VSE Corp.

The VSE Building

Year founded: 1959

Industry: Government services

Post 200 Category: Top 125 Companies

Revenue: $216.01 Million

Net Income/Loss: $3.44 Million

Earnings per share: $1.49

Dividend: $0.19

Stockholder equity: $23.04 Million

Auditor: Ernst & Young LLP

Stock: VSEC

Assets: $60.35 Million

Market capitalization: $60.84 Million

52-week high: 33.91 9/30/2004

52-week low: 14 8/2/2004

Chairman and CEO: Donald M. Ervine

Director, International Group: James M. Knowlton

Employees: 625

Local employees: 265

Description: VSE's basic business is taking old, decommissioned Navy ships, refurbishing them, and selling them to other countries. But the company serves other branches of the military as well.

Developments: VSE turned in a record year in 2004, generating $3.4 million in earnings on revenue of $216 million. It was the first time the company generated more than $200 million in revenue, chairman and chief executive Don Ervine said in February. VSE said its Navy ship transfer business continued to lead the company's growth. Among other contracts, the company signed a $99.9 million deal in February 2004 to reactivate four Kidd-class destroyers for sale to the Taiwanese navy. In March of last year VSE announced a $12.3 million contract with the Army to provide radios and other devices to Croatia under the federal government's Foreign Military Sales Program. VSE also provides general engineering and logistical support services to the government. The company's stock got a big boost last April 7 when it announced that its Fleet Maintenance Division had won a contract from the U.S. Naval Surface Warfare Center. The contract allows VSE to bid for Navy support and logistics work in seven regional zones in the U.S. The firm's shares got an even bigger boost over the summer, rising 55 percent on Sept. 24 and 28 percent on Sept. 29 after the company announced that it was among seven firms awarded a contract to maintain naval ships. For the year, VSE's stock soared 89 percent.