Revenue during the quarter went up marginally by 0.67 percent to $127.28 million from $126.43 million in the previous year period. Gross margin for the quarter contracted 54 basis points over the previous year period to 17.19 percent. Total expenses were 92.56 percent of quarterly revenues, up from 92 percent for the same period last year. That has resulted in a contraction of 56 basis points in operating margin to 7.44 percent.

Operating income for the quarter was $9.47 million, compared with $10.11 million in the previous year period.

"Fourth quarter 2016 revenue increased despite the $5.4 million impact of foreign currency exchange rate declines," stated Scott N. Greenberg, chief executive officer. "This reflects increased revenue in three of our four operating segments with particularly strong growth in Learning Solutions which grew revenue to $55.0 million during the fourth quarter of 2016 from $52.6 million in 2015, despite a $3.9 million negative effect of foreign currency. While we have continued to see a year over year downturn in our Professional & Technical Services segment, its revenue has stabilized on a sequential quarterly basis. In addition, we recently completed the acquisition of McKinney Rogers, giving GP Strategies further inroads to assist clients at the C-suite level execute their business strategies."

Debt comes down marginally
GP Strategies Corporation has recorded a decline in total debt over the last one year. It stood at $57.69 million as on Dec. 31, 2016, down 1.42 percent or $0.83 million from $58.53 million on Dec. 31, 2015. Total debt was 18.28 percent of total assets as on Dec. 31, 2016, compared with 19.36 percent on Dec. 31, 2015. Debt to equity ratio was at 0.34 as on Dec. 31, 2016, down from 0.37 as on Dec. 31, 2015. Interest coverage ratio deteriorated to 15.83 for the quarter from 27.32 for the same period last year.