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View All NewsVolt revenue rises nearly 8% in Q4
Volt Information Sciences Inc. (NYSEAMERICAN: VOLT) revenue rose 7.9% year over year in its fiscal fourth quarter ended Oct. 31. Revenue rose 7.7% on an adjusted basis taking into account the effects of currencies and other factors.
| (US$ thousands) | Q4 2021 | Q4 2020 | % change | % change on adjusted basis |
| Net revenue | $227,809 | $211,073 | 7.9% | 7.7% |
| Gross margin | $38,161 | $34,229 | 11.5% | |
| Gross margin percentage | 16.8% | 16.2% | ||
| Net income/loss | $1,326 | ($12,517) | nm |
North American staffing revenue at the Orange, California-headquartered staffing firm rose 6.9% year over year amid business wins among retail and mid-market clients along with expansion of business within existing clients.
Volt reported international staffing revenue rose amid expansion of business with existing clients in France and Belgium as well as increased direct-hire business in the UK and Singapore.
The growth in North American MSP revenue was primarily driven by increased demand in Volt’s payroll services business.
Revenue by segment
| (US$ thousands) | Q4 2021 | Q4 2020 | % change | % change on adjusted basis |
| North American staffing | $190,875 | $178,603 | 6.9% | 6.9% |
| International staffing | $26,814 | $23,033 | 16.4% | 13.9% |
| North American MSP | $10,021 | $9,365 | 7.0% | 7.0% |
Full-year results
| (US$ thousands) | FY 2021 | FY 2020 | % change |
| Net revenue | $885,393 | $822,055 | 7.7% |
| Gross margin | $143,522 | $127,851 | 12.3% |
| Gross margin percentage | 16.2% | 15.6% | |
| Net income | $1,374 | $33,587 | -95.9% |
Adjusted revenue is defined as revenue excluding businesses exited and the effect of foreign currency translation. Volt has also migrated certain clients from a traditional staffing model to a managed services model, resulting in the company now managing a greater percentage of such clients’ business under its North American MSP. The company includes such delivery model shifts within its adjusted revenue measurement.
Share price and market cap
Shares in Volt were up 2.16% to $3.31 as of 12:32 p.m. Eastern time; they were 51.13% above their 52-week low, according to FT.com. The company has a market cap of $71.5 million.