Volt Information Sciences News Release (03/14/14)

Volt Information Sciences Inc. reported net revenues of $437.1 million in the first quarter of fiscal 2014, down 16% from $520.2 million in the year-ago quarter, and a net loss of $17.1 million, unchanged from the first quarter of fiscal 2013. Net revenue for the company’s staffing services segment totaled $392.3 million, down 17.3% from $474.4 million on a year-to-year basis.

Ron Kochman, Volt’s president and chief executive officer, noted lower demand levels at some large clients resulted in lower staffing segment operating income and explained that the company reorganized its traditional staffing services business to improve efficiency and profitability.

Bloomberg (03/14/14) Katherine Peralta

Consumer confidence unexpectedly fell in March to a four-month low. The Thomson Reuters and University of Michigan preliminary index of sentiment declined to 79.9 this month from 81.6 in February. A Bloomberg survey of economists had forecast an increase to 82. Although fewer job cuts and higher home prices helped prop up consumer sentiment somewhat, consumers also indicated that bigger payroll gains that lead to faster wage growth will be needed for them to boost spending.