GP Strategies Corporation announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2016. For the quarter, the company reported revenue of $127,283,000 compared to $126,431,000 a year ago. Operating income was $9,468,000 compared to $10,110,000 a year ago. Income before income tax expense was $8,447,000 compared to $9,563,000 a year ago. Net income was $6,732,000 or $0.40 per basic and diluted share compared to $6,252,000 or $0.37 per basic and diluted share a year ago. EBITDA was $10,538,000 compared to $11,784,000 a year ago. Net cash provided by operating activities was $6,179,000 compared to $16,026,000 a year ago. Capital expenditures were $218,000 compared to $526,000 a year ago. Free cash flow was $5,961,000 compared to $15,500,000 a year ago. During the fourth quarter, company experienced a $5.4 million reduction in revenue due to a decline in exchange rate compared to the average exchange rate during the fourth quarter of 2015. This decline contributed to a 4% decrease in revenue over the fourth quarter of 2015.

For the year, the company reported revenue of $490,559,000 compared to $490,280,000 a year ago. Operating income was $31,424,000 compared to $32,322,000 a year ago. Income before income tax expense was $30,034,000 compared to $29,623,000 a year ago. Net income was $20,247,000 or $1.21 per basic and diluted share compared to $18,789,000 or $1.09 per diluted share a year ago. EBITDA was $38,064,000 compared to $38,869,000 a year ago. Net cash provided by operating activities was $18,077,000 compared to $25,554,000 a year ago. Capital expenditures were $1,402,000 compared to $2,357,000 a year ago. Free cash flow was $16,675,000 compared to $23,197,000 a year ago. There was a $14 million revenue decrease in 2016 due to a decline in exchange rate, which contributed to a 3% reduction in revenue over 2015

For the full year of fiscal 2017, company projecting a tax rate of approximately 34% to 35%.