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US – Volt Staffing Revenue Rises

July 09 2012

Volt Information Sciences Inc. (OTCBB: VISI.PK) reported staffing services revenue rose 4.6 percent to approximately $501 million in its fiscal second quarter ended April 29, 2012, from the same period in the previous fiscal year. However, the revenue numbers are only preliminary at this time.

Volt had approximately 31,000 U.S. staffing employees on assignment in the quarter ended April 29 compared with approximately 30,900 in the same period last year.

The company is continuing with a review of its financial statements for fiscal years 2005 to 2008. The review will likely result in changes to the company’s statements for those years because of errors in the application of certain accounting principles and methodologies. Volt has released only limited financial information since the review began, and it does not expect to release results for fiscal years through 2012 until the review is complete and adjustments have been made.

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