Volt Information Sciences Inc.: Fourth Quarter and Fiscal 2019 Results
For all of fiscal year 2019, net revenue totaled $997.1 million, down 4.0% from $1.0 billion in fiscal year 2018. The company reported a net loss of $15.2 million, compared with a net loss of $32.7 million for fiscal year 2018. Over the same period, North American staffing revenue totaled $830.9 million, down from $860.5 million, and international staffing revenue totaled $114.4 million, from $117.4 million.
Linda Perneau, president and chief executive officer, said, “We exited or de-emphasized less profitable businesses, while placing a greater focus on growing business with attractive margin profiles. We did this while implementing significant cost savings, organizational changes, process changes, and updates to our systems. The positive results of these changes are just beginning to manifest in the form of improved financials.”