Oct 6, 2021 Sold the EtaPRO business to Toshiba The sale of substantially all related assets and liabilities closed for approximately $40 million in cash, subject to adjustments and escrow.

Held flat. Revenue was $473.1M in , about the same as the $490.6M of .

Exited alternative fuels The earlier report described services for alternative-fuel users, including designing and building fueling stations and supplying equipment; the latest report says the Alternative Fuels Division was sold.

Revenue over time
Organizational Performance Solutions Technical Performance Solutions Automotive Performance Solutions
$1B$500M$0

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