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Volt Information Sciences Provides Update on First Quarter Business Performance

Volt Information Sciences News Release (04/03/12)

Volt Information Sciences Inc. today provided a business update and reported selected unaudited financial information for its fiscal 2012 first quarter ended Jan. 29, 2012. The company noted that, due to a previously announced accounting review, all numbers presented in this release are estimates. Steven Shaw, Volt’s president and chief executive officer, stated, “The staffing services segment, which accounts for a majority of the company’s total revenue, had approximately $455 million of revenue in the fiscal first quarter 2012 compared to approximately $442 million for the same period in 2011. The first quarter 2012 staffing services segment revenue increase is primarily from customer care solutions services and to a lesser extent from employees on assignment. On average, approximately 31,500 U.S. staffing employees were on assignment in the quarter, compared to approximately 32,300 in the first quarter of 2011, although at higher average billing rates resulting in slightly higher revenue.”