VSE Corp. Rolls Out Financial Figures, Seeks Continued Growth of Core Capabilities

VSE Corporation (Nasdaq: VSEC) reported revenues for the fourth quarter of 2010 were $212 million compared to $256 million in the fourth quarter of 2009 and revenues in 2010 were $866 million, compared to $1.015 billion in 2009.

“This year was once again distinguished by significant headwinds best characterized by sluggish award activities and delayed funding of existing contracts, which has put pressure on current revenues and funded backlog, ” CEO Maurice Gauthier said. “Our successful efforts to improve our profit margins have helped us to defend our bottom line in a year in which we have experienced challenges in reshaping and sustaining the sources of our revenue. We will continue our strategic efforts to grow our core capabilities through increases in our direct labor workforce and the pursuit of lines of business that are more profitable.”

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