SPRINGFIELD, Va, Feb 13, 2013 /PRNewswire/ -- Versar, Inc. (NYSE MKT: VSR) announced that the United States Army Corps of Engineers, Middle East District (USACE-MED) has exercised an option year for Versar's ongoing Personal Services and Support contract in Iraq. The option year has a ceiling not to exceed a value of $4.4 million and the period of performance runs through February 6, 2014. Versar has been supporting the United States Department of Defense reconstruction efforts in Iraq since 2004. This option year adds to the original contract awarded in February 2012.
Jeff Wagonhurst, President of Versar, said, "Versar is honored to continue to provide our support to USACE and to those deployed in Iraq. The continuation of this contract is a testament to the value of the personal services and assistance we provide in Iraq and an example of our worldwide reach and capabilities. The extension of this contract also means Versar is providing personal services to USACE in both contingency theaters – Iraq and Afghanistan. We look forward to providing continued high value services to USACE in the coming year."
VERSAR, INC., headquartered in Springfield, Virginia, 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 professional services market areas.
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 June 29, 2012, 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.
John Nesbett or Jennifer Belodeau
Institutional Marketing Services (IMS)
SOURCE Versar, Inc.