SPAR Group Inc. (SGRP) shares lost 3.29% in after-market on Monday, June 14, 2021, and closed the day at $1.47 per share. Earlier, SGRP’s stock gained 2.01% in Monday’s session. SGRP shares have risen 78.84% over the last 12 months, and they have moved up 1.33% in the past week. Over the past three months, the stock has lost 10.32%, while over the past six months, it has added 47.57%.
Let’s discuss its news and developments.
Recent financial results
On May 13, 2021, SPAR Group, Inc released its financial results for its first quarter ended March 31, 2021.
Q1 2021 financial highlights
- SPAR Group reported consolidated net revenue of $61.1 million in Q1 2021 compared to $61.3 million in Q1 2020.
- Gross Profit was $12.3 million and gross margin was 20.1% in Q1 2021 compared to $11.8 million gross profit and 19.2% gross margin in Q1 2019.
- Selling, General, and Administrative expenses were $9.01 million in Q1 2021 compared to $9.7 million in Q1 2020.
- Operating Income was $2.7 million in Q1 2021 compared to $1.5 million in the prior year’s first quarter.
- Net Income attributable to SPAR Group was $0.9 million in Q1 2021, compared to $0.3 million during the prior year’s first quarter.
- Earnings per share were $0.04 in Q1 2021 compared to $0.01 in the prior year’s quarter.
Increasing Credit Facility
On May 04, 2021, SPAR Group, Inc increased and extended the terms of its current line of credit. The maximum amount of the line of credit increased by $2 million to $18 million and the length of the term was extended by 18 months to October 2023.
Q4 and FY-2020 financial results announcement
On March 31, 2021, SPAR Group, Inc released its financial results for its fourth quarter and fiscal year ended December 31, 2020.
Q4 2020 financial highlights
- For Q4 2020 consolidated net revenue was $59.4 million compared to $61.1 million in the prior year’s fourth quarter.
- Gross Profit was $11.5 million with a gross margin of 19.4% in Q4 2020 compared to $12.0 million gross profit and gross margin of 19.7% in the prior year’s fourth quarter.
- Operating Income was $2.9 million in Q4 2020 compared to $1.2 million in the prior year’s fourth quarter.
- Net Income was $2.0 million in Q4 2020 when compared to a net loss of $(0.6) million in the prior year’s quarter.
- Earnings per share were $0.10, compared to a net loss of $0.03 in the prior year’s quarter.
FY2020 financial highlights
- Consolidated net revenue was $230.5 million in FY 2020 compared to $252.9 million in the prior year.
- Gross Profit was $45.2 million with a gross margin of 19.6%, in FY 2020 compared to $49.3 million gross profit and gross margin of 19.6% the prior year.
- Operating Income was $9.7 million in FY 2020 compared to $10.2 million in FY 2019.
- Net Income attributable to SPAR Group was $3.4 million in FY 2020 compared to $2.4 million in FY 2019.
- Earnings per diluted share were$0.16 per share for FY 2020 compared to $0.11 per share in the prior year.
Conclusion
The SGRP lost in the after-market is a bit strange because there is no recent news as of this writing. We hope that SGRP stock will recover its loss on Tuesday.
