Volt Information Sciences Inc. (NYSE: VOL) said it reached agreements with lenders to extend its deadline for filing financial statements for its fiscal year ended Nov. 1, 2009.

The company now has until Dec. 31, 2010, to file financial statements with the U.S. Securities and Exchange Commission. Lenders had previously agreed to give the company until May 10.

"The restatement process has taken longer to complete than we had originally anticipated," CFO Jack Egan said. "As part of our re-examination process, we are reviewing our financial statements to determine whether any additional adjustments are necessary beyond those already identified in our computer systems segment."

In January, Volt reported that it was reviewing whether some revenue and costs in its computer systems business segment were recorded during the proper time periods. In addition, the company said it identified some accounting errors in revenue recognition for some multi-year telephone systems contracts. Volt reported it planned to restate its financials for its fiscal years ended Oct. 29, 2007, and Nov. 2, 2008.