Winners Circle

[steeledge]

DD on bioterror Amex play VSR
Did the DD as a comparison to CBTE, but it doesn't need the comparison to show VSR's potential. Only concern is lack of cash, but they are solidly profitable and growing their business.

                                VSR      CBTE 
 Shares o/s:                    7.26MM    2.51MM 
 Float:                         6.10MM    1.4 MM 
 Revenue (ttm):                56.80MM    4.8 MM 
 Revenue/share:                 7.7       1.9 
 Revenue (last Q):             14.3MM     1.34MM 
 EPS (6 mo. - fully diluted):   +.09       .035 
 EPS (last Q - fully diluted):  +.05       .005 
 Price/Sales:                    .42      2.1 
 Current ratio:                 2.0       1.9 
 Debt/Equity:                    .21      1.1 
 

Looking ahead, VSR has growing backlog:

SPRINGFIELD, Va., Dec. 11 /PRNewswire-FirstCall/ -- VERSAR, Inc.
(Amex: VSR - News) announced today that the Air Force Center for
Environmental Excellence (AFCEE), in San Antonio, Texas selected
Versar as one of 27 contractors to participate in the $4
billion Worldwide Environmental Restoration and Construction
(WERC) program. The contract is a task order based Indefinite
Delivery/Indefinite Quantity contract in which task orders can be
issued for five years, with a performance period of eight years.
Versar estimates its share of the work will be approximately
$60 million during the term of the WERC program.

SPRINGFIELD, Va., Feb.12 earnings release: Dr. Ted Prociv,
President and CEO of VERSAR said, "The second quarter of fiscal
year 2004 is a continuance of our planned efforts outlined in the
last fiscal year to provide a stable business base with
consistent earnings. With recent contract awards, our contract
backlog continues to increase as we look to translate such
increases in to higher revenue and improved earnings."

SPRINGFIELD, Va., March 2 /PRNewswire-FirstCall/ -- VERSAR, Inc.
(Amex: VSR - News) announced today that its indoor air quality
business has grown substantially in the past year. Led by an
increase in mold investigation and remedial services, the Company
received over $4 million in funded indoor air quality new
orders over the past four months. Ted Prociv, President and CEO
of Versar said, "Our mold and other indoor air quality business
continues to expand with work for major real estate developers,
building and facility managers, municipalities and large public
institutions. The energy efficiency changes to our homes, schools
and business have unintentionally created greater indoor air
quality problems raising serious public health concerns. Versar
is one of the few firms in the U.S. that can provide a full
spectrum of indoor air and mold services, including
characterization analysis, engineering and construction. The
expected growth of these services will help fuel Versar's revenue
and profitability in the coming years."

==================
Versar, Inc.(AMEX: VSR), headquartered in Springfield, VA, is a
publicly held professional services firm supporting government
and industry in national defense/homeland defense programs,
environmental health and safety and infrastructure
revitalization. Versar operates a number of web sites, including
the corporate Web sites:
http://www.versar.com -- company home website
http://www.homelanddefense.com - Homeland Defense Consulting
Services, Secure Architecture and Facilities Engineering
Design/Construction/Operations, Chemical/Biological/Radiological
Threat Support, Emergency Response and On-Site Incident Services,
and Epidemic Outbreak Surveillance Advanced Diagnostics
Laboratory
http://www.versarglobalsolutions.com -- provide engineering,
architectural, environmental, and construction services
http://www.geomet.com - Chem/Bio Laboratories, Personal
Protective equipment, Chemical Demilitarization, Engineering &
Science, Information Technology.
http://www.nbcprotect.com - B2B portal for homeland defense
products and services including Nuclear, Biological, and Chemical
(NBC) protective gear
http://www.dtaps.com - Disposable Toxicological Agent Protective
System (DTAPS) - environmental suits.


Business Segments (from 10Q)

The Company's business segments are Environmental
Services,Architecture/Engineering and Defense Systems. The
Environmental Services segment provides a full range of services
including remediation/corrective actions, site investigations,
remedial designs, and construction, operation and maintenance of
remedial systems. The Architecture/Engineering segment provides
engineering, design and construction management to industrial and
commercial facilities. The Defense Systems segment provides
expertise in developing, testing and providing personal
protection equipment, and detecting and destroying biological and
chemical agents.

==========================
VSR and CBTE/MRKL/ATCO/BLLD/MDDM
>CBTE - CRO/DNA/bioterror/homeland security
>MRKL -bioterror/homeland security
>ATCO - non-lethal weapons
>BLLD -security
>MDDM -non-lethal weapons/homeland security

==>VSR = CRO/bioterror/homeland
security/engineering/IT/Architecture/Waste Management

=========================
article on VSR:

http://enr.construction.com/features/bizlabor/archives/030310d.asp

The WMD expertise is centered in Versar's original Geomet
Technologies Inc. subsidiary. The unit operates a testing
laboratory that, after a major upgrade, is now one of only
three commercial facilities nationwide certified to handle
infectious biological materials up to "biosafety level 3" (BSL
3), says Prociv. "We put $100,000 into it after 9/11," he
says. The only two other labs more rigidly certified are run by
the Army and the Centers for Disease Control. Versar says its
lab orders "have topped $1 million and are expected to
grow."