ALEXANDRIA, Va., April 9, 2008 (PRIME NEWSWIRE) -- VSE Corporation (Nasdaq:VSEC) reported today that its Engineering and Logistics Division led by Vice President Donnelle Moten was awarded a new contract task order. This new 36-month task order for Army Reserve Equipment Engineering, Maintenance and Logistics Readiness support represents potential VSE revenues of approximately $149.1 million if all options are exercised.
VSE Engineering and Logistics Division personnel will perform material maintenance, upgrade, and refurbishment projects critical to the equipment readiness of the U.S. Army Reserve. These tasks will be performed by VSE employees at engineering facilities in Texas, Mississippi, Missouri, California, and Virginia. The company will also provide the Army Reserve with critical logistics services and training support. VSE looks forward to working with Army Reserve citizen-soldiers and with the Department of the Army civilian work force to accomplish these important readiness tasks.
Established in 1959, VSE provides engineering, consulting, systems integration, scientific and management solutions to customers in the defense, homeland security, law enforcement, energy and environmental markets. With executive offices in Alexandria, Virginia, VSE's staff numbers more than 1,200 employees supporting clients at locations and facilities across the United States and around the world. For the year ended December 31, 2007, VSE reported consolidated revenues of $653.2 million and earnings of $14.1 million ($2.82 per diluted share).
For more information on VSE services and products, please see the Company's web site at www.vsecorp.com or contact Len Goldstein, Director of Business and New Product Development, at (703) 317-5202.
The VSE Corporation logo is available at http://www.primenewswire.com/newsroom/prs/?pkgid=4908
Safe Harbor
This news release contains statements which, to the extent they are not recitations of historical fact, constitute "forward looking statements" under federal securities laws. All such statements are intended to be subject to the safe harbor protection provided by applicable securities laws. For discussions identifying some important factors that could cause actual VSE results to differ materially from those anticipated in the forward looking statements in this news release, see VSE's public filings with the Securities and Exchange Commission.