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Volt Information Sciences Inc. (NYSE: VOL) reported a net loss of $13.2 million for the first quarter of its fiscal year ended Jan. 27, 2008. The company posted net income of $727,000 in the first quarter of the previous year.
Volt provides staffing, telecommunications services, and telephone directory publishing. The company said its telecommunications division took a charge of $12.2 million because it may not be paid for work performed under an installation contract.
Net staffing revenue at the company rose 3.2% to $481.8 million from $466.9 million. The company posted a $15.9 million increase in its technical placement division that was offset by a $1.0 million decrease in its administrative and industrial division.
Revenue for the company as a whole rose 7.6% to $590.5 million in the quarter from $548.8 million in the first quarter of the previous year.
Volt Information Sciences Inc. (NYSE: VOL)
For the first quarter ended Jan. 27, 2008, compared with the same period in the previous year.
Revenue: $590.5 million, +7.6%
Net loss: $13.2 million vs. net income of $727,000