GSE Systems, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 15, 2023 at 01:35 am IST
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GSE Systems, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was USD 12.39 million compared to USD 12.75 million a year ago. Net loss was USD 1.5 million compared to USD 1.4 million a year ago. Basic loss per share from continuing operations was USD 0.6 compared to USD 0.7 a year ago. Diluted loss per share from continuing operations was USD 0.6 compared to USD 0.7 a year ago.
For the six months, sales was USD 23.26 million compared to USD 25.02 million a year ago. Net loss was USD 4.45 million compared to USD 4.84 million a year ago. Basic loss per share from continuing operations was USD 1.9 compared to USD 2.3 a year ago. Diluted loss per share from continuing operations was USD 1.9 compared to USD 2.3 a year ago.
GSE Systems, Inc. is a provider of engineering services and technology, staffing, and simulation software to clients in the power and process industries. Its segments include Engineering and Workforce Solutions. Engineering segment primarily encompasses its power plant high-fidelity simulation solutions, technical engineering services for American Society of Mechanical Engineers programs, power plant thermal performance optimization, and interactive computer-based tutorials/simulation focused on the process industry. It also includes various simulation products, engineering consulting services, and operation training systems delivered across the industries its serves primarily in the nuclear, fossil fuel power generation and the process industries. The Workforce Solutions segment provides specialized, technical talent and specialty services throughout the energy, engineering, and adjacent industries including construction, government, infrastructure, environmental, and manufacturing.