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Volt staffing sales rise, operating profit falls

June 04 2008

Staffing sales at Volt Information Sciences Inc. (NYSE: VOL) rose 4.6% year-over-year in the company's fiscal second quarter ended April 27, while operating profit in staffing fell 55.1%.

Volt posted second-quarter staffing revenue of $505.7 million, up from $483.3 million in the same period in the previous year.

The company said a $22.6 million increase in its technical placement division boosted sales despite a $200,000 decrease in its administrative and industrial division.

Operating profit in its staffing segment decreased to $6.2 million from $13.9 million a year ago. The company cited a $7.8 million decrease in operating profit in its technical placement segment caused by losses on several consulting projects, lower mark-ups on some large accounts and higher overhead due to start up costs on new projects. Operating profit rose by $100,000 in the company's administrative and technical segment.

Volt provides staffing, telecommunications services and telephone directory publishing. Total second-quarter sales rose 9.3% to $621.0 million from $568.2 million in the second quarter of the previous year. Net income fell 45.9% to $5.8 million from $10.7 million.

Volt Information Sciences Inc. (NYSE: VOL)
For the second quarter ended April 27, 2008, compared with the same period in the previous year.
Total revenue: $621.0 million, +9.3%
Net income: $5.8 million, -45.9%


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