GTSI Rides Stock Surge

GTSI Rides Stock Surge

The stock of GTSI Corp. of Chantilly, Va., received an upward bounce when the company announced that 2000 profits had jumped nearly 300 percent from 1999.

GTSI's stock rose from $4.09 on Feb. 2 to $5.75 when the company released its earnings on Feb. 5. The next day the stock hit a 12-month high of $6.75. On Feb. 12, GTSI closed at $5.81.

The surge was set off when the company announced that its net income reached $10.6 million in 2000, or $1.18 per share, up 296 percent over the $2.7 million reported as net income in 1999.

The company also is planning to spend $4.7 million to buy back its stock because the shares are undervalued, said Dendy Young, company chairman and chief executive officer.

Reader Comments

Please post your comments here. Comments are moderated, so they may not appear immediately after submitting. We will not post comments that we consider abusive or off-topic.

Please type the letters/numbers you see above

What is your e-mail address?

My e-mail address is:

Do you have a password?

Forgot your password? Click here
close

Trending

  • VIDEO: Explore the 2019 M&A Trends

    Editor Nick Wakeman interviews Kevin DeSanto of the investment bank KippsDeSanto about the highlights of their annual M&A survey and trends driving acquisitions in the federal space. Read More

  • PROJECT 38 PODCAST

    In our latest Project 38 Podcast, editor Nick Wakeman and senior staff writer Ross Wilkers discuss the major news events so far in 2019 and what major trends are on the horizon. Read More

contracts DB

Washington Technology Daily

Sign up for our newsletter.

Terms and Privacy Policy consent

I agree to this site's Privacy Policy.