VSE Q2 revenues up YoY

VSE Corporation (Nasdaq: VSEC) said that for the second quarter of 2015, revenues were USD131 million compared to USD108 million in the second quarter of 2014.

For the first six months, revenues were USD252 million in 2015 compared to USD227 million in 2014. The company said the inclusion of its Aviation Group and revenue increases from its Supply Chain Management Group offset revenue declines from the Federal Services Group.

“We are successfully integrating our Aviation Group acquired on January 28, 2015, and continue to execute our strategy to expand our markets for sustainment services outside our traditional federal customer base,” said Maurice “Mo” Gauthier, VSE CEO.

Operating income was USD11.5 million for the second quarter of 2015 compared to USD10.7 million for the second quarter of 2014. For the first six months, operating income was USD22.2 million in 2015 compared to USD22.1 million in 2014.

Net income was USD5.5 million for the second quarter of 2015, or USD1.02 per diluted share, compared to USD5.7 million, or USD1.06 per diluted share for the second quarter of 2014. Net income was USD10.7 million for the first six months of 2015, or USD1.99 per diluted share, compared to USD11.3 million, or USD2.11 per diluted share for the first six months of 2014.

Established in 1959, VSE is a diversified sustainment and services company with experience in solving issues of global significance with integrity, agility, and value.