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VERSAR ANNOUNCES ESTIMATED FOURTH QUARTER PROFIT

 SPRINGFIELD, Va., July 21 /PRNewswire/ -- Versar, Inc. (AMEX: VSR), today reported estimated financial results for the fiscal 1993 fourth quarter ended June 30, 1993.
 Ben Rawls, president and CEO of Versar, Inc., said: "We are pleased to report that Versar has had three profitable months in its fourth quarter, a distinct improvement from the first nine months of fiscal year 1993. We estimate gross revenue of $12.3 million, service revenue of $9.3 million and net income of $250,000, or 6 cents per share, for the fourth quarter. This represents an increase of 15 percent in revenue from the third quarter. While these are preliminary results and subject to year-end audit adjustments, we are pleased at the significant improvement we have realized in staff utilization in the fourth quarter and note that the improvements have continued into Versar's new fiscal year beginning July 1, 1993."
 The staff utilization improvements are the result of new contracts signed between mid-March and the end of the fourth quarter. Some specifics include: the signing of expected task orders with the U.S. Army Environmental Center for the Army Total Environmental Program Support (TEPS) contract for $4.5 million, part of which includes air emission studies for 15 Army bases within the United States; a contract with the U.S. Environmental Protection Agency, Office of Pollution Prevention and Toxics; and a subcontract on EPA's Best Demonstrated Advanced Technology program.
 For the private sector, which comprises approximately one-half of Versar's business, the company has made similar improvements in staff utilization which contributed to the profitability now being reported. Specific contracts which contributed to increased utilization include: the Metropolitan Washington Airports Authority's exercise of an option to extend an environmental compliance management program, which increased the contract amount from $3.3 million to $4.3 million; extensive, quick-turnaround environmental assessments throughout the region for a local petroleum jobber; and for Colorado Memory Systems (CMS), a subsidiary of Hewlett Packard, the signing of a facility expansion program in the amount of $1.2 million with Versar's Rocky Mountain region's Colorado office.
 The continued improvement in the level of staff utilization during the first quarter of fiscal 1994 is reinforced by the award of a contract to provide engineering services to the Omaha District of the U.S. Army Corps of Engineers, valued up to $2 million, and additional task orders to provide support to the Federal Energy Regulatory Commission under a subcontract with Stone & Webster, Inc.
 Versar expects audited results for the fiscal year ended June 30, 1993, to be available approximately Sept. 20, 1993.
 Versar, Inc., headquartered in Springfield, is a publicly held, national environmental management company which provides a wide variety of scientific and technical services to help industry and government prevent pollution, manage environmental compliance, and correct environmental and health and safety problems caused by pollution, hazardous materials, and toxic substances.
 -0- 7/21/93
 /CONTACT: Versar Investor Relations, 703-750-3000/
 (VSR)


CO: Versar, Inc. ST: Virginia IN: ENV SU: ERN

TW-MH -- DC045 -- 4140 07/21/93 16:36 EDT
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Publication:PR Newswire
Date:Jul 21, 1993
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