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US - Volt Staffing Revenue Up 3%

April 03 2012

Volt Information Sciences Inc. (OTCBB: VISI.PK) reported staffing services revenue rose to $455 million in its fiscal first quarter ended Jan. 29, up 2.9 percent from the same period in the previous fiscal year.

“The first quarter 2012 staffing services segment revenue increase is primarily from customer care solutions services and to a lesser extent from employees on assignment,” said Volt President and CEO Steven Shaw. “On average, approximately 31,500 U.S. staffing employees were on assignment in the quarter, compared to approximately 32,300 in the first quarter of 2011, although at higher average billing rates resulting in slightly higher revenue.”

Financial information being released by Volt is limited as the company conducts a review of its financial statements for the fiscal years 2005 to 2008 to correct errors in accounting principles and methodologies. Full financial information for those and later years will not be released until accounting adjustments have been finalized, independent accountants complete their audit procedures and amended reports are filed.

Volt, based in New York, ranks as the 11th largest U.S. staffing firm.

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