Volt Information Sciences Inc. Announces Management Changes
Jun 25 15
Volt Information Sciences Inc. announced that Ron Kochman has resigned, effective immediately, as President and Chief Executive Officer to pursue other opportunities. The Board of Directors has appointed Michael Dean, Volt’s current Chairman, as Interim President and CEO. Mr. Dean will continue to serve as Chairman. Mr. Dean joined Volt’s board as chairman in May 2015. He was most recently the CEO and on the board of Nature’s Sunshine Products Inc., where he revitalized the global health and wellness company and returned it to growth. Prior to that, Mr. Dean was CEO of Mediaur Technologies Inc. Before that, Mr. Dean was Executive Vice President of ABC Cable Networks Group. Before Disney, Mr. Dean was a strategy consultant with Bain & Company.
Volt Information Sciences Inc. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended May 3, 2015; Reports Impairment Charges for the Second Quarter Ended May 3, 2015
Jun 10 15
Volt Information Sciences Inc. announced unaudited consolidated earnings results for the second quarter and six months ended May 3, 2015. For the quarter, the company reported net revenue of $385,189,000 compared to $436,080,000 a year ago. Operating loss was $4,094,000 compared to operating income of $4,874,000 a year ago. Net loss was $6,913,000 compared to $3,495,000 a year ago. Loss from continuing operations was $6,913,000 against income of $1,381,000 a year ago. The decrease in revenue was primarily the result of decreased Staffing Services revenues of $44.4 million, or 10.9%, to $362.3 million primarily driven by lower demand for both technical and to a lesser degree non-technical administrative and light industrial skill-set.
For the six months, net revenue was $768,255,000 compared to $857,708,000 a year ago. Operating loss was $11,416,000 compared to $6,351,000 a year ago. Loss from continuing operations was $15,713,000 against $11,301,000 a year ago. Net loss was $20,232,000 against $20,569,000 a year ago. Net cash used in operating activities was $504,000 against net cash from operating activities of $29,523,000 a year ago. The decrease in revenue was primarily the result of decreased Staffing Services revenues of $75.9 million, or 9.5% to $723.1 million primarily driven by lower demand for both technical and to a lesser degree non-technical administrative and light industrial skill-sets.
For the quarter, the company reported impairment charges of $5,374,000.
Volt Information Sciences Inc. to Report Q2, 2015 Results on Jun 10, 2015
Jun 8 15
Volt Information Sciences Inc. announced that they will report Q2, 2015 results Pre-Market on Jun 10, 2015