/C O R R E C T I O N -- VERSAR, Inc./
12 May 2006 - 1:33AM
PR Newswire (US)
In the news release, "VERSAR, Inc. Announces Improved Third Quarter
Results With Increased Funded Backlog," issued earlier today by
VERSAR, Inc. over PR Newswire, we are advised by a representative
of the company, that the figures in two of the line items in the
financial table were incorrect. Under the "Three Months Ended,
March 31, 2006" column, the figures for "(LOSS) INCOME PER SHARE
FROM CONTINUING OPERATIONS - BASIC" and "(LOSS) INCOME PER SHARE
FROM CONTINUING OPERATIONS - DILUTED," should have been "$0.11"
rather than, "---". Complete, corrected table follows: VERSAR, INC.
AND SUBSIDIARIES Consolidated Statements of Operations (Unaudited -
in thousands, except per share amounts) For the Three-Month For the
Nine-Month Periods Ended Periods Ended March 31, April 1, March 31,
April 1, 2006 2005 2006 2005 GROSS REVENUE $12,974 $14,921 $43,047
$52,835 Purchased services and materials, at cost 4,639 6,098
17,142 26,176 NET SERVICE REVENUE 8,335 8,823 25,905 26,659 Direct
costs of services and overhead 6,912 7,000 20,817 20,724 Selling,
general and administrative expenses 1,437 1,517 4,269 4,571
OPERATING (LOSS) INCOME (14) 306 819 1,364 OTHER EXPENSE Interest
expense 19 23 13 46 Income tax (benefit) (945) --- (945) --- INCOME
FROM CONTINUING OPERATIONS 912 283 1,751 1,318 LOSS FROM
DISCONTINUED OPERATIONS --- (185) (205) (392) NET INCOME $912 $98
$1,546 $926 (LOSS) INCOME PER SHARE FROM CONTINUING OPERATIONS -
BASIC $0.11 $0.04 $0.22 $0.17 (LOSS) INCOME PER SHARE FROM
CONTINUING OPERATIONS - DILUTED $0.11 $0.03 $0.21 $0.16 NET INCOME
PER SHARE - BASIC $0.11 $0.01 $0.19 $0.12 NET INCOME PER SHARE -
DILUTED $0.11 $0.01 $0.19 $0.11 WEIGHTED AVERAGE NUMBER OF SHARES
OUTSTANDING - BASIC 8,071 7,914 8,038 7,879 WEIGHTED AVERAGE NUMBER
OF SHARES OUTSTANDING - DILUTED 8,336 8,302 8,343 8,306 DATASOURCE:
VERSAR, Inc. Web site: http://www.versar.com/
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