Exhibit 99.1

 

Volt Information Sciences, Inc. Reports Fourth Quarter and

Fiscal 2021 Financial Results

 

Reports Year-Over-Year Revenue Growth and Positive Net Income for both the 4thQuarter and Fiscal Year 2021

 

Orange, CA, January 12, 2022 -- (BUSINESS WIRE) -- Volt Information Sciences, Inc.

(“Volt” or the “Company”) (NYSE-AMERICAN: VOLT) a global provider of staffing services, today announced financial results for the fourth quarter and fiscal year ended October 31, 2021.

Fourth Quarter 2021 Summary

·Revenue was $227.8 million, a 7.9% increase compared to the fourth quarter of fiscal 2020; Adjusted Revenue* increased 7.7%.
·Gross Margin increased 60 basis points year over year to 16.8%.
·GAAP Operating Income was $2.3 million, a $13.8 million improvement compared to the prior-year quarter; Adjusted Operating Income*, excluding impairment and restructuring charges, was $3.5 million.
·GAAP EPS improved to $0.06 per diluted share, compared to a loss of $0.58 per share in the fourth quarter of fiscal 2020; Adjusted EPS* was $0.11 per diluted share.
·Adjusted EBITDA* was $6.2 million, an increase of $0.3 million year over year.

Fiscal 2021 Summary

·Revenue was $885.4 million, a 7.7% increase compared to fiscal 2020; Adjusted Revenue* increased 7.1%.
·Gross Margin improved 60 basis points year over year to 16.2%.
·GAAP Operating Income was $4.8 million, a $34.2M improvement compared to the prior fiscal year; Adjusted operating income, excluding impairment and restructuring charges, was $8.1 million in fiscal 2021 compared to an operating loss of $9.8 million in fiscal 2020.
·GAAP EPS improved to $0.06 per diluted share, compared to a loss of $1.56 per share in fiscal 2020; Adjusted EPS* was $0.21 per diluted share.
·Adjusted EBITDA was $17.8 million compared to ($0.1) million in the prior year.

 

* Adjusted Revenue, Adjusted Operating Income (Loss), Adjusted EPS and Adjusted EBITDA are Non-GAAP measures described and defined below.

“Our performance in the fourth quarter and fiscal 2021 reflects the successful and continued execution of our strategic initiatives. Achieving year-over-year revenue growth each quarter and for the full year, combined with expanding our gross margin and reducing SG&A expense, we reported meaningful increases in both net income and Adjusted EBITDA,“ said Linda Perneau, President and Chief Executive Officer.

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Ms. Perneau added, “Although we continue to experience COVID-related business disruptions, I applaud every Volt colleague across the globe who is forging ahead with the necessary agility to address the ebbs and flows of client demand and the broader labor market. The work we have done over the last two years, including the implementation of new technologies, has provided us with a strong footing going forward. We remain confident that we will continue to see an improvement in full-year profitability in fiscal 2022.”

 

Fourth Quarter Results

North American Staffing revenue was $190.9 million, as compared to $178.6 million in the prior-year quarter. Revenue for this segment increased 6.9 percent year over year. The increase is primarily attributable to business wins in a combination of retail and mid-market clients, combined with the expansion of business within existing clients.

International Staffing revenue was $26.8 million, compared to $23.0 million in the prior-year quarter. Adjusted Revenue increased 13.9 percent year over year due to the expansion of business with existing clients in France and Belgium, as well as increased direct hire business in the U.K. and Singapore.

North American MSP revenue was $10.0 million, compared to $9.4 million in the prior-year quarter. The increase is primarily attributable to increased demand in its payroll service business.

Gross margin was 16.8 percent of revenue, a 60 basis-point increase from the prior-year quarter. The increase is primarily attributable to improved margins and higher direct hire revenue in our North American and International Staffing segments.

SG&A expense was $34.7 million or 15.2% of revenue, a $4.0 million increase from the prior-year quarter. The increase was primarily attributable to incentives on higher sales volume, as well as higher labor and medical expenses.

Adjusted EBITDA, which is a Non-GAAP measure, was $6.2 million for the fourth quarter of fiscal 2021, compared to $5.9 million in the prior-year quarter.

Fiscal 2021 Results

North American Staffing revenue was $738.8 million as compared to $689.1 million for fiscal 2020. Adjusted Revenue for this segment increased 7.5 percent. The increase is primarily attributable to business wins in a combination of retail and mid-market clients, combined with the expansion of business within existing clients. Operating Income for the year was $33.0 million compared to $14.3 million for fiscal 2020. Adjusted Operating Income for this segment, excluding impairment and restructuring charges, which is a non-GAAP measure, was $33.0 million compared to $17.1 million in the prior year.

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International Staffing revenue was $107.0 million compared to $95.3 million. Adjusted Revenue in the International Staffing segment in fiscal 2021 increased 4.9 percent. Operating Income for the year was $4.1 million compared to $1.4 million from fiscal 2020. Adjusted Operating Income, excluding impairment and restructuring charges, for this segment was $4.3 million, compared to $1.7 million in fiscal 2020.

North American MSP revenue increased 3.7 percent from the prior year, to $39.3 million. Adjusted Revenue for the segment increased 3.5 percent year over year. Operating Income for the year was $2.1 million compared to $3.1 million in the prior year. Adjusted Operating Income excluding impairment and restructuring charges, for this segment was $2.2 million compared to $3.1 million in fiscal 2020.

Gross margin increased by 60 basis points to 16.2 percent of revenue. The increase is primarily attributable to improved margins and an increase in direct hire revenue in our North American and International Staffing segments.

SG&A expense was $135.4 million, a decrease of $2.2 million, or 1.6%, from $137.7 million in the prior year. The decrease is primarily attributable to lower facility related costs due to consolidation of the Company’s real estate footprint, as well as lower software and travel expenses.

Adjusted EBITDA was $17.8 million, compared to a loss of $0.1 million in the prior year.

2021 Earnings Conference Call and Webcast

The Company will conduct a conference call on January 12, 2022, at 5:00 p.m. Eastern Time, to review the financial results for the fourth quarter and fiscal year ended October 31, 2021. A presentation supplementing the call can be accessed through the investor relations portion of the website. Investors interested in participating on the live call can dial 1-877-407-9039 within the U.S. or 1-201-689-8470 from abroad. The conference call, which may include forward-looking statements, is also being webcast and will be available via the investor relations section of the Company’s website at www.volt.com. A replay of the webcast will be archived on Volt’s investor relations website for 90 days.

Forward-Looking Statements

This press release contains forward-looking statements that are subject to a number of known and unknown risks. Such risks include, among others, general economic, competitive and other business conditions (including the potential impact of the strain of coronavirus known as COVID-19 and related government actions on our operations as well as the operations of our customers), the degree and timing of customer utilization and renewal rate for contracts with the Company, and the degree of success of business improvement initiatives that could cause actual results, performance and achievements to differ materially from those described or implied in the forward-looking statements. Information concerning these and other factors that could cause actual results to differ materially from those in the forward-looking statements are contained in the “Risk Factors” and other sections of the Company reports filed with the Securities and Exchange Commission (“SEC”). You are cautioned not to place undue reliance on such statements and to consult our SEC filings for additional risks and uncertainties that may apply to our business and the ownership of our securities. Our forward-looking statements are presented as of the date made, and we disclaim any duty to update such statements unless required by law to do so.

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Note Regarding the Use of Non-GAAP Financial Measures

The Company has provided certain Non-GAAP financial information, including Adjusted Revenue, Adjusted Operating Income (Loss), Adjusted EPS and Adjusted EBITDA, which include adjustments to our GAAP financial results. These measures are not in accordance with, or an alternative for, generally accepted accounting principles (“GAAP”) and may be different from Non-GAAP measures reported by other companies.

The Company believes that the presentation of Non-GAAP measures, including on a constant currency basis and eliminating (a) the impact of businesses sold or exited, (b) the impact from the migration of certain clients from a traditional staffing model to a managed service model and (c) special items provides useful information to management and investors regarding certain financial and business trends relating to its financial condition and results of operations because they permit evaluation of the results of the Company without the effect of currency fluctuations, special items or the impact of businesses sold or exited that management believes make it more difficult to understand and evaluate the Company’s results of operations. Special items include impairments, restructuring and severance as well as certain income or expenses which the Company does not consider indicative of the current and future period performance and are more fully disclosed in the tables.

Adjusted Revenue is defined as revenue excluding businesses exited and the effect of foreign currency translation. The Company has also migrated certain clients from a traditional staffing model to a managed service model, resulting in the Company now managing a greater percentage of such clients’ business under its North American MSP.  This shift provides increased opportunity for the Company with the relevant clients. However, due to the structure of MSP arrangements, revenue is recognized on a net basis, thereby reducing revenues on a comparative period basis. Beginning in the first quarter of 2020, the Company includes such delivery model shifts within the Adjusted Revenue measurement, as it provides a more comparable basis for evaluating performance results from period to period and reflects the method used by management to evaluate performance. A reconciliation is shown in the tables at the end of this press release. 

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Adjusted EBITDA is defined as earnings or loss before interest, income taxes, depreciation and amortization (“EBITDA”) adjusted to exclude share-based compensation expense as well as the special items described above.

Adjusted EBITDA is a performance measure rather than a cash flow measure. The Company believes the presentation of Adjusted EBITDA is relevant and useful for investors because it allows investors to view results in a manner similar to the method used by management.

Adjusted EBITDA has limitations as an analytical tool and should not be considered in isolation from, or as a substitute for, analysis of the Company’s results of operations and operating cash flows as reported under GAAP. For example, Adjusted EBITDA does not reflect capital expenditures or contractual commitments; does not reflect changes in, or cash requirements for, the Company’s working capital needs; does not reflect the interest expense, or the cash requirements necessary to service the interest payments, on the Company’s debt; and does not reflect cash required to pay income taxes.

Adjusted Operating Income (Loss) is defined as operating income (loss) excluding businesses exited.

The Company believes the presentation of Adjusted Operating Income (Loss) is relevant and useful for investors because it provides a more comparable basis to evaluate performance results and analyze trends from period to period in a manner similar to the method used by management.

Adjusted EPS is defined as earnings per share excluding impairment and restructuring charges. The Company believes that the presentation of Adjusted EPS is useful for investors since it removes certain special items which the Company does not consider indicative of the current and future period performance.

The Company’s computation of Adjusted Revenue, Adjusted EBITDA, Adjusted Operating Income (Loss) and Adjusted EPS may not be comparable to other similarly titled measures computed by other companies because all companies do not calculate these measures in the same fashion.

About Volt Information Sciences, Inc.

Volt is a global provider of staffing services (traditional time and materials-based as well as project-based). Our staffing services consist of workforce solutions that include providing contingent workers, personnel recruitment services and managed staffing services programs supporting primarily administrative, technical, information technology, light-industrial and engineering positions. Our managed staffing programs involve managing the procurement and on-boarding of contingent workers from multiple providers. Volt services global industries including aerospace, automotive, banking and finance, consumer electronics, information technology, insurance, life sciences, manufacturing, media and entertainment, pharmaceutical, software, telecommunications, transportation and utilities. For more information, visit www.volt.com.

 

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Investor Relations Contacts:
Volt Information Sciences, Inc.
voltinvest@volt.com

Joe Noyons
Three Part Advisors
jnoyons@threepa.com

817-778-8424

 

Financial Tables Follow

 

 

 

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Results of Operations               
(in thousands, except per share data)         
   Three Months Ended  Year Ended
   October 31, 2021  August 1, 2021  November 1, 2020  October 31, 2021  November 1, 2020
                
Net revenue  $227,809   $217,534   $211,073   $885,393   $822,055 
Cost of services   189,648    181,334    176,844    741,871    694,204 
Gross margin   38,161    36,200    34,229    143,522    127,851 
                          
Selling, administrative and other operating costs   34,691    34,039    30,735    135,427    137,666 
Restructuring and severance costs   1,123    489    438    2,839    2,641 
Impairment charges   20    112    14,518    424    16,913 
Operating income (loss)   2,327    1,560    (11,462)   4,832    (29,369)
                          
Interest income (expense), net   (416)   (445)   (431)   (1,768)   (2,219)
Foreign exchange gain (loss), net   39    (34)   (62)   318    (85)
Other income (expense), net   (150)   (152)   (291)   (605)   (869)
Income (loss) before income taxes   1,800    929    (12,246)   2,777    (32,542)
Income tax provision   474    314    271    1,403    1,045 
Net income (loss)  $1,326   $615   $(12,517)  $1,374   $(33,587)
                          
Per share data:                         
Basic:                         
Net income (loss)  $0.06   $0.03   $(0.58)  $0.06   $(1.56)
Weighted average number of shares   21,981    21,968    21,607    21,884    21,507 
                          
Diluted:                         
Net income (loss)  $0.06   $0.03   $(0.58)  $0.06   $(1.56)
Weighted average number of shares   22,811    22,651    21,607    22,609    21,507 
                          
Segment data:                         
                          
Net revenue:                         
North American Staffing  $190,875   $179,381   $178,603   $738,767   $689,095 
International Staffing   26,814    28,256    23,033    106,963    95,308 
North American MSP   10,021    9,790    9,365    39,312    37,915 
Corporate and Other   99    121    135    456    674 
Eliminations   —      (14)   (63)   (105)   (937)
Net revenue  $227,809   $217,534   $211,073   $885,393   $822,055 
                          
Operating income (loss):                         
North American Staffing  $9,064   $8,319   $8,956   $33,029   $14,322 
International Staffing   1,419    1,180    278    4,078    1,399 
North American MSP   706    571    885    2,118    3,074 
Corporate and Other   (8,862)   (8,510)   (21,581)   (34,393)   (48,164)
Operating income (loss)  $2,327   $1,560   $(11,462)  $4,832   $(29,369)
                          
Work days   64    63    64    251    251 

 

 

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Condensed Consolidated Statements of Cash Flows      
(in thousands)      
   Year Ended
   October 31, 2021  November 1, 2020
       
Cash, cash equivalents and restricted cash beginning of the period  $56,433   $38,444 
           
Cash provided by all other operating activities   20,323    964 
Changes in operating assets and liabilities   3,544    17,190 
Net cash provided by operating activities   23,867    18,154 
           
Purchases of property, equipment, and software   (3,112)   (5,268)
Net cash provided by all other investing activities   52    639 
Net cash used in investing activities   (3,060)   (4,629)
           
Net draw-down of borrowings   —      5,000 
Debt issuance costs   (166)   (343)
Net cash used in all other financing activities   (414)   (77)
Net cash provided by (used in) financing activities   (580)   4,580 
           
Effect of exchange rate changes on cash, cash equivalents and restricted cash   (51)   (116)
           
Net increase in cash, cash equivalents and restricted cash   20,176    17,989 
           
Cash, cash equivalents and restricted cash end of the period  $76,609   $56,433 
           
Cash paid during the period:          
Interest  $1,806   $2,297 
Income taxes  $587   $1,979 
           
Reconciliation of cash, cash equivalents and restricted cash end of the period:          
Current Assets:          
Cash and cash equivalents  $71,373   $38,550 
Restricted cash included in Restricted cash and short term investments   5,236    17,883 
Cash, cash equivalents and restricted cash, at end of period  $76,609   $56,433 

 

 

 

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Condensed Consolidated Balance Sheets      
(in thousands, except share amounts)      
   October 31, 2021  November 1, 2020
ASSETS          
CURRENT ASSETS:          
Cash and cash equivalents  $71,373   $38,550 
Restricted cash and short-term investments   8,729    20,736 
Trade accounts receivable, net of allowances of $137 and $219, respectively   127,211    121,916 
Other current assets   6,229    7,058 
TOTAL CURRENT ASSETS   213,542    188,260 
Property, equipment and software, net   17,482    22,167 
Right of use assets - operating leases   22,496    25,107 
Other assets, excluding current portion   6,584    6,311 
TOTAL ASSETS  $260,104   $241,845 
           
LIABILITIES AND STOCKHOLDERS' EQUITY          
CURRENT LIABILITIES:          
Accrued compensation  $22,629   $18,357 
Accounts payable   36,544    31,221 
Accrued taxes other than income taxes   31,112    12,983 
Accrued insurance and other   16,298    15,908 
Operating lease liabilities   6,775    7,144 
Income taxes payable   956    891 
TOTAL CURRENT LIABILITIES   114,314    86,504 
Accrued payroll taxes and other, excluding current portion   21,832    30,081 
Operating lease liabilities, excluding current portion   33,558    38,232 
Long-term debt   59,307    59,154 
TOTAL LIABILITIES   229,011    213,971 
           
Commitments and contingencies          
           
STOCKHOLDERS' EQUITY          
Preferred stock, par value $1.00; Authorized - 500,000 shares; Issued - none   —      —   
Common stock, par value $0.10; Authorized - 120,000,000 shares; Issued - 23,738,003 shares; Outstanding 22,099,246 and 21,729,400 shares, respectively   2,374    2,374 
Paid-in capital   80,062    79,937 
Accumulated deficit   (32,208)   (29,793)
Accumulated other comprehensive loss   (6,249)   (6,458)
Treasury stock, at cost; 1,638,757 and 2,008,603 shares, respectively   (12,886)   (18,186)
TOTAL STOCKHOLDERS' EQUITY   31,093    27,874 
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY  $260,104   $241,845 

 

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GAAP to Non-GAAP Reconciliations
(in thousands)
       
   Three Months Ended
   October 31, 2021  November 1, 2020
Reconciliation of GAAP net income (loss) to Non-GAAP net income (loss):      
GAAP net income (loss)  $1,326   $(12,517)
  Restructuring and severance costs   1,123(a)   438(c)
  Impairment costs   20(b)   14,518(d)
Non-GAAP net income (loss)  $2,469   $2,439 

 

   Three Months Ended
   October 31, 2021  November 1, 2020
Reconciliation of GAAP net income (loss) to Adjusted EBITDA:          
GAAP net income (loss)  $1,326   $(12,517)
  Restructuring and severance costs   1,123(a)   438(c)
  Impairment costs   20(b)   14,518(d)
  Depreciation and amortization   1,918    2,097 
  Share-based compensation expense   807    303 
  Total other (income) expense, net   527    784 
  Provision for income taxes   474    271 
Adjusted EBITDA  $6,195   $5,894 

 

Special item adjustments consist of the following:
(a) Primarily relates to actions taken by the Company as part of its continued efforts to reduce costs and on-going costs related to facilities exited in fiscal 2020.
 
           
(b) Relates to impairment of capitalized software costs.
           
(c) Relates to actions taken by the Company as part of its continued efforts to reduce costs and to offset COVID-19 related revenue losses.
           
(d) Relates to consolidating and exiting certain leased office locations throughout North America where we could be fully operational and successfully support our clients and business operations remotely.
       

 

 

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GAAP to Non-GAAP Reconciliations
(in thousands)
       
   Year Ended
   October 31, 2021  November 1, 2020
Reconciliation of GAAP net income (loss) to Non-GAAP net income (loss):      
GAAP net income (loss)  $1,374   $(33,587)
  Restructuring and severance costs   2,839(a)   2,641(c)
  Impairment costs   424(b)   16,913(d)
Non-GAAP net income (loss)  $4,637   $(14,033)

 

   Year Ended
   October 31, 2021  November 1, 2020
Reconciliation of GAAP net income (loss) to Adjusted EBITDA:          
GAAP net income (loss)  $1,374   $(33,587)
  Restructuring and severance costs   2,839(a)   2,641(c)
  Impairment costs   424(b)   16,913(d)
  Depreciation and amortization   7,560    7,981 
  Share-based compensation expense   2,101    1,736 
  Total other (income) expense, net   2,055    3,173 
  Provision for income taxes   1,403    1,045 
Adjusted EBITDA  $17,756   $(98)

 

Special item adjustments consist of the following:
(a) Primarily relates to actions taken by the Company as part of its continued efforts to reduce costs and on-going costs related to facilities exited in fiscal 2020.
 
           
(b) Relates to impairment of capitalized software costs.        
           
(c) Primarily relates to the strategic initiative costs to offshore a significant number of identified roles to our staffing operations in India as well as continued efforts to reduce costs and to offset COVID-19 related revenue losses.
           
(d) Primarily relates to consolidating and exiting certain leased office locations throughout North America where we could be fully operational and successfully support our clients and business operations remotely.
       

 

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GAAP to Non-GAAP Reconciliations
(in thousands)
                
   Three Months Ended October 31, 2021  Three Months Ended November 1, 2020
   As Reported  As Reported  FX Impact  MSP Delivery
Model Shift
  Adjusted
Revenue               
North American Staffing  $190,875   $178,603   $—     $—     $178,603 
International Staffing   26,814    23,033    513    —      23,546 
North American MSP   10,021    9,365    —      —      9,365 
Corporate and Other   99    135    —      —      135 
Eliminations   —      (63)   —      —      (63)
Total Revenue  $227,809   $211,073   $513   $—     $211,586 
% change                       7.7%
                          
                          
    Year Ended
October 31, 2021
    Year Ended November 1, 2020
    As Reported    As Reported    FX Impact    MSP Delivery
Model Shift
    Adjusted 
Revenue                         
North American Staffing  $738,767   $689,095   $—     $(2,072)  $687,023 
International Staffing   106,963    95,308    6,643    —      101,951 
North American MSP   39,312    37,915    —      52    37,967 
Corporate and Other   456    674    —      —      674 
Eliminations   (105)   (937)   —      —      (937)
Total Revenue  $885,393   $822,055   $6,643   $(2,020)  $826,678 
% change                       7.1%

 

 

 

 

GAAP to Non-GAAP Reconciliations
(in thousands)
                   
   Three Months Ended October 31, 2021  Three Months Ended November 1, 2020
   As Reported  Business Exited  Adjusted  As Reported  Business Exited  Adjusted
Operating Income (Loss)                              
North American Staffing  $9,064   $—     $9,064   $8,956   $—     $8,956 
International Staffing   1,419    —      1,419    278    —      278 
North American MSP   706    —      706    885    —      885 
Corporate and Other   (8,862)   —      (8,862)   (21,581)   —      (21,581)
Total Operating Income (Loss)  $2,327   $—     $2,327   $(11,462)  $—     $(11,462)
                               
                               
    Year Ended October 31, 2021   Year Ended November 1, 2020
    As Reported    Business Exited    Adjusted    As Reported    Business Exited     Adjusted 
Operating Income (Loss)                              
North American Staffing  $33,029   $—     $33,029   $14,322   $—     $14,322 
International Staffing   4,078    —      4,078    1,399    —      1,399 
North American MSP   2,118    —      2,118    3,074    —      3,074 
Corporate and Other   (34,393)   5    (34,388)   (48,164)   (27)   (48,191)
Total Operating Income (Loss)  $4,832   $5   $4,837   $(29,369)  $(27)  $(29,396)

 

 

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GAAP to Non-GAAP Reconciliations
(in thousands)
                   
   Three Months Ended October 31, 2021  Three Months Ended November 1, 2020
   As Reported  Business Exited  Adjusted  As Reported  Business Exited  Adjusted
Operating Income (Loss)                              
Gross Margin  $38,161   $—     $38,161   $34,229   $—     $34,229 
Selling, administrative and other operating costs   34,691    —      34,691    30,735    —      30,735 
Restructuring and severance costs   1,123    —      1,123    438    —      438 
Impairment charges   20    —      20    14,518    —      14,518 
Total Operating income (Loss)  $2,327   $—     $2,327   $(11,462)  $—     $(11,462)
                               
                               
                               
                               
    Year Ended October 31, 2021   Year Ended November 1, 2020
    As Reported    Business Exited    Adjusted    As Reported    Business Exited    Adjusted 
Operating Income (Loss)                              
Gross Margin  $143,522   $—     $143,522   $127,851   $—     $127,851 
Selling, administrative and other operating costs   135,427    —      135,427    137,666    —      137,666 
Restructuring and severance costs   2,839    (5)   2,834    2,641    27    2,668 
Impairment charges   424    —      424    16,913    —      16,913 
Total Operating Income (Loss)  $4,832   $5   $4,837   $(29,369)  $(27)  $(29,396)

 

 

   13

 

GAAP to Non-GAAP Reconciliations
(in thousands, except per share data)
          
   Three Months Ended October 31, 2021
   As Reported  Restructuring and Impairment Costs  Adjusted
Earnings per Share         
Net income  $1,326   $1,143   $2,469 
                
Per share data:               
Basic:               
Net income  $0.06        $0.11 
Weighted average number of shares   21,981         21,981 
                
Diluted               
Net income  $0.06        $0.11 
Weighted average number of shares   22,811         22,811 
                
    Year Ended October 31, 2021
    As Reported   Restructuring and Impairment Costs   Adjusted 
Earnings per Share               
Net income  $1,374   $3,263   $4,637 
                
Per share data:               
Basic:               
Net income  $0.06        $0.21 
Weighted average number of shares   21,884         21,884 
                
Diluted               
Net income  $0.06        $0.21 
Weighted average number of shares   22,609         22,609 

 

 

   14

 


The following information was filed by Volt Information Sciences, Inc. (VOLT) on Wednesday, January 12, 2022 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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