GSE Systems (GSV) Receives New Contracts iValued at $8M During Q112

GSE Systems, Inc. (AMEX: GVP), announced new contracts valued at approximately $8.0 million involving nuclear, fossil, and process simulation, tutorials, and consulting services. Each of these projects was awarded during the first quarter of 2012.

The $8.0 million in new projects are comprised of:

• $3.8 million in contracts for a nuclear plant simulation upgrade in Ukraine using RELAP5-HD and an advanced VVER-1000 core model, plus other modifications to simulators in Sweden and Japan;
  
  
• $2.5 million of fossil projects, consisting of a major plant simulator upgrade in South Africa, along with other fossil projects in Korea and the United States;
  
  
• $1.1 million in contracts for process simulation applications in the United States and Saudi Arabia, as well as the sale of simulation and computer-based learning modules to a GSE EnVision, Inc. global refining customer; and
  
  
• $0.6 million of awards to GSE TAS Engineering Consultants, the majority coming from key customers in France and the United Kingdom.

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