Versar, Inc. is a Delaware corporation incorporated in 1969. We are a global project management company providing sustainable value oriented solutions to government and commercial clients. We also provide tailored and secure engineering solutions in extreme environments and offer specialized abilities in staff augmentation, performance based remediation, and hazardous material management.
The Company's three business segments are as follows:
During fiscal year 2012 we delivered solid financial results reflected by an increase in net income and gross profit margins compared to fiscal year 2011. Our balance sheet remains strong and is a reflection of improved liquidity and working capital. We experienced continued effects of the recessionary environment in the government and commercial sectors with resulting uncertainty in funding for projects. However, this has caused an increased focus by our customers on the value of services provided. Both the commercial and government sectors are adjusting their needs to the new economic environment of constrained budgets and staffing, which is compelling greater productivity and value-oriented solutions from service providers.