GSE Secures ~19 Million in New Orders for First Quarter of Fiscal 2023
COLUMBIA, Md., April 25, 2023 /PRNewswire/ — GSE Systems, Inc. (“GSE Solutions”, “GSE”, or “the Company”) (Nasdaq: GVP), a leader in advanced engineering and workforce solutions that support the future of clean-energy production and decarbonization initiatives of the power industry, today announced stronger order flow for the first quarter of fiscal 2023 of approximately $19 million. This compared to new orders of $11.4 million in the fourth quarter of fiscal 2022 and $11.1 million the first quarter of fiscal 2022.
Kyle J. Loudermilk, President and Chief Executive Officer of GSE, stated “The company had a very solid first quarter for booking new orders. We expect new orders to be around $19 million for the quarter, which puts the company is a strong position, especially when compared to levels achieved in 2022. The figure does include the renewing of a sizable, long-term agreement with two US Government engineering laboratories, but even backing that out, new order flow was higher on a year over year and sequential basis. While the industry is still a bit tepid in placing orders, these orders in the first quarter put us in a solid position for the remainder of the year. We continue to forge forward and expect to use these orders as a springboard in winning future business. We look forward to sharing more details when we report Q1 results.”
FORWARD LOOKING STATEMENTS
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