Overview
SPAR Group Q2 rev of $38.6 mln, reflecting divestitures impact
Consolidated gross margin improves to 23.5% from 21.4% in Q1
Net income break-even vs $3.9 mln loss in prior yr qtr
Outlook
Company highlights $200 mln future business opportunities in U.S. and Canada
SPAR Group emphasizes solid balance sheet and liquidity over $15 mln
Result Drivers
REVENUE GROWTH - U.S. and Canada revenues increased 5% yr/yr
GROSS MARGIN IMPROVEMENT - Consolidated gross margin rose to 23.5% from 21.4% in Q1, indicating improved profitability
DIVESTITURE IMPACT - Sales declines from prior year due to exit from joint ventures in Mexico, China, Japan, and India
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Revenue |
| $38.63 mln |
|
Q2 Net Income |
| -$1,000 |
|
Q2 Gross Profit |
| $9.06 mln |
|
Q2 Operating Income |
| $715,000 |
|
Q2 Pretax Profit |
| $119,000 |
|
Press Release: ID:nGNXbdzxy8