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Sykesville-based GSE Systems reports loss in 2Q

GSE Systems Inc., of Sykesville, reported a second-quarter net loss of $8.2 million, or 45 cents per diluted share, versus net income of $158,000, or 1 cent per diluted share, for the year-ago period.

Revenue declined to $11 million from $13.2 million in the 2012 quarter.

GSE, which makes real-time simulation and training software for the energy, process, manufacturing and government sectors, said delays or cancellations of nuclear projects by customers and governments overseas, affected its earnings, as well as $6.6 million in non-cash charges related to goodwill impairment and software development cost write-downs.

Excluding the one-time charges, the net loss would have been $1.6 million, or 9 cents per share.

Analysts polled by Thomson Reuters had forecast, on average, a loss of 5 cents on revenue of $12.5 million.