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<P style="font-size: 14pt" align="center"><B>UNITED STATES<BR>
SECURITIES AND
EXCHANGE COMMISSION<BR>
<FONT style="font-size: 12pt">Washington, D.C. 20549
</FONT></B>

<P style="font-size: 18pt" align="center"><B>FORM 8-K</B>

<P style="font-size: 12pt" align="center"><B>CURRENT REPORT<BR>
Pursuant to
Section 13 or 15(d) of the Securities Exchange Act of 1934</B>

<P style="font-size: 10pt" align="center"><B>Date of Report (Date of earliest
event reported): September 15, 2008</B>

<P style="font-size: 24pt" align="center"><B>GTSI Corp.</B><BR> <FONT
style="font-size: 10pt">(Exact name of registrant as specified in its charter)
</FONT>
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  <TD width="32%">&nbsp;</TD>
  <TD width="1%">&nbsp;</TD>
  <TD width="33%">&nbsp;</TD>
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  <TD width="32%">&nbsp;</TD>
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 <TR valign="bottom">
  <TD style="border-bottom: #000000 1px solid"><B>Delaware</B></TD>
  <TD>&nbsp;</TD>
  <TD style="border-bottom: #000000 1px solid"><B>0-19394</B></TD>
  <TD>&nbsp;</TD>
  <TD style="border-bottom: #000000 1px solid"><B>54-1248422</B></TD>
 </TR>
 <TR valign="top">
  <TD>(State or other Jurisdiction of Incorporation)</TD>
  <TD>&nbsp;</TD>
  <TD>(Commission File Number)</TD>
  <TD>&nbsp;</TD>
  <TD>(IRS Employer Identification No.)</TD>
 </TR>

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cellpadding="0" width="100%" border="0">

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  <TD width="49%">&nbsp;</TD>
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  <TD style="border-bottom: #000000 1px solid"><B>3901 Stonecroft Boulevard<BR>Chantilly, Virginia</B></TD>
  <TD>&nbsp;</TD>
  <TD style="border-bottom: #000000 1px solid"><B>20151-1010</B></TD>
 </TR>
 <TR valign="top">
  <TD>(Address of Principal Executive Offices)</TD>
  <TD>&nbsp;</TD>
  <TD>(Zip Code)</TD>
 </TR>

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<P style="font-size: 10pt" align="center">Registrant&#8217;s telephone number,
including area code: <B>(703) 502-2000</B>
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  <TD style="border-bottom: #000000 1px solid" nowrap><B>&nbsp;</B></TD>
 </TR>
 <TR>
  <TD nowrap>(Former name or former address if changed since last report.)</TD>
 </TR>

</TABLE>


<P style="font-size: 10pt" align="left">Check the appropriate box below if the
Form 8-K filing is intended to simultaneously satisfy the filing obligation of
the registrant under any of the following provisions:

<P style="font-size: 10pt" align="left"><FONT face="Wingdings">o</FONT> Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)<BR>
<BR>
<FONT face="Wingdings">o</FONT> Soliciting material pursuant
to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)<BR>
<BR>
<FONT
face="Wingdings">o</FONT> Pre-commencement communications pursuant to Rule
14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))<BR>
<BR>
<FONT
face="Wingdings">o</FONT> Pre-commencement communications pursuant to Rule
13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))<BR>


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valign="top">
  <TD nowrap align="left" width="3%"><B>ITEM 4.02</B></TD>
  <TD width="1%">&nbsp;</TD>
  <TD><B> NON-RELIANCE ON PREVIOUSLY ISSUED FINANCIAL STATEMENTS OR A
RELATED AUDIT REPORT OR COMPLETED INTERIM REVIEW.</B></TD>
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<P style="font-size: 10pt" align="left">(a)&nbsp;On September&nbsp;15, 2008,
the Audit Committee of the Board of Directors of GTSI Corp. (the
&#8220;Company&#8221;), after discussion with the Company&#8217;s management,
concluded that the financial statements of the Company included in its
quarterly report on Form 10-Q for the quarter ended June&nbsp;30, 2008, should
no longer be relied upon because of an error in the unaudited consolidated
statements of operations for the three and six months ended June&nbsp;30, 2008.

<P style="font-size: 10pt" align="left">On September&nbsp;19, 2008, the Company
issued a press release announcing that it would restate its financial
statements included in its Form 10-Q for the quarter ended June&nbsp;30, 2008
and concurrently with the filing of this Current Report on Form 8-K the Company
included such restated financial statements in an amendment to its Form 10-Q
for the quarter ended June&nbsp;30, 2008.

<P style="font-size: 10pt" align="left">The Company concluded that previously
reported financial statement information required restatement to correct an
error in the accounting for the cost of sales and the related impact on
selling, general and administrative costs to record additional incentive
compensation costs due to the change in loss before income taxes associated
with the error. In May&nbsp;2008, the Company launched a system upgrade to its
Enterprise Management System (&#8220;GEMS&#8221;). During the upgrade process,
many GEMS reports were altered, including the cost of sales data collected in
the logic reporting database. Because of a series of change management control
failures during the GEMS upgrade process, the validation process of the cost of
sales feed to the logic reporting database was incomplete; resulting in lost
data and an overstatement of cost of sales for the three months ended
June&nbsp;30, 2008. For the three and six months ended June&nbsp;30, 2008, the
deferred cost of sales on the balance sheet was understated and cost of sales
in the statement of operations was overstated by $2.1&nbsp;million. Incentive
compensation costs increased by $0.5&nbsp;million based on the revised loss
before income taxes. An additional immaterial service revenue entry of
$0.1&nbsp;million was also recorded as part of the restatement to correct an
error for the three months ended June&nbsp;30, 2008.

<P style="font-size: 10pt" align="left">The Audit Committee and management of
the Company have discussed the matters referenced above, including the
restatement of the Company&#8217;s unaudited consolidated financial statements
included in the Company&#8217;s Form 10-Q for the quarter ended June&nbsp;30,
2008, with PricewaterhouseCoopers LLP, the Company&#8217;s independent
registered public accounting firm.

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<P style="display: none; font-size: 10pt" align="center">1
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<P style="font-size: 10pt" align="left"><B>SIGNATURES</B>

<P style="font-size: 10pt; text-indent: 4%" align="left">Pursuant to the
requirements of the Securities Exchange Act of 1934, the Registrant has duly
caused this report to be signed on its behalf by the undersigned thereunto duly
authorized.

<P style="font-size: 10pt; margin-left: 45%" align="left"><B>GTSI Corp.</B>

<P style="font-size: 10pt; margin-left: 45%" align="left">By:<U> /s/ Peter
Whitfield&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><BR>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Peter Whitfield<BR>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interim Chief Financial Officer<BR>


<P style="font-size: 10pt" align="left">Date: September&nbsp;19, 2008

<P style="font-size: 10pt" align="center">&nbsp;

<P style="display: none; font-size: 10pt" align="center">3
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{"company-data": {"conformed-name": "GTSI CORP", "cik": "0000850483", "assigned-sic": "5045", "irs-number": "541248422", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-19394", "film-number": "081080774"}, "business-address": {"street1": "3901 STONECROFT BLVD", "city": "CHANTILLY", "state": "VA", "zip": "20151-0808", "phone": "703-502-2000"}, "mail-address": {"street1": "3901 STONECROFT BLVD", "city": "CHANTILLY", "state": "VA", "zip": "20151-1010"}}
Filed by Bowne Pure Compliance
UNITED STATES
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): September 15, 2008
GTSI Corp.
(Exact name of registrant as specified in its charter)
Delaware
0-19394
54-1248422
(State or other Jurisdiction of Incorporation)
(Commission File Number)
(IRS Employer Identification No.)
3901 Stonecroft Boulevard
Chantilly, Virginia
20151-1010
(Address of Principal Executive Offices)
(Zip Code)
Registrant's telephone number,
including area code:
(703) 502-2000
(Former name or former address if changed since last report.)
Check the appropriate box below if the
Form 8-K filing is intended to simultaneously satisfy the filing obligation of
the registrant under any of the following provisions:
o
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
o
Soliciting material pursuant
to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o
Pre-commencement communications pursuant to Rule
14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o
Pre-commencement communications pursuant to Rule
13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
ITEM 4.02
NON-RELIANCE ON PREVIOUSLY ISSUED FINANCIAL STATEMENTS OR A
RELATED AUDIT REPORT OR COMPLETED INTERIM REVIEW.
(a) On September 15, 2008,
the Audit Committee of the Board of Directors of GTSI Corp. (the
"Company"), after discussion with the Company's management,
concluded that the financial statements of the Company included in its
quarterly report on Form 10-Q for the quarter ended June 30, 2008, should
no longer be relied upon because of an error in the unaudited consolidated
statements of operations for the three and six months ended June 30, 2008.
On September 19, 2008, the Company
issued a press release announcing that it would restate its financial
statements included in its Form 10-Q for the quarter ended June 30, 2008
and concurrently with the filing of this Current Report on Form 8-K the Company
included such restated financial statements in an amendment to its Form 10-Q
for the quarter ended June 30, 2008.
The Company concluded that previously
reported financial statement information required restatement to correct an
error in the accounting for the cost of sales and the related impact on
selling, general and administrative costs to record additional incentive
compensation costs due to the change in loss before income taxes associated
with the error. In May 2008, the Company launched a system upgrade to its
Enterprise Management System ("GEMS"). During the upgrade process,
many GEMS reports were altered, including the cost of sales data collected in
the logic reporting database. Because of a series of change management control
failures during the GEMS upgrade process, the validation process of the cost of
sales feed to the logic reporting database was incomplete; resulting in lost
data and an overstatement of cost of sales for the three months ended
June 30, 2008. For the three and six months ended June 30, 2008, the
deferred cost of sales on the balance sheet was understated and cost of sales
in the statement of operations was overstated by $2.1 million. Incentive
compensation costs increased by $0.5 million based on the revised loss
before income taxes. An additional immaterial service revenue entry of
$0.1 million was also recorded as part of the restatement to correct an
error for the three months ended June 30, 2008.
The Audit Committee and management of
the Company have discussed the matters referenced above, including the
restatement of the Company's unaudited consolidated financial statements
included in the Company's Form 10-Q for the quarter ended June 30,
2008, with PricewaterhouseCoopers LLP, the Company's independent
registered public accounting firm.
SIGNATURES
Pursuant to the
requirements of the Securities Exchange Act of 1934, the Registrant has duly
caused this report to be signed on its behalf by the undersigned thereunto duly
authorized.
GTSI Corp.
By:
/s/ Peter
Whitfield
Peter Whitfield
Interim Chief Financial Officer
Date: September 19, 2008