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8-K - FORM 8-K - GTSI CORP | c22083e8vk.htm |
EX-10.1 - EXHIBIT 10.1 - GTSI CORP | c22083exv10w1.htm |
Exhibit 99.1
GTSI Authorizes $5 Million Share Repurchase Program
HERNDON, VA., August 31, 2011 GTSI, a leading provider of information technology to federal,
state and local government, announced today that its Board of Directors has authorized a share
repurchase program pursuant to Rules 10b5-1 and 10(b)-18 of the Securities Exchange Act of 1934
permitting the Company to repurchase up to $5,000,000 in shares of the Companys common stock.
This program is effective immediately and the common stock may be repurchased from time to time in
open market transactions or privately negotiated transactions in the Companys discretion. The
timing and amount of shares repurchased will be determined by the Companys management based on its
evaluation of market conditions and other factors. The repurchase program may be increased,
suspended or discontinued at any time.
The share repurchase program was approved by the Companys Board of Directors as part of its
ongoing consideration of capital allocation strategies to take advantage of the Companys strong
cash position. The Company believes that this share repurchase program is in the best interests of
the Company and its shareholders, and will not impact the Companys ability to execute its growth
plans.
As of June 30, 2011, the Company had 9,679,866 shares of common stock outstanding.
About GTSI Corp.
GTSI (NASDAQ: GTSI) is a leading provider of technology solutions and professional services to
federal, state, and local government. Founded in 1983, the company has helped meet the unique IT
needs of more than 1,700 governmental agencies nationwide. GTSI professionals draw on their deep
knowledge, strategic partnerships, more than 740 industry certifications, and customer service to
guide agencies in selecting the most cost-effective technology available. GTSI has extensive
capabilities and past performance in software development, data center, networking, collaboration,
security, and cloud computing solutions. In addition, GTSIs advanced engineering, integration,
support, and financial services and broad portfolio of contracts ease the planning,
purchasing, and deployment of solutions, and facilitates the management of mission-critical IT
throughout the lifecycle. Headquartered in Herndon, Va., GTSI has approximately 500 employees and
reported revenue of $666.7 million for the 12 months ended Dec. 31, 2010. For more information
visit the companys website at www.gtsi.com.
GTSI and GTSI.com are registered trademarks of GTSI Corp. in the U.S. and other countries. All
trade names are the property of their respective owners.
GTSI Contact:
Peter Whitfield
Senior Vice President & Chief Financial Officer
703.502.2954
peter.whitfield@gtsi.com
Peter Whitfield
Senior Vice President & Chief Financial Officer
703.502.2954
peter.whitfield@gtsi.com