Dendy Young will lead GTI

17 Jun 2002

Government Technology Services Inc., ending weeks of speculation, appointed M. Dendy Young its new president and chief executive officer on Dec. 20. R.M. Rickenbach, the former chief of publicly held reseller GTSI, resigned Nov. 1 after a string of quarterly losses and revenue declines. Young was founder and president of Falcon Microsystems Inc., the Landover, Md.-based reseller that was GTSI's largest rival. GTSI purchased Falcon in August 1994 for $16.5 million. Young left the company and formed The Exeter Group LLC, an information technology consultancy in Vienna, Va.

GTSI, a Chantilly, Va., company reported sales of $366.1 million for the first three quarters of 1995, a decrease of $74.1 million over the same period in 1994. The company lost $3 million for the first nine months of the year, compared with net income of $6.7 million during the first three quarters of 1994. For the third quarter, GTSI had sales of $175.7 million, a $49.3 million decrease from $225 million for the same period in 1994.