Exhibit 99.1



Volt Information Sciences Reports Fiscal 2017 Fourth Quarter and Full Year
Financial Results

NEW YORK, NY, January 12, 2018 – Volt Information Sciences, Inc. (“Volt” or “the Company”) (NYSE-AMERICAN: VISI),
an international provider of staffing services and managed service programs, today reported results for its fiscal 2017 fourth quarter and full year ended October 29, 2017. Key highlights include:
·
Fourth quarter net revenue of $288.5 million, down 15.5% year-over-year; on a same-store basis, net revenue declined 11.3% year-over-year excluding net revenue contributed from businesses sold or exited during the past year and the effect of foreign exchange rate fluctuations; Full-year net revenue of $1,194.4 million, down 10.5% year-over-year and down 6.6% year-over-year on a same-store basis
·
Fourth quarter gross margin percentage of 16.5%, down 14 basis points year-over-year; Full year gross margin percentage of 15.7% increased 52 basis points year-over-year
·
Completed the sale of the quality assurance business of the Technology Outsourcing Services and Solutions segment, a non-core business, which resulted in net cash proceeds of $66.8 million
·
Received $5 million in net cash as part of early payment of note and a settlement agreement with NewNet Communications Technologies, LLC
·
Reduced debt balance by $50.0 million from the prior quarter, ending the year with a total debt balance of $50.0 million

Commenting on Volt’s performance, Michael Dean, President and CEO, said, “Volt’s full year results showed continued evidence of improvement in several key financial and operational metrics. I am pleased our focus on higher margin business resulted in expanding our gross margins by 52 basis points year-over-year to 15.7%. In addition, our ongoing focus on achieving operational efficiencies and cost containment has continued to deliver lower selling, administrative and other operating costs.”

Mr. Dean continued, “The turnaround strategy that we have executed over the past two years has successfully helped us address many of Volt’s operational challenges and we have a strong foundation from which we continue to build. During this time, we have dramatically simplified our operating structure through the sale of non-core assets, which has strengthened our balance sheet and liquidity position. At the same time, we have also been successful in streamlining our cost structure and gross margins continue to improve. While much has been accomplished, we now must ensure our efforts and investments convert to topline growth, as well as continue to explore a broad range of opportunities to enhance shareholder value. I look forward to overcoming Volt’s remaining challenges and emerging as a stronger company.”

Fiscal 2017 Fourth Quarter Results
Total revenue for the fiscal 2017 fourth quarter was $288.5 million, down $53.1 million, or 15.5%, compared to $341.6 million in the fourth quarter of fiscal 2016. On a same-store basis, net revenue declined 11.3% year-over-year excluding net revenue contributed from businesses sold or exited during the past year and the effect of currency fluctuations.
 

The following information was filed by Volt Information Sciences, Inc. (VISI) on Friday, January 12, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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