Business
SPAR Group, Inc. Postpones First Quarter 2023 Earnings Report
AUBURN HILLS, Mich., May 15, 2023 /PRNewswire/ -- SPAR Group, Inc. (NASDAQ: SGRP) ("SPAR", "SPAR Group" or the "Company"), a leading global provider of
About this update from Spar Group, Inc.
[{"type":"text","content":"AUBURN HILLS, Mich., May 15, 2023 /PRNewswire/ -- SPAR Group, Inc. (NASDAQ: SGRP) (\"SPAR\", \"SPAR Group\" or the \"Company\"), a leading global provider of merchandising and marketing services, today announced that it is postponing its earnings report and conference call to allow for additional time for the Company and the Company's external auditors to complete their work on first quarter's results.\nAlthough the Company's external auditors are finalizing their work, the Company currently anticipates revenue for the three months ended March 31, 2023 to be $64 million, up 9.1%, with gross margin expansion for the quarter compared to the prior year quarter, as well as operating income up over 50% compared to the prior year quarter.\nThe Company will issue the earnings report upon the completion of the external auditor's quarterly review.\nAbout SPAR Group, Inc.\nSPAR Group is a global merchandising and marketing services company, providing a broad range of services to retailers, manufacturers, and distributors around the world. With more than 50 years of experience, 25,000+ merchandising specialists around the world, an average of 200,000+ store visits a week and long-term relationships with some of the world's leading manufacturers and retail businesses. For more information, please visit the SPAR Group's website at http://www.sparinc.com.\nCautionary Note Regarding Forward-Looking Statements\nThis Press Release contains, and the above referenced recorded comments, will contain \"forward-looking statements\" within the \"safe harbor\" provisions of the Private Securities Litigation Reform Act of 1995, made by, or respecting, SPAR Group, Inc. (\"SGRP\") and its subsidiaries (together with SGRP, \"SPAR\", \"SPAR Group\" or the \"Company\"), filed in a Current Report on Form 10-Q by SGRP with the Securities and Exchange Commission (the \"SEC\") on November 15, 2021. There also are forward-looking statements contained in SGRP's Annual Report on Form 10-K for its fiscal year ended December 31, 2021, as filed with the SEC on April 15, 2022, and SGRP's First Amendment to Annual Report on Form 10-K/A for the year ended December 31, 2020, as filed with the SEC on May 2, 2022 (as so amended, the \"Annual Report\"), in SGRP's amended definitive Proxy Statement respecting its Annual Meeting of Stockholders held on August 12, 2021, which S...