GTSI Corp Releases Second Quarter 2011 Results Filing

Herndon-based GTSI Corporation(NASDAQ:GTSI), has filed its condensed financial statements for the six months ended June 30, 2011.

The detailed report includes financial data for the second quarter of 2011 as well as a documented history of the company.

The link to the sec file—10-Q quarterly report—can be found by clicking here.

Summary

GTSI Corp revenue declined 39.8% from $135 Million in the prior year 2010 to $81.3 Million in the second quarter of 2011. A net loss continued from the previous second quarter as well to $1.45 Million in Q2 2011.

Cash and cash equivalents increased from only $4.05 Million as of December 31, 2010 to $45.94 Million as of June 30, 2011

Sterling Phillips, GTSI's Chief Executive Officer and President. noted "For the second quarter and first half of 2011, we have significantly improved results from GTSI Operations compared to the second quarter and first half of 2010. We are working to improve the results of GTSI Operations by focusing on higher gross margin business and reducing the cost of operations." 

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