Springfield, Virginia - February 16, 2012 - Versar, Inc. (NYSE Amex: VSR) announced it has been awarded a new contract by the United States Army Corps of Engineers for ongoing Personal Services and Support work in Iraq. The contract has a first year ceiling not to exceed $4.5 million and an option year with an additional ceiling of $4.4 million. Total contract capacity is $8.9 million. The initial period of performance runs through February 6, 2013 and actual contract services will be ordered through individual task orders. Versar has been supporting the United States Department of Defense reconstruction efforts in Iraq since 2004.
Jeff Wagonhurst, President of Versar, said, "We are privileged to continue our Personal Services support to the U.S. Army Corps of Engineers in the reconstruction efforts and capacity development in Iraq. The new contract award affirms our commitment to provide the highest quality, secure professional services for this valued client."
VERSAR, INC., headquartered in Springfield, VA, is a publicly traded global project management company providing sustainable value oriented solutions to government and commercial clients in the construction management, environmental services, munitions response, and telecommunication and technology integration market areas.
VERSAR, INC., headquartered in Springfield, VA, is a…
Springfield, VA - February 13, 2012 - Versar, Inc. (NYSE Amex: VSR) today announced its financial results for the fiscal second quarter and six months ended December 30, 2011.
Revenue for the second quarter of fiscal year 2012 was $31.3 million, a decrease of 25% compared to revenue of $41.9 million reported in the same quarter of fiscal year 2011. The decrease in revenue is primarily attributable to non-recurring equipment purchase revenue of approximately $8.4 million, from our Tooele project in Utah, recorded in the second quarter of 2011, which was previously announced.
The Company achieved gross profit in the current quarter of $3.4 million, or 11% of sales, compared to gross profit of $3.5 million, or 8.4% of sales in the second quarter last year, resulting from increased margins primarily in our international operations. Operating income declined slightly to $1.3 million in the second quarter versus $1.5 million in the second quarter of last year. Versar recorded net income of $0.8 million or $0.09 per basic and diluted share for the second quarter of fiscal year 2012, compared to net income of $0.9 million, or $0.10 per basic and diluted share, in the second quarter of fiscal 2011.
For…
Springfield, VA – November 10, 2011 – Versar, Inc. (NYSE Amex: VSR) today announced its financial results for the fiscal first quarter ended September 30, 2011.
Revenue for the first quarter of fiscal year 2012 was $33.3 million, an increase of 14% compared to revenue of $29.3 million reported in same quarter of fiscal year 2011. The Company achieved gross profit of $3.7 million, a 28% increase compared to gross profit of $2.9 million in the first quarter of last year, with gross margins of 11% in the first quarter as compared to 10% in the same quarter last year. Operating income improved 44% to $1.3 million in the first quarter versus $0.9 million in the first quarter of last year. Versar recorded net income of $0.8 million or $0.09 per basic and diluted share for the first quarter of fiscal year 2012, compared to net income of $0.5 million, or $0.06 per basic and diluted share, in the first quarter of fiscal 2011.
Increased revenue and profitability in the first quarter of 2012 can be primarily attributed to additional revenue from the Company’s Title II Construction Management projects and from the Tooele Chemical Demilitarization project in its…
Springfield, VA – Tuesday , November 1, 2011 – Versar, Inc. (NYSE Amex: VSR) will hold a conference call at 2:00 PM Eastern Time on Thursday, November 10, 2011 to discuss the Company’s operational performance and financial results for the first quarter of its fiscal year 2012, ended September 30, 2011. Versar will release its 1Q FY 2012 Form 10-Q on November 9, 2011 and 1Q financial results press release before the market opens on November 10, 2011.
The dial in number for the US and Canada is toll free, 877-407-8033. The international dial in number is 201-689-8033. Participants should call in a few minutes before 2:00 PM Eastern Time. For those unable to attend the conference call, replays will be available on Versar’s website, www.versar.com
VERSAR, INC., headquartered in Springfield, VA, is a publicly held global project management company providing sustainable solutions to government and commercial clients in construction
management, environmental services, munitions response, telecommunications and energy. Versar operates a number of web sites, including the corporate Web sites, www.versar.com,
www.homelanddefense.com, www.geomet.com; www.viap.com; www.dtaps.com; www.adventenv.com, and www.ppsgb.com.
This press release contains forward-looking information. The forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities…
