Volt Information Sciences Inc. (NYSE MKT: VISI) reported net revenue fell and net loss widened in its fiscal third quarter ended Aug. 2.

The firm reported a net loss of $4.1 million. The most-recent quarter included restructuring costs of $400,000 and impairment charges of $580,000.

Revenue by segment

Volt’s strategic initiative includes divesting non-core assets, and during the third quarter sold Volt Directories S.A. Ltd. and Tainol S.A., its Uruguayan publishing and printing business. Subsequent to the end of the quarter the company also completed the sale of certain assets of Volt Telecommunications Group.

In June, Volt President and CEO Ron Kochman resigned and the board appointed Chairman Michael Dean as interim president and CEO. In March, James Whitney Mayhew stepped down as CFO and the company named former Reader’s Digest exec Paul Tomkins to the post. And following its annual meeting of shareholders held in May, Volt revamped its board composition and committee assignments per an agreement with shareholder group Glacier Peak Capital LLC and its affiliates.

Quote

“We are actively pursuing advanced technologies and improving business processes to support our core staffing business,” said Michael Dean, chairman, interim president and CEO. “Our management team is energized, excited and working with a sense of urgency to address the challenges that face us and to capitalize on the opportunities that lie ahead. With the recent changes in Volt’s leadership, we are taking a fresh look at how we operate and by empowering our employees to make positive changes, I believe these actions will lead to a significant improvement in our financial performance in the quarters and years ahead.”