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Staffing sales fell 3.9% at Volt Information Sciences Inc. (NYSE: VOL) in the company's fiscal third quarter ended July 27.
Volt reported third-quarter staffing revenue of $499.0 million, down from $519.1 million in the third quarter of the previous year.
The company said sales in its technical placement division fell by $11.5 million, while its administrative and industrial staffing division revenue fell by $8.6 million.
Volt provides staffing, telecommunications services, telephone directory publishing and other services. However, the company struck a deal to sell its telephone directory business to the Yellow Page Group for $178 million in cash. The deal is expected to close this month.
Total company third-quarter revenue was relatively flat, rising 0.1% to $590.6 million.
Volt's total third-quarter net income fell 56.6% to $4.0 million from $9.1 million in the same period in the previous year.
Volt Information Sciences Inc. (NYSE: VOL)
For the third quarter ended July 27, 2008, compared with the same period in the previous year.
Total revenue: $590.6 million, +0.1%
Net income: $4.0 million, -56.6%