Volt Information Sciences News Release (01/15/15)
Volt Information Sciences Inc. reported a net loss of $19.0 million for fiscal year 2014, compared with $30.9 million in 2013. Operating results from continuing operations improved $12.1 million in 2014, to income of $4.8 million, from a loss of $7.3 million in 2013. In the fiscal 2014 fourth quarter, staffing service revenue was down 18.2% from $492.8 million to $403.1 million. Net income totaled $2.1 million in the fiscal fourth quarter, up 31.3% from net income of $1.6 million in the year-ago quarter.
“Consistent with our primary goal of a more highly focused and profitable Volt, we have now exited our software businesses. We are now concentrating on our core staffing and services businesses that have similar profitability, risks, and returns on capital,” said Ron Kochman, Volt’s president and chief executive officer.
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