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World – Volt staffing boosts half-year revenue

09 July 2012

US-based Volt Information Sciences (VISI:PKL), the provider of information technology staffing, outsourcing and telecoms/software services with offices in Europe, said on Friday that its staffing services segment had approximately US$501 million of revenue in Q2 2012, a +4.5% increase from  around US$479 million a year ago.

Staffing services, which make up most of the Group’s revenue, in the first half of the year reached around US$963 million of revenue, up from US$929 million at the same time in 2011. The firm said that the rise for the second quarter roughly includes US$9 million, primarily from increased associate vendor employees on assignment, and about US$13 million from the recognition of previously deferred revenue, net of current period deferrals.

The boost in revenue for the six-month period includes around US$20 million, mainly from increased associate vendor employees on assignment.

Volt is a global provider of technology, information services and staffing services. Staffing services cover sectors such as IT, engineering, administrative, and industrial workforce requirements of its customers, for professional search and temporary/contingent personnel as well as managed services programmes. The firm has offices in Europe across the UK, Belgium, France and Germany.

On Friday, the company’s share price was down -2.4% at US$6.82, down -29.3% from a year ago and +25.1% above the 52-week low of US$5.45 set on 21 December 2011. The firm has a market capitalisation of US$142.15 million. 

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