VSE Corporation Announces $26.6 Million Order
ALEXANDRIA, Va.--(BUSINESS WIRE)-- VSE Corporation (NASDAQ: VSEC), a leading provider of aftermarket distribution and repair services for land, sea and air transportation assets in the public and private sectors, today announced a one-time $26.6 million order for COVID-19 related supplies for a United States government customer in conjunction with ongoing efforts to respond to the global outbreak of the novel coronavirus infection (“COVID-19”).
VSE anticipates weekly shipments to commence soon, with delivery of all supplies completed during the second or third quarter of 2020.
“For more than 60 years, VSE distinguished itself as a trusted strategic partner to the U.S. government, capable of supplying the highest quality equipment, services and expertise crucial to the safety and well-being of our public agencies and military in their time of need,” stated John Cuomo, President and CEO of VSE Corporation. “In recent weeks, we were called upon to procure COVID-19 related supplies for the federal government as it responds to the threat posed by COVID-19. During what remains a fluid situation, we are ready to provide further support, particularly as we seek to protect those actively engaged in protecting and maintaining our nation’s essential infrastructure and security.”
About VSE Corporation
VSE is an aftermarket parts and services company providing maintenance repair and overhaul (MRO) services; parts distribution; supply chain management and logistics; engineering support; and consulting and training services for vehicle fleet, marine, and aviation transportation assets to global commercial, federal and military and defense customers. VSE also provides information technology and energy technical and advisory services. For additional information regarding VSE’s services and products, visit us at www.vsecorp.com.
Forward Looking Statements
This press release contains certain forward-looking statements. These forward-looking statements, which are included in accordance with the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, may involve known and unknown risks, uncertainties and other factors that may cause VSE’s actual results to vary materially from those indicated or anticipated by such statements. Many factors could cause actual results and performance to be materially different from any future results or performance, including, among others, (1) uncertainty surrounding the ongoing COVID-19 outbreak and its impact on our ongoing operations and financial condition and (2) other risk factors described in our reports filed or expected to be filed with the SEC. The foregoing list of risk factors is not exclusive. Any forward-looking statement or statement of belief speaks only as of the date of this press release. We undertake no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.
Source: VSE Corporation
Released April 27, 2020