The engineering and workforce solutions company GSE Systems Inc GSE Systems (NASDAQ:GVP) was in focus among investors yesterday despite there being no news about the company at all. Investors moved in to the GSE Systems stock in a big way yesterday and the stock ended the day with gains of as much as 13%.
In this context, it might be a good move for investors to perhaps take a look at a development with regards to the company from back on August 16. On that day, the company announced its financial results for the second fiscal quarter that had ended on June 30, 2021.
The company managed to generate revenues of as much as $13.5 million during the quarter, which represented a rise of 3.5% on a sequential basis. However, it was lower than the $14.3 million that GSE Systems had generated in the prior year period.
The boost in revenues on a sequential basis was primarily brought about by the 11% rise that had been recorded by the workforce solutions business of GSE Systems. On the other hand, the year on year decline in revenues was a result of the ongoing effects of the coronavirus pandemic on the power industry as a whole.