Versar (VSR) Reports Q3 Loss of $0.34/Share
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Versar, Inc. Announces Third Quarter Fiscal 2016 Results
May 16, 2016 8:15 AM EDTSPRINGFIELD, Va., May 16, 2016 /PRNewswire/ --Â Versar, Inc. (NYSE MKT: VSR) today announced financial results for the third quarter and nine months ended April 1, 2016.Â
Financial Results
Revenue for the third quarter of fiscal year 2016 decreased 8% to $36.5 million, compared to revenues of $39.8 million during the third quarter of last fiscal year. Gross margin decreased to 4%, compared to 8% in the same prior year quarter, due to a variety of factors including some lower margin work, costs due to project design changes, and order delays for our PPS subsidiary. This includes a one-time charge of $0.5... More
