Gtsi Corp (GTSI) SEC Filing 10-K Annual report for the fiscal year ending Saturday, December 31, 2011

Exhibit 99.1

GTSI Reports Fourth Quarter Results

HERNDON, VA., March 29, 2012

Reported Results

For the fourth quarter of 2011, GTSI reported revenue of $109.3 million compared to $192.5 million for the fourth quarter of 2010, a revenue decline of 43.2%. Gross margin for the fourth quarter of 2011 decreased to $17.9 million from $19.6 million, a reduction of 8.6% from the same period in 2010. Gross Margin percent for the fourth quarter was 16.4% compared to 10.2% for the same quarter last year. Operating expenses declined $6.0 million, or 25.7%, to $17.2 million compared to $23.2 million for the fourth quarter of 2010. The resulting income from Operations of $0.7 million is a $4.3 million improvement from the $3.6 million loss from operations reported for the fourth quarter of 2010. Equity earnings from GTSI’s investment in Eyak Technology LLC (EyakTek) declined $1.9 million as a result of the sale of our equity interest during the third quarter. The net income for the fourth quarter of 2011 was $0.4 million, compared to net loss of $1.0 million for the same period in 2010. Earnings per share improved $0.15 per share, or 136.4%, compared to $.11 loss per share from the same quarter last year.

For the twelve months ended December 31, 2011, GTSI reported revenue of $356.7 million compared to $666.7 million for the same period in 2010, a decline of 46.5%. Gross margin for the twelve months ended December 31, 2011 decreased $17.9 million to $62.4 million, or 22.4%, when compared to full year results for 2010. Gross Margin percent for 2011 is 17.5% compared to 12.1% for 2010. Operating expenses declined $16.8 million, or 19.1%, to $70.9 million. The loss from Operations increased for the twelve months ended December 31, 2011 by $1.2 million compared to 2010. Equity earnings from our EyakTek investment increased $2.4 million including the gain on the sale of our ownership interest of $7.3 million. Net income for 2011 was $0.5 million compared to net loss of $0.9 million for 2010. Earnings per share for 2011 was $.05, which was a 154.0% increase compared to the loss per share of $.10 in 2010.

GTSI ended the quarter with $54.9 million in cash on hand. The Company had no long-term debt and no borrowings under its credit facility. As of December 31, 2011, GTSI had stockholders’ equity of $97.0 million or $10.02 per diluted share.

Conference Call

An investor conference call to discuss fourth quarter results is scheduled for 11:00 a.m. Eastern Time March 29, 2012. Interested parties are invited to participate by calling 800-593-9034 or 334-323-7224, pass code is GTSI. In addition, you may access the webcast on GTSI’s Investor Relations page (www.gtsi.com/ir). Webcast will be available for replay through May 28, 2012. To listen to the live call on the Internet, go to the web site at least 15 minutes early to register, download and install any necessary audio software. A replay will be available following the conclusion of the call until 6:00 p.m. eastern, May 28, 2012. To access the replay, please dial 877-919-4059 or 334-323-7226, pass code 39488942.