Wilhelmina International, Inc. Reports Results for First Quarter 2022

First Quarter Financial Results

DALLAS, May 11, 2022 (GLOBE NEWSWIRE) -- Wilhelmina International, Inc. (Nasdaq:WHLM) ("Wilhelmina" or the "Company") today reported revenues of $16.6 million and net income of $0.7 million for the three months ended March 31, 2022, compared to revenues of $12.0 million and net income of $2.2 million for the three months ended March 31, 2021. Increased revenues in 2022 were primarily due to increased bookings as the cities where Wilhelmina operates reopened and business activity increased as COVID-19 restrictions were moderated or rescinded. Prior year income was impacted by $1.9 million of gain on forgiveness of PPP loans and $0.4 million of employee retention payroll tax credits during the quarter ended March 31, 2021.