[Satellite TODAY 01-14-11] Integral Systems has hired New York-based advisory firm Stone Key Partners as a financial consultant to help it explore the possible sale of the company or making acquisitions to grow its operations, Integral Systems announced Jan. 13.
    Integral said it hired Stone Key Partners, a specialist in mergers and acquisitions for government and commercial information technology companies, to explore options to maximize Integral’s shareholder value but made no guarantee it will make any strategic move. In a statement, Integral Systems CEO Paul Casner said the company was looking to reduce its operating costs and personnel.
    Integral Systems is coming off an 11 percent increase of in in 2010 to $178 million due to increased sales of satellite command and control systems to commercial and government customers. The company reported an operating loss of about $1.5 million, with EBITDA remaining flat at $8.2 million. The company also was scolded in a U.S. Defense Contracting Audit Agency (DCAA) report in 2010, which determined that Integral had “deficiencies” in managing cost-plus defense contracts.