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.
New Webinar: CareerBuilder Staffing and Recruiting Talent Brief
As many as 75% of staffing and recruiting professionals say some of their currently existing talent acquisition and human capital management roles will be completely automated using technology over the next 10 years. Find out how this will impact your business.