logo
Plus   Neg
Share
Email

VSE Corp. Q4 Profit Rises

Federal services company VSE Corporation (VSEC) 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.

by RTTNews Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
German banking giant Deutsche Bank announced Thursday more than 7000 job cuts in its Equities Sales & Trading business, in its efforts to cut costs following weak trading performance. The company sees restructuring charges of up to 800 million euros in its 2018 results. Deutsche Bank shares were losing in German trading as well as on pre-market trading in NYSE. Tens of thousands of casino workers in Las Vegas voted Tuesday to authorize a city-wide strike anytime after June 1 if labor contract agreements are not reached before they expire at the end of May. This would be the first strike in more than three decades in Las Vegas and could cripple the city's famed hospitality industry. Ten former and current employees of McDonald's Corp. have filed sexual harassment complaints with the federal government against the fast food giant. The women filed the complaints with the U.S. Equal Employment Opportunity Commission or EEOC and are receiving support from Fight for $15, which is organizing the effort. The TIME's UP Legal Defense Fund is covering legal fees for the women.
RELATED NEWS
Trade VSEC now with 
Follow RTT