Versar Inc. (NYSEMKT: VSR) soared in Wednesday’s session following a new contract with the U.S. Air Force. Specifically, the company announced that its wholly-owned subsidiary, J.M. Waller Associates, was competitively awarded the Architect-Engineer 2013 Environmental Services (A-E13ES) multiple-award contract with a combined contract ceiling totaling $500 million for continued work on behalf of Air Force Civil Engineer Center (AFCEC).
The contract provides for the performance of Title I and Title II architectural-engineering (A-E) and other A-E services, primarily for multidisciplinary environmental projects, including planning and programming, environmental restoration, quality (environmental compliance and pollution prevention) and environmental conservation services.
Also, this contract is the follow-on to the former AFCEC 4PA-E08 contract and is intended to provide support for AFCEC’s worldwide environmental program. The contract vehicle has a five-year period of performance, during which additional work may be awarded/performed; work may also be performed for two additional years following the base period.
Tony Otten, CEO of Versar, commented:
We are very pleased to assist AFCEC in addressing such important environmental issues at many of its facilities worldwide. This contract will enable the Company to continue to serve a long-standing customer and accomplish several critical tasks on its behalf.
Excluding Wednesday’s move, Versar has underperformed the broad markets, with the stock down over 60% year to date. Over the past 52 weeks, the stock is down nearly 70%.
Shares of Versar were last seen up 40% at $1.61, with a consensus analyst price target of $5.50 and a 52-week trading range of $1.01 to $4.38.
Are You Still Paying With a Debit Card?
The average American spends $17,274 on debit cards a year, and it’s a HUGE mistake. First, debit cards don’t have the same fraud protections as credit cards. Once your money is gone, it’s gone. But more importantly you can actually get something back from this spending every time you swipe.
Issuers are handing out wild bonuses right now. With some you can earn up to 5% back on every purchase. That’s like getting a 5% discount on everything you buy!
Our top pick is kind of hard to imagine. Not only does it pay up to 5% back, it also includes a $200 cash back reward in the first six months, a 0% intro APR, and…. $0 annual fee. It’s quite literally free money for any one that uses a card regularly. Click here to learn more!
Flywheel Publishing has partnered with CardRatings to provide coverage of credit card products. Flywheel Publishing and CardRatings may receive a commission from card issuers.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.
You can follow him investing $500,000 of his own money on our top AI stocks for free.