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Stock Market & Financial Investment News

News Breaks
December 20, 2012
16:20 EDTVSECVSE Corp. sees restructuring impacting FY12 EPS by 90c
In connection with the determination to divest ICRC and eliminate VSE’s Infrastructure Group, VSE expects to incur pre-tax charges of approximately $7.8M of which approximately $5.8M is attributable to goodwill and intangible write-offs. The impact to fiscal 2012 net income is expected to be approximately $4.8 M, and the impact to fiscal 2012 diluted EPS is expected to be approximately 90c in Q412. The estimated pre-tax charges, net income, and diluted EPS do not include any proceeds from a potential sale.
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September 18, 2014
17:51 EDTVSECVSE Corp. to consolidate two operating groups
VSE Corporation announced plans to consolidate its International Group and Federal Group, and report their combined results as a single operating group beginning in 2015. The consolidation of the two operating groups into one will be managed by the company's CEO, and brings much of the company's U.S. Department of Defense work under a single umbrella. In connection with this action, the company has eliminated several officer positions, including International Group President and Federal Group President, effective September 30. These actions follow a strategic review of the company’s operating model and are part of a continuing cost balancing initiative.

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