Versar Inc.

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52-week low / high: $3.49 / $15.35
Shares Outstanding:  8.78 million
Market Capitalization:  $76.60 million

Versar, Inc. provides infrastructure management (facilities management, construction and environmental compliance) and homeland security services to the United States government and private sector worldwide. Clients include: the Department of State, Defense Logistics Agency, Army Corps of Engineers, the General Services Administration, as well as various agencies within the Commonwealth of Virginia.

The Department of Defense (DoD) uses Versar to support its facilities in the areas of detection, management, prevention, and clean-up of toxic or hazardous waste. Versar currently performs support activities at Vandenberg AFB, Beale AFB and Buckley AFB in the United States, and Ramstein and Moron AFB in Europe.

Versar also operates GEOMET Technologies, which manufactures chemical protective suits and associated equipment to United States and Australian military services. This division also provides testing services of chemical protective equipment and clothing, evaluation of detection equipment and analysis of environmental samples, as well as site remediation and environmental cleanup support among other services.

Net income for fiscal year 2006 was $1,347,000, or $0.16 per share, compared to a net income of $202,000, or $0.02 per share, in fiscal year 2005. The company’s funded contract backlog was up 55% over 2005 to $48 million; however, 2006 revenues were $60.9 million, down 10% from 2005. The decrease was largely due to late passage of the Iraq supplemental appropriation and associated contract-funding delays by the DoD, due to the Iraq war.