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.