The Company reported funded backlog of $89.1 million at June 30, 2010. Backlog reflects new additions, less revenue earned and any adjustments for contract cancellations. Our funded backlog decreased in the quarter by approximately $10.0 million.C. Thomas McMillen, HOMS Chairman and CEO, stated, “We are pleased to report a record year for HOMS. This was accomplished by strong revenue growth and expense restraint.” McMillen continued, “We were able to capitalize on Recovery Act funding for several projects within our geographic footprint. We believe 2011 will be another year during which we can benefit from the additional release of this type of funding.”
Homeland Security Capital Corporation Announces Fourth Quarter Results
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