Free Post Earnings Research Report: Volt Information Sciences’ Net Income Rocketed 1,300%

LONDON, UK / ACCESSWIRE / January 22, 2018 / Active-Investors.com has just released a free earnings report on Volt Information Sciences, Inc. (NYSE: VISI) ("Volt"). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=VISI. Volt reported its fourth quarter fiscal 2017 operating and financial results on January 17, 2018. The staffing and information technology (IT) infrastructure services provider's earnings beat market expectations. Register today and get access to over 1,000 Free Research Reports by joining our site below:

www.active-investors.com/registration-sg

Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Volt Information Sciences most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

www.active-investors.com/registration-sg/?symbol=VISI

Earnings Highlights and Summary

For its fiscal 2017 fourth quarter ended October 29, 2017, Volt's total revenue was $288.5 million, down 15.5% compared to $341.6 million in Q4 FY16. On a same-store basis, the Company's net revenue declined 11.3% y-o-y excluding net revenue contributed from businesses sold or exited during the past year and the effect of currency fluctuations. The Company's revenue number fell short of analysts' estimates of $300 million.

During Q4 FY17, Volt's gross margin percentage of 16.5%, was down 14 basis points on a y-o-y basis. The Company's selling, administrative, and other operating costs in the reported quarter dropped 1.0% to $50.1 million from $50.6 million in the year earlier corresponding quarter. This decrease was primarily due to ongoing cost reductions throughout the business as well as the sale of Maintech.

For Q4 FY17, Volt's Income from continuing operations of $39.8 million, increased $37.0 million from $2.8 million in Q4 FY16, primarily due to the gain on the sale of the Company's quality assurance testing division of the Technology Outsourcing Services and Solutions segment for $48.0 million.

Volt's net income for Q4 FY17 totaled $38.08 million, or $1.82 per share, compared to $2.79 million, or $0.13 per share, in Q4 FY16. Analysts' were expecting the Company to post a quarterly loss of $0.01 per share.

Volt Information Sciences' Segment Results

During Q4 FY17, the North American Staffing segment's revenue, which provides a broad spectrum of contingent staffing, direct placement, recruitment process outsourcing, and other employment services totaled $224.2 million, down 12.1% compared to revenue of $255.2 million in Q4 FY16. The decline was primarily driven by lower demand from customers in both professional and commercial job families as well as customers experiencing decreased demand for their services and changes in their staffing models.

For Q4 FY17, the International Staffing segment's revenue, which includes the Company's contingent staffing, direct placement, and managed service programs businesses in Europe and Asia, was $30.2 million, reflecting a drop of 4.9% compared to $31.7 million from Q4 FY16, primarily as a result of softening economic demand in the United Kingdom.

The Technology Outsourcing Services and Solutions segment's revenue, which provides quality assurance, business intelligence and analytics, and customer service support for companies in a variety of industries, came in at $26.4 million in Q4 FY17, down 13.7% compared to $30.5 million in Q4 FY16, primarily due to lower volume in quality assurance testing services, which was sold at the end of the reported quarter.

The Corporate and Other segment's revenue, which now primarily consists of the Company's North American managed service business, was $9.7 million in the reported quarter, down 65.0% compared to $27.6 million in Q4 FY16. The y-o-y decline was primarily driven by the impact from the sale of Maintech which occurred early in Q2 FY17. On a same-store basis, excluding businesses sold or exited of $17.6 million, Corporate and Other revenue decreased 3.6% on a y-o-y basis

Liquidity

As of January 05, 2018, Volt had $87.4 million of global liquidity compared to $94.8 million at October 29, 2017. The Company reduced its debt balance by $50.0 million from the prior quarter, ending the year with a total debt balance of $50.0 million.

Stock Performance Snapshot

January 19, 2018 - At Friday's closing bell, Volt Information Sciences' stock advanced 4.44%, ending the trading session at $4.70.

Volume traded for the day: 71.39 thousand shares.

Stock performance in the last month – up 17.50%; previous three-month period – up 100.00%; past six-month period – up 22.08%; and year-to-date – up 23.68%

After last Friday's close, Volt Information Sciences' market cap was at $96.26 million.

The stock is part of the Services sector, categorized under the Staffing & Outsourcing Services industry. This sector was up 0.7% at the end of the session.

Active-Investors:

Active-Investors (A-I) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. A-I has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.

A-I has not been compensated; directly or indirectly; for producing or publishing this document.

PRESS RELEASE PROCEDURES:

The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third-party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email info@active-investors.com. Rohit Tuli, a CFA® charterholder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable-effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by A-I. A-I is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.

NO WARRANTY

A-I, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. A-I, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, A-I, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.

NOT AN OFFERING

This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither A-I nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://active-investors.com/legal-disclaimer/.

CONTACT

For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:

Email: info@active-investors.com

Phone number: 73 29 92 6381

Office Address: 6, Jalan Kia Peng, Kuala Lumpur, 50450 Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur, Malaysia

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

SOURCE: Active-Investors