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.”
, 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.
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This news 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 fiscal year ended July 1, 2011, as updated from time to time in the Company’s periodic filings. The forward-looking statements are made as of the date hereof and Versar does not undertake to update its forward-looking statements.