Versar, Inc. (NYSE Amex:VSR) announced it was awarded two task order contract extensions totaling $7.5 million by the Gulf Region District of the U.S. Army Corps of Engineers for its personal services contract supporting the reconstruction efforts in Iraq. These task order extensions will allow Versar to provide six months of additional support to the US Army in the fields of Engineering, Project Management, Logistics, and Construction Management. All work under these extensions will be completed by October 5, 2010, contributing approximately $1.2 million in revenue each month during the six month period.
Jeff Wagonhurst, President of Versar, Inc., said, "Versar is gratified by the Army's continued confidence in the value of our professional services. We pledge to exceed their expectations as we have since our original contract execution in 2006. It is our privilege to support the Coalition forces and the Iraqi people in building a better future.”
VERSAR, INC., headquartered in Springfield, VA, is a publicly held international professional services firm supporting government and industry in national defense/homeland defense programs, environmental health and safety and infrastructure revitalization. VERSAR operates a number of web sites, including the corporate Web sites, http://www.versar.com, http://www.homelanddefense.com, http://www.geomet.com; http://www.viap.com; http://www.dtaps.com; www.ppsgb.com; www.adventenv.com.
This press release contains forward-looking information. The forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be significantly impacted by certain risks and uncertainties described herein and in Versar’s Annual Report on Form 10-K filed with the Securities and Exchange Commission for the year ended June 26, 2009. The forward-looking statements are made as of the date hereof and Versar does not undertake to update its forward-looking statements.