secwatch.observer — SEC 8-K summary
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Issuer:     Wilhelmina International, Inc. (WHLM)
CIK:        0001013706
Form:       8-K
Filed at:   2022-03-16T23:59:59+00:00
Accession:  0001171843-22-001913
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Wilhelmina FY2021 revenue $56.8M (+37%), net income $4.5M; Q4 EPS $0.00; cyber fraud $0.6M charge
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- FY2021 revenue $56.8M, up 36.6% YoY; net income $4.5M ($0.88 diluted EPS) vs loss of $4.9M in 2020.
- Q4 2021 revenue $15.2M (+27% YoY), net income $23k ($0.00 EPS) vs $0.4M ($0.08 EPS) in Q4 2020.
- Adjusted EBITDA for FY2021 $3.6M, highest since 2011; Pre-Corporate EBITDA $4.5M, highest since 2013.
- Cybersecurity incident – business email compromise fraud – led to $0.6M charge in Q4 2021; cooperating with federal authorities.
- PPP loan forgiveness of $2.0M and $1.3M employee retention tax credit boosted annual results; term loan fully repaid.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1013706/000117184322001913/0001171843-22-001913-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1013706/000117184322001913/f8k_031522.htm
  HTML page:      https://secwatch.observer/filing/0001171843-22-001913

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