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GTEC Sees Growth in 2010; CEO John Hillen Comments

John Hillen

GTEC (NASDAQ: GTEC) rolled out its full year and fourth quarter 2010 financial results

According to the firm, “Revenue for the full year 2010 was $232.7 million, which reflects over 9% revenue growth compared to $212.8 million in 2009.  Revenue for the fourth quarter 2010 was $82.2 million, which reflects 47% growth compared to $55.8 million in the fourth quarter of 2009.”

GTEC CEO John Hillen pointed to then firm’s actions in the second half of 2010 the keyed the success.

“Our fourth quarter results demonstrate the momentum that GTEC built in the second half of 2010 with sizable new contract awards and the completion of two significant acquisitions, which provide heightened visibility to our 2011 outlook, ” Hillen said. “GTEC’s strategic positioning in priority funding areas – counterterrorism, cybersecurity, C4ISR and force mobility – provides resistance to potential market headwinds, a fact that is demonstrated by our 2011 growth outlook.”

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