GTSI » Topics » Q2 2006 Results

This excerpt taken from the GTSI 8-K filed Dec 22, 2006.

Q2 2006 Results

For the second quarter 2006, GTSI reported sales of $180.9 million, a 1% increase over the same period a year ago, and net income of $944,000 or $0.10 per fully diluted share versus a net loss in the second quarter of 2005 of $5.5 million or $0.60 per fully diluted share.  Selling, general, and administrative expenses were $27.1 million, down $1.3 million from the same period in 2005.

Gross margin was up $7.4 million to $26.5 million in the second quarter of 2006 versus the second quarter of 2005.  Gross margin percentage for the second quarter of 2006 was 14.7%.

“The second quarter was positively impacted by several high margin transactions,” said Leto.  “The quarter was a remarkable change from the second quarter of 2005, when GTSI was at the beginning stages of endeavoring to complete an enterprise resources planning system, which disrupted activities up through the first quarter of 2006.”

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