GTSI's Revenue Falls 43% Following SBA Suspension

Law360, New York (March 30, 2012, 3:05 PM EDT) -- Federal technology contractor GTSI Corp.'s fourth-quarter 2011 revenues declined 43 percent compared to the fourth quarter of 2010, GTSI said Thursday, attributing the steep reduction to staff turnover and turmoil resulting from a suspension by the Small Business Administration.

The SBA suspended GTSI from federal contracting in October 2010, after determining that the contractor improperly teamed with a Native-Alaskan-owned small business to gain access to $200 million in information technology work that the Department of Homeland Security had set aside for small businesses. Two small businesses...
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