secwatch.observer — SEC 8-K summary
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Issuer:     Wilhelmina International, Inc. (WHLM)
CIK:        0001013706
Form:       8-K
Filed at:   2022-05-11T23:59:59+00:00
Accession:  0001171843-22-003575
Event type: earnings
Sentiment:  neutral
Materiality: 0.60
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Q1 revenue up 39% to $16.6M; net income falls to $0.7M on absence of PPP gain
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- Total revenues $16.6M vs $12.0M YoY; operating income $874K vs $100K.
- Net income $739K ($0.14/diluted share) vs $2.2M ($0.43) in Q1 2021.
- Prior-year results included $1.9M PPP loan forgiveness gain and $0.4M employee retention credit.
- Adjusted EBITDA $988K vs $369K (+168%); Pre-Corporate EBITDA $1.2M vs $614K (+102%).
- Cash $9.4M at quarter-end; bookings improved as COVID restrictions eased.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1013706/000117184322003575/0001171843-22-003575-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1013706/000117184322003575/f8k_051122.htm
  HTML page:      https://secwatch.observer/filing/0001171843-22-003575

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer