Reading the recent coverage of staffing companies in Value Line, 3 things stand out.
First is the upward trajectory of these companies' earnings... often without a corresponding jump in their share prices.
Secondly is that contract and temporary labor are the stronger areas as customer companies continue to staff only what they need with flexability to pare if things get worse in the economy.
Finally, technology and other fields that Volt emphasizes appear to be the strongest industries for the staffing companies.
As healthy as Volt's operating environment is, there's still the question of their accounting issues. It's always been my contention that once they are resolved, investors will likely buy the elimination of uncertainty surrounding Volt...
The endless work on the re-statements are accompanied by an SEC investigation. The re-statements have repeatedly been characterized as "timing" issues rather than "magnitude" issues.
My "educated guess" is that it may have been an employee(s) who were skimming and covering their tracks with inter-period adjustments. That's the only scenario I can conceive of that is consistent with everything I've heard thus far.