logo
Share SHARE
FONT-SIZE Plus   Neg

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 RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Ciena Corp., a provider of communications networking solutions, on Thursday reported a turnaround to profit in the fourth quarter on higher revenues and lower expenses. However results for the quarter missed analysts' estimates. Looking ahead, the company forecast revenue for the first quarter of fiscal 2017 in line with analysts' expectations. Wearable fitness device maker Fitbit Inc. said it has acquired the assets of struggling smartwatch startup Pebble, including key personnel and intellectual property related to software and firmware development. The acquisition excludes Pebble's hardware products. Financial terms of the deal were not disclosed. Starbucks is teaming up with Pokémon Go, a location based augmented reality game, to turn its stores into PokéStops and Gyms, reports said. Further, the coffee giant reportedly would open Italian bakeries that serve pizza, with the first store expected to open in late 2017.
comments powered by Disqus
Follow RTT