Versar, Inc. Announces Two Option Year Awards Totaling $12M with U.S. Army Reserve 88th Regional Support Command

SPRINGFIELD, VA / ACCESSWIRE / March 29, 2017 / Versar, Inc. (NYSE MKT: VSR) today announced that it has received two option year awards, both in support of the U.S. Army Reserve 88th Regional Support Command (RSC), Fort McCoy, Wisconsin. The two awards have an aggregate value of $12,001,282. The 88th RSC has a 19-state area of responsibility with nearly 365 facilities for which it is responsible.

Versar was awarded Option Year 1 for its Operations, Plans, Engineering, and Environmental Technical Program Support contract. This award is valued at $7,383,915 for the period April 16, 2017 through April 15, 2018. In this work, Versar on-site personnel support the Directorate of Public Works (DPW) in its vital mission of providing the 88th RSC with utility support, general facility management guidance, engineering, environmental support, preventative maintenance, repair and maintenance management, energy management, operational cost analysis, space utilization, requirements planning, and forecasting service requirements. Versar professionals have successfully performed this work for ten years. The contract award was originally announced via press release on August 30, 2016, with a base year and four option years valued at approximately $37 million.

Versar was also awarded Option Year 2, for its Area Facility Operations Specialist (AFOS) Support Services contract valued at $4,617,367 for the period April 1, 2017 through March 31, 2018. Under this contract, Versar personnel assist the DPW with all real property ownership issues and provide comprehensive base operations support within the same 19 state area. Moreover, they ensure that all command buildings, grounds and other facilities are properly monitored and maintained to meet all applicable functional, appearance, safety, security, and environmental standards. Versar professionals have successfully performed this work for nine years. This contract award consists of a base year and four option years valued at approximately $23 million.

Tony Otten, Chief Executive Officer of Versar, said, “These two option year awards are testaments to the excellent support our Professional Services Group provides to the 88th RSC, a highly valued client. Versar will continue to provide the 88th RSC with exceptional staff and service.”

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, and professional services market areas.

VERSAR operates the following websites: www.versar.com and www.versarpps.com.

Find out more about VERSAR at:

Twitter: https://twitter.com/VersarInc
Facebook: https://www.facebook.com/VersarInc
LinkedIn: http://www.linkedin.com/company/38251

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, 2016, 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.

Contact:

Karin Weber
M&A, Investor Relations Manager
Versar, Inc.
(703) 642-6706
kweber@versar.com

Robert Ferri
Robert Ferri Partners
(415) 575-1589
robert.ferri@robertferri.com

SOURCE: Versar, Inc.

ReleaseID: 458389