Versar (VSR) Reports Q1 Loss of $0.04
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Versar, Inc. Announces First Quarter Fiscal 2016 Results
November 5, 2015 8:30 AM ESTSPRINGFIELD, Va., Nov. 5, 2015 /PRNewswire/ -- Versar, Inc. (NYSE MKT: VSR) today announced financial results for the fiscal first quarter ended September 25, 2015.Â
Financial Results
Gross revenue for the first quarter of fiscal year 2016 increased 52% to $44.9 million, compared to revenues of $29.6 million during the first quarter of the last fiscal year. Â Gross margins decreased to 5%, compared to 9% in the same prior year quarter, primarily due to product mix and approximately $200,000 in one-time expenses related to the Company's acquisition of Johnson Controls Security Systems (JCSS), now known as Versar Security Systems... More
