COLUMBIA, Md. –
GSE Systems, Inc. (“GSE” or “the Company”) (Nasdaq: GVP), a leader in delivering end-to-end training, engineering, compliance, simulation, and workforce solutions to the power industry, today announced that it intends to file Form 12b-25 with the U.S. Securities and Exchange Commission (“SEC”) to automatically extend the date for filing its quarterly report on Form 10-Q for the three months ended September 30, 2019 by five days in order to provide additional time to complete analysis related to the valuation allowance and potential goodwill impairment charges associated with the Company’s acquisition of DP Engineering. The outcome of this review will have solely a non-cash impact on GSE’s third quarter 2019 financial results and will not impact adjusted EBITDA.
The Company intends to issue its third quarter 2019 financial results press release on Tuesday, November 19, 2019 after the close of the stock market. Management will host a conference call that day at 4:30 pm Eastern Time to discuss the results. The Company previously announced that it would conduct its conference call on November 14, 2019.
Interested parties may participate in the rescheduled financial results conference call by dialing:
- (877) 407-9753 (Domestic)
- (201) 493-6739 (International)
The conference call will also be accessible via the following link:
https://78449.themediaframe.com/dataconf/productusers/gvp/mediaframe/33234/indexl.html
ABOUT GSE SYSTEMS, INC.
GSE Systems, Inc. is a leading provider of engineering, expert staffing and simulation software to clients in the power and process industries. GSE’s products and services are tailored to help customers achieve performance excellence in design, training, compliance, and operations. The Company has over four decades of experience, more than 1,100 installations, and hundreds of customers in over 50 countries spanning the globe. GSE Systems is headquartered in Maryland, with offices in Alabama, Florida, Colorado, Texas, and Beijing, China. Information about GSE Systems is available at www.gses.com.
FORWARD LOOKING STATEMENTS
We make statements in this press release that are considered forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. These statements reflect our current expectations concerning future events and results. We use words such as “expect,” “intend,” “believe,” “may,” “will,” “should,” “could,” “anticipates,” and similar expressions to identify forward-looking statements, but their absence does not mean a statement is not forward-looking. These statements are not guarantees of our future performance and are subject to risks, uncertainties, and other important factors that could cause our actual performance or achievements to be materially different from those we project. For a full discussion of these risks, uncertainties, and factors, we encourage you to read our documents on file with the Securities and Exchange Commission, including those set forth in our periodic reports under the forward-looking statements and risk factors sections. We do not intend to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
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Company
Kyle Loudermilk
Chief Executive Officer
GSE Systems, Inc.
(410) 970-7800
The Equity Group Inc.
Kalle Ahl, CFA
(212) 836-9614
kahl@equityny.com