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GSE System posts Q2 loss of $100K

A Columbia company that provides engineering, staffing and simulation software to energy and industrial process firms had a net loss in its second-quarter financial results.

GSE Systems Inc. lost $100,000, a result that was down from a net profit of $1 million in the previous year’s second quarter.

Kyle, J. Loudermilk, president and CEO of GSE, said in a news release that the adjusted EBITDA was reduced by about $4,000 in the quarter because of a work suspension by a customer of one of the company’s subsidiaries. The contract with that customer ended Aug 6, and GSE expects to reduce its expenses related to it by the end of the third quarter.

 


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