VSE Reports Financial Results for Fourth Quarter and Year Ended December 31, 2018
VSE Corporation (VSEC)
US:NASDAQ Investor Relations:
ir.vsecorp.com
Company Research
Source: Business Wire
Revenue Decline in Federal Services Group Partially Offset by Revenue Increase in Aviation Group ALEXANDRIA, Va.--(BUSINESS WIRE)-- VSE Corporation (Nasdaq: VSEC) reported the following consolidated financial results for the three months and twelve months ended December 31, 2018. CEO Commentary “Our lower revenues in 2018 resulted from a reduction of work in our Federal Services Group’s U.S. Navy Foreign Military Sales (FMS) and our U.S. Army programs,” said Maurice “Mo” Gauthier, VSE's CEO and President. “Our Aviation Group’s revenue increased approximately 8%, led by our Singapore operation. Our acquisition of 1st Choice Aerospace in January 2019 is expected to provide us with sustainable revenue sources and viable growth potential for our Aviation Group. We expect this acquisition to be accretive to earnings in 2019. Our Supply Chain Management Group revenues remained steady, with
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