GTSI Corp. reported net income of $5.1 million for the fourth quarter, up slightly from $5 million the year before.
The electronics direct marketer to governments reported sales of $280.1 million for the quarter ended Dec. 31, 2002, up from $280 million in 2001.
For 2002, the Chantilly, VA firm reported net income of $9.5 million, up 112% from $4.5 million the year before. Sales for the year of $934.7 million were up 19.3% from $783.5 million the year before.
The company attributed its growth to an increased demand across all government agencies for information technology products. “This cuts across all civilian and defense agencies,” said GTSI spokesman Tom Mutryn.
Last summer, GTSI went back into the catalog business with a quarterly magalog after a three-year absence during which time it tried to replace the catalog with online selling (Direct Newsline, Oct. 1, 2002).
Network
