Iraq Fuels Versar’s Record Results
Shares of Versar Inc. (Amex: VSR) jumped up 20 percent in early trading today after it announced record revenues and profits for the third quarter of fiscal 2007. The company’s stock rose $1.06 to $6.30 per share on volume of 337,100. If this activity holds, Versar will eclipse its current 52-week high of $5.50 per share. Revenue for the third quarter of fiscal 2007 was $28.3 million, representing a 118 percent increase versus the $13 million reported in the third quarter of fiscal 2006. Versar attributed most of the increase to the company’s additional revenue associated with its personnel services…