Furthermore, the forward-looking statementscontained in this news release are made as at the date of this news releaseand the Company does not undertake any obligation to update publicly or torevise any of the included forward-looking statements, whether as a result ofnew information, future events or otherwise, except as may be required byapplicable securities laws.THE TORONTO STOCK EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPTRESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.SOURCEDiaz Resources Ltd.Robert W Lamond, Chairman – or – Donald K. Clark, Chief Operating Officer,DIAZ RESOURCES LTD., Telephone: (403) 269-9889, Fax: (403) 269-9890, Website:, Email: , TSX: DZR. SPRINGFIELD, Va.–(Business Wire)–Versar, Inc. (NYSE Amex: VSR) today announced third quarter financial resultsfor the period ended March 27, 2009.
Gross revenue for the third quarter offiscal year 2009 was $31,851,000, a 10% increase from the third quarter offiscal year 2008 gross revenue of $28,874,000. This is the highest quarterlyrevenue in Versar`s forty year history. Net income for the third quarter offiscal year 2009 was $1,125,000, or $0.12 per share compared to the same periodlast year of $913,000, or $0.10 per share. The 23% improvement in net incomeresulted from revenue growth and better profit margins.
The revenue increase wasa result of growth in our reconstruction support efforts in Iraq andAfghanistan, increased U.S. construction management business and laboratorytesting work in our National Security business segment. For the nine months of fiscal year 2009, gross revenue was $84,816,000, adecrease of $2,295,000, or 3%, compared to $87,111,000 gross revenue in the ninemonths of the previous fiscal year. Net income for the nine months of fiscalyear 2009 was $2,214,000, or $0.24 per share compared to the same period in theprevious year of $2,675,000, or $0.29 per share Dr. Ted Prociv, President and CEO of Versar said, “Our third quarter performancehas considerably improved. In fact, it is the strongest quarterly revenue inVersar`s history. It bodes well for a strong fourth quarter and final yearresults.
We continue to be profitable, debt free, and maintain a large backlogof work.” Dr. Prociv continued, “We continue to accelerate our large management projectsin the United States, Iraq and Afghanistan. We also recognize the increasingdemand for our professional services and the national security testing weprovide. Our key indicators are positive and the prospects of new contracts areboth compelling and favorable. Our future continues to look promising.” VERSAR, INC., headquartered in Springfield, VA, is a publicly held internationalprofessional services firm supporting government and industry in nationaldefense/homeland defense programs, environmental health and safety andinfrastructure revitalization. VERSAR operates a number of web sites, includingthe corporate Web sites, http://, http://,and http://; http:// and http:// This press release contains forward-looking information.
The forward-lookingstatements are made pursuant to the safe harbor provisions of the PrivateSecurities Litigation Reform Act of 1995. Forward-looking statements may besignificantly impacted by certain risks and uncertainties described herein andin Versar`s Annual Report on Form 10-K filed with the Securities and ExchangeCommission for the year ended June 27, 2008. The forward-looking statements aremade as of the date hereof and Versar does not undertake to update itsforward-looking statements.VERSAR, INC. Kaplan, 732-747-0702Email: Copyright Business Wire 2009. ATLANTA, May 11 /PRNewswire-FirstCall/ — Cox Radio, Inc.