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(RTTNews) - Thursday morning, GP Strategies Corporation ( | | | ), a provider of training and e-Learning solutions, management consulting, and engineering services through its operating subsidiary General Physics Corporation, announced third quarter earnings that rose year-over-year on higher revenue. The company said income from continuing operations increased to $1.7 million or $0.

11 per share from $1.5 million or $0.07 per share for the third quarter of 2005.

For the third quarter of 2006, net income increased to $1.75 million or $0.11 per share, from $1.

04 million or $0.05 per share for the third quarter of 2005. GP said during the third quarter of 2006, operating income increased $0.

5 million to $3.1 million, compared to $2.6 million in the third quarter of 2005.

The company attributed the increase in operating income to an increase in gross profit of $0.2 million and a $0.2 million reduction in selling, general and administrative expenses during the third quarter of 2006 compared to the third quarter of 2005.

Gross profit for the quarter increased to $6.9 million from $6.7 million in the year-ago period.

Revenue was $44.1 million for both the third quarter of 2006 and third quarter of 2005. GP said while revenue in total was flat year over year, there was an increase of $3.

3 million in revenue in the Manufacturing BPO segment, offset by a decrease of $3.3 million in revenue for the Process, Energy Government segment. The company said during the nine months ended September 30, 2006, income from continuing operations increased to $4.

9 million or $0.28 per share from $3.7 million or $0.

20 per share for the same period of 2005. For the nine months ended September 30, 2006, net income increased to $4.8 million or $0.

14 per share from $2.73 million or $0.28 per share.

Revenue was $133.4 million for the nine months ended September 30, 2006 compared to $131.3 million for the same period of 2005.

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