Exhibit 99.1


Volt Information Sciences Reports Fiscal 2019 Second Quarter Financial Results

NEW YORK, NY, June 5, 2019 – 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 2019 second quarter and six months ended April 28, 2019.
 
Key highlights include:
 

Second quarter total Company net revenue decreased 4.2% year-over-year, or 3.3% on a same-store basis (excluding currency fluctuations and a business exited)
 

Second quarter gross margin percentage improved 20 basis points, the third consecutive quarter of year-over-year margin growth
 

Second quarter total Company net loss was $5.2 million, an improvement of 32.8% when compared to a year ago primarily driven by the increase in gross margin, as well as a 9.3% reduction in selling, administrative and other operating costs
 

Second quarter total Company Adjusted EBITDA improved 58.9% when compared to a year ago
 

For the six months ended April 28, 2019, total Company net revenue was $505.5 million, a decrease of 2.1%, year-over-year, or 1.4% on a same-store basis; Net loss for the six-month period was $8.4 million, an improvement of 54.4%, year-over-year
 

Implemented further organizational enhancements to reduce costs and improve operational efficiencies and service delivery in the North American Staffing segment; commenced decommissioning of the Company’s Customer Care Solutions business unit
 
Commenting on Volt’s performance, Linda Perneau, President and CEO, said, “Our performance in the second quarter reflects the ongoing execution of the operating strategy designed to significantly enhance our sales engine, improve margins and generate profitable growth. Despite revenue headwinds primarily from fluctuations in customer demand, the implementation of our sales and delivery strategy helped to substantially mitigate the top-line impact, while operational efficiencies and expense reductions bolstered Volt’s profitability metrics. We are well on our way on our transformation journey. I am grateful to our employees around the globe, all of whom are focused on driving top-line revenue, improving productivity and returning value to our shareholders.”

Fiscal 2019 Second Quarter Results
Total net revenue for the fiscal 2019 second quarter was $252.1 million, compared to $263.2 million in the second quarter of fiscal 2018. On a same-store basis, net revenue decreased 3.3% year-over-year excluding net revenue contributed from a business exited during the past year and the effect of currency fluctuations.



The following information was filed by Volt Information Sciences, Inc. (VISI) on Wednesday, June 5, 2019 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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