GTSI revenue declines
- March 5, 2010
Information technology contractor GTSI saw its revenue decline 7.1 percent in the fourth quarter.
The Herndon-based company reported sales of $243.5 million as product sales declined. Net income was down 23.1 percent to $5.8 million, mostly because of a tax allowance benefit the company realized in the fourth quarter of 2008.
“The strength and resiliency of GTSI was tested in 2009, but we ended with a terrific fourth quarter,” Scott Friedlander, GTSI’s president and CEO said in a statement. “Despite the headwinds throughout the year, our team never lost sight of our customers’ objectives. We designed and delivered critical solutions and services to meet our customers’ pressing technology needs.
For the year, GSTI had sales of $761.9 million, a 7.2 percent decrease over 2008.