Here is why SPAR Group, Inc. (SGRP) shares plummet in the pre-market session

ASTR Stock
ASTR Stock

SPAR Group, Inc. (NASDAQ: SGRP) nose-dived -17.2% to 0.861 in the pre-market trading after a leading provider of retail marketing, business technology and other marketing services throughout North America, Latin America and Asia-Pacific, announced financial results for the three and nine months ended September 30, 2020.

In comparison with the same periods during the prior year, the following highlights can be found for the three and nine-month periods ended September 30, 2020:

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Revenue decreased $7.6 million, or 11.4 per cent, to $58.9 million in the third quarter of 2020 versus the prior year’s third quarter.

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Domestic revenues were up 2.1 per cent. However international revenues declined by 20.4 per cent. Sales dropped $20.7 million, or 10.8 per cent, to $171.2 million during the nine-month period ending September 30, 2020.

Domestic and international operations saw respective declines of 0.9 per cent and 16.8 per cent. Operating income grew 9.6 per cent to $3.3 million during the third quarter of 2020 from $3.0 million during the same period last year.

Operating income for the nine-month period ending September 30, 2020, decreased $2.2 million to $6.8 million, compared to $9.0 million for the same period last year.


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