SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
Current Report
Pursuant to Section 13 or 15 (d) of
The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): April 26, 2004
GSE Systems, Inc.
(Exact name of registrant as specified in its charter)
Delaware 0-26494 52-1868008
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(State or other jurisdiction (Commission (I.R.S. employer
of incorporation) file number) identification no.)
9189 Red Branch Road, Columbia, MD 21045
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(Address of principal executive offices) (zip code)
Registrant's telephone number, including area code: (410) 772-3500
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(Former name or former address, if changed since last report)
Item 5. Other Events
http://www.gses.com
AT THE COMPANY
John V. Moran
Chief Executive Officer
410-772-3589
FOR IMMEDIATE RELEASE
GSE Systems Announces Multiple Contract Awards
Columbia, Maryland April 26, 2004 - GSE Systems, Inc. (GSE) (AMEX:GVP), a
leading global provider of real-time simulation systems for the energy, process,
manufacturing and government sectors, announced the award of several recent
simulation projects. The total estimated value of the contracts exceeds $3
million.
The company received contracts for modifications, enhancements and technology
licenses for simulators in Ukraine and Bulgaria purchased through Battelle's
Pacific Northwest National Laboratory. In addition, the company received several
simulator modification contracts for advanced models and services in the US,
Europe and Asia. Several customers also renewed their annual simulator
maintenance contracts, which provide simulator services and annual updates to
the latest simulation technology. Finally, the company received a contract to
upgrade a fossil plant simulator initially installed in the 1980s. These
projects are expected to be implemented over the course of the next year.
GSE Systems, Inc. is a real-time simulation company with three decades of
experience, over 250 applications, and 100 customers in more than 25 countries.
GSE's software, hardware and integrated solutions leverage proven technologies
to deliver real-world business advantages to the energy, process, manufacturing
and government sectors worldwide .GSE Systems is headquartered in Columbia,
Maryland with offices in St. Mary's, GA. and global locations in Sweden, Japan
and China. Information about GSE Systems is available via the Internet at
http://www.gses.com.
The forward-looking statements contained herein reflect GSE's management's
current views with respect to future events and financial performance. These
forward-looking statements are subject to certain risks and uncertainties that
could cause actual results to differ materially from those in the
forward-looking statements, all of which are difficult to predict and many of
which are beyond the control of GSE, including, but not limited to the risks and
uncertainties detailed in GSE's periodic reports and registration statements
filed with the Securities and Exchange Commission
If any one or more of these expectations and assumptions proves incorrect,
actual results will likely differ materially from those contemplated by the
forward-looking statements. Even if all of the foregoing assumptions and
expectations prove correct, actual results may still differ materially from
those expressed in the forward-looking statements as a result of factors we may
not anticipate or that may be beyond our control. While we cannot assess the
future impact that any of these differences could have on our business,
financial condition, results of operations and cash flows or the market price of
shares of our common stock, the differences could be significant. We do not
undertake to update any forward-looking statements made by us.