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VSE Corp. Q4 Profit Rises

Federal services company VSE Corporation (VSEC: Quote) Monday reported fourth-quarter net income of $6.0 million or $1.15 per share, rising from $5.0 million or $0.96 per share last year.

Total revenues for the quarter declined 29.9 percent to $148.9 million from last year's $212.4 million, primarily due to expiration of the company's U.S. Army CECOM Rapid Responses contract, declines in work on other programs, delays in government contract awards, and delays caused by protests of contract awards. However, the decline was partially offset by revenues from acquisitions of Akimeka, LLC and Wheeler Bros, Inc.

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by RTT Staff Writer

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Following the lackluster performance seen during the previous session, stocks may move to the downside in early trading on Tuesday. The major index futures are currently pointing to a moderately lower open for the markets, with the Dow futures down by 33 points. Germany's investor confidence weakened to a level last seen in late 2012 amid concerns that the rising geopolitical tensions are hurting the European economy, data from the Centre for European Economic Research/ZEW showed Tuesday. The ZEW economic sentiment index fell to 6.9 in September from 8.6 in August. The index has been falling since last January and matched the score seen in December 2012. U.K. inflation slowed marginally as expected in August on falls in prices of motor fuels and food, data from the Office for National Statistics revealed Tuesday. Factory-gate prices declined for the second straight month indicating benign inflationary pressures in the pipeline. Consumer prices rose 1.5 percent year-on-year in August, slower than the 1.6 percent rise in July.
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