*DJ Volt Information: In Last Month of 4Q, N. Amer Staffing Segment Had Yr-Over-Yr Rev Growth for First Time in Many Years>VISI
*DJ Volt Information: In Last Month of 4Q, N. Amer Staffing Segment Had Yr-Over-Yr Rev Growth for First Time in Many Years>VISI
Press Release: Volt Reports Fiscal 2018 Fourth Quarter and Full Year Results
新聞稿：Volt公佈2018財年第四季度和全年業績
Volt Reports Fiscal 2018 Fourth Quarter and Full Year Results
Volt報告2018財年第四季度和全年業績
Company Shows Improved Results and Expects to Achieve Positive Year-Over-Year Revenue Growth in its North American Staffing Segment during First Quarter of Fiscal 2019
公司業績有所改善，預計2019財年第一季度北美員工部門的收入將實現正增長
NEW YORK--(BUSINESS WIRE)--January 09, 2019--
紐約--(美國商業新聞網)--2019年1月9日--
Volt Information Sciences, Inc. ("Volt" or the "Company") (NYSE-AMERICAN: VISI), an international provider of staffing services and managed service programs, today reported improved results for its fiscal 2018 fourth quarter. In addition, Volt reported its full year ended October 28, 2018 results. Key highlights include:
Volt Information Science，Inc.(以下簡稱“Volt”或“公司”)(紐約證券交易所-美國股票代碼：VISI)是一家提供人事服務和管理服務項目的國際供應商，該公司今天公佈了2018財年第四季度的業績改善。此外，Volt還公佈了截至2018年10月28日的全年業績。主要亮點包括：
-- Fourth quarter total Company net revenue of $264.8 million declined 8.2%;
On a same-store-basis1, net revenue decline of 2.8% improved 780 basis
points compared to a 10.6% year-over-year decline in the fourth quarter
of 2017
-- Total Company gross margin in the fourth quarter of 2018 was 16.6%
slightly improved from 16.5%; On a same-store-basis, gross margin
increased 160 basis points year-over-year
-- Total Company fourth quarter loss from continuing operations of $2.9
million; Adjusted income from continuing operations of $1.5 million, up
from an adjusted loss of $7.0 million in the previous year
-- Total Company fourth quarter adjusted EBITDA of $4.7 million, up from
$0.1 million in the prior period
-- Fourth quarter North American Staffing segment revenues of $220.5
million; net revenue decline of 1.6%, compared to a 12.1% year-over-year
decline in the fourth quarter of 2017
-- Fourth quarter operating income for North American Staffing segment of
$8.2 million increased 48.3% compared to the prior year period
(1) Excludes net revenue contributed from businesses sold or exited during
the past year and the effect of foreign exchange rate fluctuations
--第四季度公司淨收入總額為2.648億美元，下降8.2%；
在同店的基礎上，淨收入下降2.8%，改善了780
與第四季度10.6%的同比降幅相比
2017年
-2018年第四季度公司毛利率總額為16.6%
與16.5%相比略有改善；在同店基礎上，毛利率
同比增長160個基點
--公司第四季度持續運營虧損總額為2.9美元
150萬美元；調整後的持續運營收入為150萬美元，增長
去年調整後的虧損為700萬美元
-公司第四季度調整後的EBITDA總額為470萬美元，高於
上一季度為10萬美元
-第四季度北美員工部門收入為220.5美元
100萬；淨收入下降1.6%，而同比下降12.1%
2017年第四季度下滑
-北美員工部門第四季度營業收入為
820萬美元同比增長48.3%
(1)不包括年內出售或退出的業務所帶來的淨收入
過去一年和匯率波動的影響
Commenting on Volt's fourth quarter results, Linda Perneau, President and CEO, said, "I am pleased with our fourth quarter performance highlighted by improvement in same-store revenue, gross margin expansion and careful expense management, which collectively resulted in significant growth in adjusted income from continuing operations. At the top line, we are beginning to realize the benefits from changes to the North American Staffing segment's organizational structure, designed to strengthen its service delivery, coupled with a much more robust sales engine. In addition, our focus on driving retail growth in commercial and professional job categories, as well as our renewed emphasis on direct hire business, contributed to a 160 basis point year-over-year improvement in gross margin on a same-store basis."
Volt總裁兼首席執行官Linda Perneau在評論Volt第四季度業績時表示：“我對我們第四季度的業績感到高興，我們的第四季度業績突出表現為同店收入的改善、毛利率的擴大和仔細的費用管理，這些共同導致持續運營的調整後收入顯著增長。在收入方面，我們開始意識到北美員工部門組織結構的變化帶來的好處，這些變化旨在加強其服務交付，以及更強勁的銷售引擎。此外，我們專注於推動商業和專業工作類別的零售增長，以及我們重新重視直接僱傭業務，推動同店毛利率同比提高160個基點。“
Ms. Perneau continued, "Our operational performance in the fourth quarter was solid, evidenced by revenue improvements as compared to the prior year in our North American Staffing segment during each month of the quarter. During the last month of fiscal 2018, we generated year-over-year positive revenue growth in our North American Staffing Segment for the first time in many years. So far in the first quarter of fiscal 2019, that trend is continuing. This gives us confidence that this segment will generate positive year-over-year revenue growth during the first quarter of fiscal 2019. As momentum continues to build across the enterprise, I am very proud of the team's execution of our strategy and I anticipate a strong start to the new year."
佩爾諾女士繼續説道：“我們第四季度的經營業績穩健，與去年同期相比，該季度每個月北美員工部門的收入都有所增加。在2018財年的最後一個月，我們北美員工部門的收入多年來首次實現了同比正增長。到目前為止，2019財年第一季度，這一趨勢仍在繼續。這讓我們相信，這一細分市場將在2019財年第一季度產生正的同比收入增長。隨着整個企業的勢頭繼續增強，我對團隊執行我們的戰略感到非常自豪，我預計新的一年會有一個強勁的開端。“
Fiscal 2018 Fourth Quarter Results
2018財年第四季度業績
Total revenue for the fiscal 2018 fourth quarter was $264.8 million, down $23.7 million, or 8.2%, compared to $288.5 million in the fourth quarter of fiscal 2017. On a same-store basis, net revenue declined 2.8% year-over-year excluding net revenue contributed from businesses sold or exited during the past year and the effect of currency fluctuations.
2018財年第四季度總收入為2.648億美元，與2017財年第四季度的2.885億美元相比，下降了2370萬美元，降幅為8.2%。在同店的基礎上，不包括過去一年出售或退出業務的淨收入以及匯率波動的影響，淨收入同比下降2.8%。
Total gross margin in the fourth quarter of fiscal 2018 was 16.6%, an improvement of 160 basis points year-over-year, adjusted for businesses sold. The margin improvement was driven by a favorable California FUTA adjustment, lower worker compensation claims, and a better mix of higher margin business.
2018財年第四季度總毛利率為16.6%，經出售業務調整後同比提高160個基點。利潤率的提高是由加州FUTA有利的調整、較低的工人補償索賠以及更好的高利潤率業務組合推動的。
Selling, administrative and other operating costs in the fourth quarter of fiscal 2018 decreased $8.8 million, or 17.7%, to $41.3 million from $50.1 million in the fourth quarter of fiscal 2017. Excluding businesses sold or exited, selling, administrative and other operating costs for the fourth quarter of fiscal 2018 decreased 13.2% from the prior year period. The decrease was primarily due to ongoing cost reductions throughout the business including lower labor and consulting costs.
2018財年第四季度的銷售、行政和其他運營成本從2017財年第四季度的5,010萬美元降至4,130萬美元，降幅為880萬美元，降幅為17.7%。不包括出售或退出的業務，2018財年第四季度的銷售、行政和其他運營成本比上一年同期下降了13.2%。這一下降主要是由於整個業務的持續成本降低，包括勞動力和諮詢成本的降低。
Net loss from continuing operations was $2.9 million in the fourth quarter of fiscal 2018, compared to net income from continuing operations of $39.8 million in the fourth quarter of fiscal 2017. Net income in the fourth quarter of fiscal 2017 benefitted by a gain on the sale of the Company's quality assurance business totaling $48.0 million. On an adjusted (Non-GAAP) basis, the Company reported positive net income from continuing operations of $1.5 million in the fourth quarter of fiscal 2018, compared to an adjusted net loss from continuing operations of $7.0 million in the fourth quarter of fiscal 2017.
2018財年第四季度持續運營淨虧損為290萬美元，而2017財年第四季度持續運營淨收益為3980萬美元。2017財年第四季度的淨收入受益於出售公司質量保證業務的收益，總額為4800萬美元。在調整(非公認會計原則)的基礎上，該公司報告2018財年第四季度持續運營的淨收益為正150萬美元，而2017財年第四季度調整後的持續運營淨虧損為700萬美元。
Adjusted EBITDA, which is a Non-GAAP measure, was $4.7 million in the fiscal 2018 fourth quarter, compared to Adjusted EBITDA of $0.1 million in the year ago period. Adjusted EBITDA excludes the impact of special items, interest expense, income taxes, depreciation and amortization expense, other income/loss and share-based compensation expense.
調整後的EBITDA是一項非GAAP指標，2018財年第四季度為470萬美元，而去年同期調整後EBITDA為10萬美元。調整後的EBITDA不包括特殊項目、利息支出、所得税、折舊和攤銷費用、其他損益和基於股份的薪酬支出的影響。
For a reconciliation of the GAAP and Non-GAAP financial results, please see the tables at the end of this press release.
關於GAAP和非GAAP財務結果的對賬，請參閲本新聞稿末尾的表格。
Fiscal 2018 Full Year Results
2018財年全年業績
Total revenue for the full year of fiscal 2018 was $1,039.2 million, down $155.2 million, or 13.0%, compared to total revenue of $1,194.4 million for the full year of fiscal 2017. On a same-store basis, net revenue declined 6.9% year-over-year excluding net revenue contributed from businesses sold or exited during the past year and the effect of currency fluctuations.
2018財年全年總收入為10.392億美元，下降1.552億美元，降幅13.0%，而2017財年全年總收入為11.944億美元。在同店的基礎上，不包括過去一年出售或退出業務的淨收入以及匯率波動的影響，淨收入同比下降6.9%。
Net loss from continuing operations was $32.7 million for the full year of fiscal 2018, down from net income of $28.8 million from the full year of fiscal 2017. Net income in fiscal 2017 included $3.1 million of restructuring and severance costs and settlement charges, offset by a $52.0 million gain on the sale of Maintech, a non-core business and the sale of the Company's quality assurance business. Adjusted net loss from continuing operations, which is a Non-GAAP measure, was $26.9 million for the full year of fiscal 2018, compared to an adjusted net loss of $23.3 million from the full fiscal year of 2017. Adjusted EBITDA, which is a Non-GAAP measure, was a loss of $13.1 million for the full year of fiscal 2018, up $12.2 million from a loss of $0.9 million in the year ago period. Adjusted EBITDA excludes the impact of special items, interest expense, income taxes, depreciation and amortization expense, other income/loss and share-based compensation expense.
2018財年全年持續運營淨虧損為3,270萬美元，低於2017財年2,880萬美元的淨收益。2017財年的淨收入包括310萬美元的重組和遣散費以及和解費用，但被出售非核心業務Maintech和出售公司質量保證業務的5200萬美元收益所抵消。2018財年，持續運營的調整後淨虧損為2690萬美元，而2017財年調整後的淨虧損為2330萬美元。調整後的EBITDA是一項非GAAP指標，2018財年全年虧損1310萬美元，比去年同期的虧損90萬美元增加了1220萬美元。調整後的EBITDA不包括特殊項目、利息支出、所得税、折舊和攤銷費用、其他損益和基於股份的薪酬支出的影響。
For a reconciliation of the GAAP and Non-GAAP financial results, please see the tables at the end of this press release.
關於GAAP和非GAAP財務結果的對賬，請參閲本新聞稿末尾的表格。
Conference Call and Webcast
電話會議和網絡廣播
A conference call and simultaneous webcast to discuss the fiscal 2018 fourth quarter and full year financial results will be held today at 4:30 p.m. Eastern Time / 1:30 p.m. Pacific Time. Volt's President and CEO Linda Perneau and CFO Paul Tomkins will host the conference call. Participants may listen in via webcast by visiting the Investor & Governance section of Volt's website at www.volt.com. Please go to the website at least 15 minutes early to register, download and install any necessary audio software. The conference call can also be accessed by dialing 877-407-9039 (201-689-8470 for international callers) and reference the "Volt Information Sciences Earnings Conference Call."
討論2018財年第四季度和全年財務業績的電話會議和同步網絡直播將於今天下午4：30舉行。東部時間/下午1：30太平洋時間。Volt總裁兼首席執行官琳達·佩爾諾和首席財務官保羅·湯姆金斯將主持電話會議。與會者可以通過訪問Volt網站www.volt.com的投資者和治理部分通過網絡直播收聽。請提前至少15分鐘到網站註冊、下載和安裝任何必要的音頻軟件。電話會議還可以通過撥打877-407-9039(國際呼叫者為201-689-8470)並參考“Volt信息科學收益電話會議”收聽。
Following the call, an audio replay will be available beginning Wednesday January 9, 2019 at 7:30 p.m. Eastern Time through Wednesday, January 23, 2019 at 11:59 p.m. Eastern Time. To access the replay, dial 844-512-2921 (412-317-6671 for international callers) and enter the Conference ID # 13685608. A replay of the webcast will also be available for 90 days upon completion of the call, accessible through the Company's website at www.volt.com in the Investors & Governance section.
電話會議結束後，將於2019年1月9日星期三晚上7：30開始播放音頻重播。東部時間到2019年1月23日(星期三)晚上11：59東部時間。要收聽重播，請撥打844-512-2921(國際呼叫者為412-317-6671)並輸入會議ID#13685608。電話會議結束後，還可以在90天內重播網絡直播，可通過公司網站www.volt.com的投資者和治理部分收看。
About Volt Information Sciences, Inc.
Volt信息科學公司簡介
Volt Information Sciences, Inc. 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. Our customer care solutions specialize in serving as an extension of our customers' consumer relationships and processes including collaborating with customers, from help desk inquiries to advanced technical support. Our complementary businesses offer customer care call centers, customized talent, and supplier management solutions to a diverse client base. 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.
Volt Information Science，Inc.是一家全球性的人力資源服務提供商(傳統的基於時間和材料以及基於項目)。我們的員工服務包括勞動力解決方案，包括提供臨時工、人員招聘服務和管理員工服務計劃，主要支持行政、技術、信息技術、輕工業和工程職位。我們的管理人員計劃包括管理來自多個供應商的臨時工的採購和入職。我們的客户服務解決方案專門作為客户客户關係和流程的延伸，包括與客户的協作，從服務枱查詢到高級技術支持。我們的互補業務為不同的客户羣提供客户服務呼叫中心、定製的人才和供應商管理解決方案。Volt為全球行業提供服務，包括航空航天、汽車、銀行和金融、消費電子、信息技術、保險、生命科學、製造、媒體和娛樂、製藥、軟件、電信、交通和公用事業。欲瞭解更多信息，請訪問www.volt.com。
Forward-Looking Statements
前瞻性陳述
(MORE TO FOLLOW) Dow Jones Newswires
(更多後續報道)道瓊斯通訊社
January 09, 2019 16:05 ET (21:05 GMT)
2019年01月09日東部時間16：05(格林尼治標準時間21：05)
Press Release: Volt Reports Fiscal 2018 Fourth -2-
新聞稿：Volt報告2018財年第四季度至第二季度-
This press release contains forward-looking statements, including North American Staffing segment's revenue outlook for the first quarter of fiscal 2019, that are subject to a number of known and unknown risks, including, among others, general economic, competitive and other business conditions, the degree and timing of customer utilization and rate of renewals of 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 company reports filed with the Securities and Exchange Commission. Copies of the Company's latest Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q, as filed with the Securities and Exchange Commission, are available without charge upon request to Volt Information Sciences, Inc., 50 Charles Lindbergh Blvd., Suite 206, Uniondale, NY 11553 Attention: Shareholder Relations. These and other SEC filings by the Company are also available to the public over the Internet at the SEC's website at http://www.sec.gov and at the Company's website at http://www.volt.com in the Investor & Governance section.
本新聞稿包含前瞻性陳述，包括北美員工部門2019財年第一季度的收入展望，這些陳述會受到許多已知和未知風險的影響，這些風險包括但不限於一般經濟、競爭和其他商業條件、客户利用率的程度和時機以及與公司續簽合同的比率，以及可能導致實際結果、業績和成就與前瞻性陳述中描述或暗示的情況大不相同的業務改善計劃的成功程度。有關這些和其他可能導致實際結果與前瞻性陳述大不相同的因素的信息包含在提交給證券交易委員會的公司報告中。提交給證券交易委員會的公司最新的Form 10-K年度報告和隨後的Form 10-Q季度報告的副本可免費向Volt信息科學公司索取，地址為Charles Lindbergh Blvd.50 Charles Lindbergh Blvd.，Suite206，Unondale，NY 11553。公眾也可以通過互聯網在美國證券交易委員會網站http://www.sec.gov和公司網站http://www.volt.com的投資者與治理部分查閲美國證券交易委員會提交的上述文件和其他美國證券交易委員會文件。
Note Regarding the Use of Non-GAAP Financial Measures
關於使用非公認會計準則財務計量的説明
The Company has provided certain Non-GAAP financial information, which includes adjustments for special items and certain line items on a constant currency basis, as additional information for its segment revenue, consolidated net income (loss), segment operating income (loss) and Adjusted EBITDA. 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.
該公司提供了某些非GAAP財務信息，其中包括在不變貨幣基礎上對特殊項目和某些項目的調整，作為其部門收入、綜合淨收入(虧損)、部門營業收入(虧損)和調整後EBITDA的補充信息。這些計量不符合公認會計原則(“GAAP”)，或替代公認會計原則(“GAAP”)，可能與其他公司報告的非GAAP計量不同。
The Company believes that the presentation of Non-GAAP measures on a constant currency basis, eliminating special items and the impact of businesses sold 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 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 not indicative of the Company's current or future period performance and are more fully disclosed in the tables.
該公司認為，在不變貨幣基礎上列報非GAAP措施，剔除特殊項目和出售業務的影響，為管理層和投資者提供了有關與其財務狀況和經營結果有關的某些財務和業務趨勢的有用信息，因為它們允許評估公司的結果，而不受貨幣波動、特殊項目或出售業務的影響的影響，管理層認為這些影響使理解和評估公司的經營結果變得更加困難。特殊項目包括減值、重組和遣散費以及某些收入或支出，這些收入或支出不能反映公司當前或未來的業績，在表格中披露得更充分。
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.
經調整的EBITDA被定義為扣除利息、所得税、折舊及攤銷前的收益或虧損(“EBITDA”)，調整後的EBITDA不包括基於股份的薪酬支出以及上述特殊項目。
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.
調整後的EBITDA是業績指標，而不是現金流指標。該公司認為，調整後EBITDA的列報對投資者是相關和有用的，因為它允許投資者以與管理層使用的方法類似的方式查看業績。
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.
調整後的EBITDA作為一種分析工具具有侷限性，不應孤立於對公司根據公認會計原則報告的運營和運營現金流的分析，或將其作為分析的替代。例如，調整後的EBITDA沒有反映資本支出或合同承諾；沒有反映公司營運資金需求的變化或現金需求；沒有反映公司債務的利息支出或支付利息所需的現金需求；也沒有反映支付所得税所需的現金。
The Company's computation of Adjusted EBITDA 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.
本公司的調整後EBITDA的計算可能無法與其他公司計算的其他類似名稱的衡量標準進行比較，因為所有公司並不以相同的方式計算這些衡量標準。
Results of Operations
(in thousands, except per share data)
Three Months Ended Twelve Months Ended
------------------------------- --------------------------
October July 29, October October 28, October 29,
28, 2018 2018 29, 2017 2018 2017
--------- --------- --------- ----------- -------------
Net revenue $264,805 $257,808 $288,483 $1,039,170 $1,194,436
Cost of services 220,797 221,448 240,816 885,492 1,007,041
------- ------- ------- --------- ---------
Gross margin 44,008 36,360 47,667 153,678 187,395
Selling,
administrative
and other
operating costs 41,261 42,222 50,138 173,337 197,130
Restructuring and
severance costs 4,512 3,108 307 8,242 1,379
Impairment and
settlement
charges 351 - 1,404 506 1,694
Gain from
divestitures - - (48,033) - (51,971)
------- ------- ------- --------- ---------
Operating income
(loss) (2,116) (8,970) 43,851 (28,407) 39,163
Interest income
(expense), net (627) (552) (1,026) (2,592) (3,751)
Foreign exchange
gain (loss), net 491 (294) (218) 403 (1,637)
Other income
(expense), net (252) (296) (375) (1,131) (1,562)
------- ------- ------- --------- ---------
Income (loss)
before income
taxes (2,504) (10,112) 42,232 (31,727) 32,213
Income tax
provision 382 1,306 2,458 958 3,388
------- ------- ------- --------- ---------
Income (loss) from
continuing
operations (2,886) (11,418) 39,774 (32,685) 28,825
Loss from
discontinued
operations - - (1,693) - (1,693)
------- ------- ------- --------- ---------
Net income (loss) $ (2,886) $(11,418) $ 38,081 $ (32,685) $ 27,132
======= ======= ======= ========= =========
Per share data:
Basic:
Income (loss) from
continuing
operations $ (0.14) $ (0.54) $ 1.90 $ (1.55) $ 1.38
Loss from
discontinued
operations - - (0.08) - (0.08)
------- ------- ------- --------- ---------
Net income (loss) $ (0.14) $ (0.54) $ 1.82 $ (1.55) $ 1.30
======= ======= ======= ========= =========
Weighted average
number of shares 21,072 21,071 20,967 21,051 20,942
Diluted:
Income (loss) from
continuing
operations $ (0.14) $ (0.54) $ 1.90 $ (1.55) $ 1.37
Loss from
discontinued
operations - - (0.08) - (0.08)
------- ------- ------- --------- ---------
Net income (loss) $ (0.14) $ (0.54) $ 1.82 $ (1.55) $ 1.29
======= ======= ======= ========= =========
Weighted average
number of shares 21,072 21,071 20,982 21,051 21,017
Segment data:
Net revenue:
North American
Staffing $220,540 $215,679 $224,219 $ 860,544 $ 919,260
International
Staffing 27,289 28,579 30,163 117,351 119,762
North American MSP 8,208 6,959 9,423 29,986 36,783
Corporate and
Other 9,708 7,456 26,585 35,228 125,089
Eliminations (940) (865) (1,907) (3,939) (6,458)
------- ------- ------- --------- ---------
Net revenue $264,805 $257,808 $288,483 $1,039,170 $1,194,436
======= ======= ======= ========= =========
Operating income
(loss):
North American
Staffing $ 8,197 $ 2,961 $ 5,526 $ 12,103 $ 17,153
International
Staffing 1,000 677 944 2,397 2,848
North American MSP 844 107 809 1,633 2,613
Corporate and
Other (12,157) (12,715) (11,461) (44,540) (35,422)
Gain from
divestiture - - 48,033 - 51,971
------- ------- ------- --------- ---------
Operating income
(loss) $ (2,116) $ (8,970) $ 43,851 $ (28,407) $ 39,163
======= ======= ======= ========= =========
Work days 64 63 64 251 251
Condensed Consolidated Statements of Cash Flows
(in thousands)
Twelve Months ended
----------------------
October October 29,
28, 2018 2017
--------- -----------
Cash and cash
equivalents, beginning
of the period $ 37,077 $ 6,386
Cash used in all
other operating
activities (25,525) (9,586)
Changes in operating
assets and
liabilities 20,029 14,155
------- -------
Net cash provided by
(used in) operating
activities (5,496) 4,569
------- -------
Purchases of
property, equipment,
and software (3,565) (9,312)
Proceeds from
divestitures - 81,102
Net cash provided by
all other investing
activities 331 876
經營成果
(單位為千，每股數據除外)
截至三個月截至十二個月
------------------------------- --------------------------
10月7月29日，10月28日，10月29日，
28, 2018 2018 29, 2017 2018 2017
--------- --------- --------- ----------- -------------
淨收入264,805美元257,808美元288,483美元1,039,170美元1,194,436美元
服務成本220,797 221,448 240,816 885,492 1,007,041
------- ------- ------- --------- ---------
毛利率44,008 36,360 47,667 153,678 187,395
銷售，
行政性
及其他
營運成本41,261 42,222 50,138 173,337 197,130
重組和
遣散費4,512 3 108 307 8 242 1 379
減值和
沉降量
收費351-1,404 506 1,694
受益於
資產剝離--(48,033)-(51,971)
------- ------- ------- --------- ---------
營業收入
(損失)(2,116)(8,970)43,851(28,407)39,163
利息收入
(費用)，淨額(627)(552)(1026)(2592)(3751)
外匯
收益(虧損)，淨額491(294)(218)403(1,637)
其他收入
(費用)，淨額(252)(296)(375)(1131)(1562)
------- ------- ------- --------- ---------
收入(虧損)
未計收入
税款(2,504)(10,112)42,232(31,727)32,213
所得税
條文382 1,306 2,458 958 3,388
------- ------- ------- --------- ---------
收入(虧損)來自
繼續
業務(2,886)(11,418)39,774(32,685)28,825
因以下原因損失
停產
業務--(1,693)-(1,693)
------- ------- ------- --------- ---------
淨收益(虧損)$(2,886)$(11,418)$38,081$(32,685)$27,132
======= ======= ======= ========= =========
每股數據：
基本信息：
收入(虧損)來自
繼續
運營費用$(0.14)$(0.54)$1.90$(1.55)$1.38
因以下原因損失
停產
業務--(0.08)-(0.08)
------- ------- ------- --------- ---------
淨收益(虧損)$(0.14)$(0.54)$1.82$(1.55)$1.30
======= ======= ======= ========= =========
加權平均
股份數目21,072 21,071 20,967 21,051 20,942
稀釋：
收入(虧損)來自
繼續
運營費用$(0.14)$(0.54)$1.90$(1.55)$1.37
因以下原因損失
停產
業務--(0.08)-(0.08)
------- ------- ------- --------- ---------
淨收益(虧損)$(0.14)$(0.54)$1.82$(1.55)$1.29
======= ======= ======= ========= =========
加權平均
股份數目21,072 21,071 20,982 21,051 21,017
細分數據：
淨收入：
北美地區
人員編制220,540元215,679元224,219元860,544元919,260元
國際
工作人員27,289 28,579 30,163 117,351 119,762
北美MSP 8,208 6,959 9,423 29,986 36,783
公司和
其他9,708 7,456 26,585 35,228 125,089
剔除(940)(865)(1907)(3939)(6458)
------- ------- ------- --------- ---------
淨收入264,805美元257,808美元288,483美元1,039,170美元1,194,436美元
======= ======= ======= ========= =========
營業收入
(損失)：
北美地區
人手8,197元2,961元5,526元12,103元17,153元
國際
工作人員1,000 677 944 2,397 2,848
北美MSP 844 107 809 1,633 2,613
公司和
其他(12,157)(12,715)(11,461)(44,540)(35,422)
受益於
資產剝離--48,033-51,971
------- ------- ------- --------- ---------
營業收入
(虧損)$(2,116)$(8,970)$43,851$(28,407)$39,163
======= ======= ======= ========= =========
工作日64 63 64 251
現金流量表簡明合併報表
(單位：千)
截至12個月
----------------------
10月29日，10月29日
28, 2018 2017
--------- -----------
現金和現金
等效項，開始
期間37,077元6,386元
所有使用的現金
其他運營
活動(25,525)(9,586)
經營方式的變化
資產和
負債20,029 14,155
------- -------
提供的現金淨額
(用於)操作
活動(5,496)4,569
------- -------
購買
財產、設備、
和軟件(3565)(9312)
收益來自
資產剝離--81,102
提供的現金淨額
所有其他投資
活動331 876
(MORE TO FOLLOW) Dow Jones Newswires
(更多後續報道)道瓊斯通訊社
January 09, 2019 16:05 ET (21:05 GMT)
2019年01月09日東部時間16：05(格林尼治標準時間21：05)
Press Release: Volt Reports Fiscal 2018 Fourth -3-
新聞稿：Volt報告2018財年第四季至第三季-
------- -------
Net cash provided by
(used in) investing
activities (3,234) 72,666
------- -------
Net repayment of
borrowings - (47,050)
Debt issuance costs (1,469) (1,190)
Net cash used in all
other financing
activities (271) (50)
------- -------
Net cash used in
financing activities (1,740) (48,290)
------- -------
Effect of exchange rate
changes on cash and
cash equivalents (1,844) 1,746
Net increase (decrease)
in cash and cash
equivalents (12,314) 30,691
------- -------
Cash and cash
equivalents, end of the
period $ 24,763 $ 37,077
======= =======
Cash paid during the
period:
Interest $ 2,765 $ 3,840
Income taxes $ 3,341 $ 3,521
Condensed Consolidated Balance Sheets
(in thousands, except share amounts)
October October 29,
28, 2018 2017
--------- -----------
ASSETS
CURRENT ASSETS:
Cash and cash equivalents $ 24,763 $ 37,077
Restricted cash and
short-term investments 14,844 20,544
Trade accounts receivable,
net of allowances of $759
and $1,249, respectively 157,445 173,818
Recoverable income taxes 96 1,643
Other current assets 7,348 11,755
------- -------
TOTAL CURRENT ASSETS 204,496 244,837
Other assets, excluding current
portion 7,808 10,851
Property, equipment and
software, net 24,392 29,121
------- -------
TOTAL ASSETS $236,696 $284,809
======= =======
LIABILITIES AND STOCKHOLDERS'
EQUITY
CURRENT LIABILITIES:
Accrued compensation $ 27,120 $ 24,504
Accounts payable 33,498 36,895
Accrued taxes other than
income taxes 15,275 20,467
Accrued insurance and other 23,335 30,282
Short-term borrowings - 50,000
Income taxes payable 1,097 808
------- -------
TOTAL CURRENT LIABILITIES 100,325 162,956
Accrued insurance and other,
excluding current portion 13,478 10,828
Deferred gain on sale of real
estate, excluding current
portion 22,216 24,162
Income taxes payable, excluding
current portion 600 1,663
Deferred income taxes 510 1,206
Long-term debt 49,068 -
------- -------
TOTAL LIABILITIES 186,197 200,815
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 -
21,179,068 and 21,026,253
shares, respectively 2,374 2,374
Paid-in capital 79,057 78,645
Retained earnings 9,738 45,843
Accumulated other comprehensive
loss (7,070) (5,261)
Treasury stock, at cost;
2,558,935 and 2,711,750
shares, respectively (33,600) (37,607)
------- -------
TOTAL STOCKHOLDERS' EQUITY 50,499 83,994
------- -------
TOTAL LIABILITIES AND
STOCKHOLDERS' EQUITY $236,696 $284,809
======= =======
GAAP to Non-GAAP
Reconciliations
(in thousands)
Three Months Ended
---------------------------
October 28, October
2018 29, 2017
----------- ---------
Reconciliation of GAAP
income (loss) from
continuing operations to
Non-GAAP net income
(loss) from continuing
operations:
GAAP income (loss) from
continuing operations $(2,886) $ 39,774
Selling,
administrative and
other operating
costs (486) (a) (486) (a)
Restructuring and
severance costs 4,512 307
Settlement and
impairment charges 351 1,404 (b)
Gain from divestitures - (48,033) (c)
------ -------
Non-GAAP income (loss)
from continuing
operations $ 1,491 $ (7,034)
====== =======
Three Months Ended
---------------------------
October 28, October
2018 29, 2017
----------- ---------
Reconciliation of GAAP
income (loss) from
continuing operations to
Adjusted EBITDA:
GAAP income (loss) from
continuing operations $(2,886) $ 39,774
Selling,
administrative and
other operating
costs (486) (a) (486) (a)
Restructuring and
severance costs 4,512 307
Settlement and
impairment charges 351 1,404 (b)
Gain from divestitures - (48,033) (c)
Depreciation and
amortization 1,694 2,407
Share-based
compensation expense 753 644
Total other (income)
expense, net 388 1,619
Provision for income
taxes 382 2,458
------ -------
Adjusted EBITDA $ 4,708 $ 94
====== =======
Special item adjustments consist of the following:
(a) Relates to the amortization of the gain on the sale of the Orange, CA
facility, which is included in Selling, administrative and other
operating costs.
(b) Relates to the settlement charge associated with the early payment of
the NewNet note.
(c) Relates to the gain on the sale of the quality assurance testing
division of the Technology Outsourcing Services and Solutions
segment.
GAAP to Non-GAAP Reconciliations
(in thousands)
Twelve Months Ended
-------------------------
October October
28, 2018 29, 2017
--------- ---------
Reconciliation of GAAP
income (loss) from
continuing operations to
Non-GAAP net income
(loss) from continuing
operations:
GAAP income (loss) from
continuing operations $(32,685) $ 28,825
Selling, administrative
and other operating
costs (1,944) (a) (1,944) (a)
Restructuring and
severance costs 8,242 1,379
Settlement and
impairment charges 506 (b) 1,694 (e)
Gain from divestitures - (51,971) (f)
Income tax benefit (1,052) (c) (1,283) (g)
------- -------
Non-GAAP income (loss)
from continuing
operations $(26,933) $(23,300)
======= =======
Twelve Months Ended
-------------------------
October October
28, 2018 29, 2017
--------- ---------
Reconciliation of GAAP
income (loss) from
continuing operations to
Adjusted EBITDA:
GAAP income (loss) from
continuing operations $(32,685) $ 28,825
Selling, administrative
and other operating
costs (1,944) (a) (1,944) (a)
Restructuring and
severance costs 8,242 1,379
Settlement and
impairment charges 506 (b) 1,694 (e)
Gain from divestitures - (51,971) (f)
Depreciation and
amortization 7,209 8,025
Share-based
compensation expense 1,270 (d) 2,755
Total other (income)
loss, net 3,320 6,950
Provision for income
taxes 958 3,388
------- -------
Adjusted EBITDA $(13,124) $ (899)
======= =======
Special item adjustments consist of the following:
(a) Relates to the amortization of the
gain on the sale of the Orange, CA
facility, which is included in
Selling, administrative and other
operating costs.
(b) Relates to previously purchased
software module that is no longer in
------- -------
提供的現金淨額
(用於)投資
活動(3234)72,666
------- -------
淨還款額
借款-(47,050)
發債成本(1469)(1190)
全部使用的現金淨額
其他融資
活動(271)(50)
------- -------
使用的現金淨額
籌資活動(1740)(48290)
------- -------
匯率的影響
現金和現金的變化
現金等價物(1844)1746
淨增加(減少)
現金和現金
等值(12,314)30,691
------- -------
現金和現金
等效項，末尾
期間24,763元37,077元
======= =======
在此期間支付的現金
期間：
利息$2,765$3,840
所得税3,341美元3,521
簡明綜合資產負債表
(單位為千，不包括份額)
10月29日，10月29日
28, 2018 2017
--------- -----------
資產
流動資產：
現金及現金等價物24,763美元37,077美元
受限現金和
短期投資14,844 20,544
應收貿易賬款，
扣除免税額淨額759美元
和1,249美元，分別為157,445 173,818
可退還所得税96 1,643
其他流動資產7,348 11,755
------- -------
流動資產總額204,496 244,837
其他資產，不包括流動資產
部分7,808 10,851
財產、設備和
軟件，淨額24,392 29,121
------- -------
總資產$236,696$284,809
======= =======
負債和股東的責任
股權
流動負債：
應計薪酬$27,120$24,504
應付帳款33,498 36,895
應計税項以外的其他應計税項
所得税15,275 20,467
應計保險及其他23,335 30,282
短期借款--50,000
應繳所得税1,097 808
------- -------
流動負債總額100,325 162,956
應計保險和其他，
不包括當前部分13,478 10,828
出售不動產的遞延收益
遺產，不包括流動資產
部分22,216 24,162
應付所得税，不包括
當前部分600 1,663
遞延所得税510 1 206
長期債務49,068-
------- -------
總負債186,197 200,815
承付款和或有事項
股東權益
優先股，面值
價值1.00美元；授權
-50萬股；
已發佈-無--
普通股，面值0.10美元；
授權--1.2億
已發行股份--23,738,003股
股票；未償還的-
21,179,068和21,026,253
分別為2,374，2,374股
實收資本79,057 78,645
留存收益9,738 45,843
累計的其他綜合
虧損(7,070)(5,261)
庫存股，按成本計算；
2,558,935和2,711,750
股票，分別為(33,600)(37,607)
------- -------
股東權益總額50,499 83,994
------- -------
總負債和
股東權益$236,696$284,809
======= =======
從公認會計原則到非公認會計原則
對賬
(單位：千)
截至三個月
---------------------------
10月28日，10月
2018 29, 2017
----------- ---------
公認會計原則的對賬
收入(虧損)來自
繼續運營以
非公認會計準則淨收益
(虧損)繼續
運營：
GAAP收益(虧損)來自
持續運營$(2,886)$39,774
銷售，
管理和
其他運營
費用(486)(A)(486)(A)
重組和
遣散費4,512 307
安置點和
減值費用3511404(B)
資產剝離收益--(48,033)(C)
------ -------
非公認會計準則收入(虧損)
從繼續
運營費1,491美元(7,034美元)
====== =======
截至三個月
---------------------------
10月28日，10月
2018 29, 2017
----------- ---------
公認會計原則的對賬
收入(虧損)來自
繼續運營以
調整後的EBITDA：
GAAP收益(虧損)來自
持續運營$(2,886)$39,774
銷售，
管理和
其他運營
費用(486)(A)(486)(A)
重組和
遣散費4,512 307
安置點和
減值費用3511404(B)
資產剝離收益--(48,033)(C)
折舊和折舊
攤銷1,694 2,407
以股份為基礎
薪酬支出753 644
其他(收入)合計
費用，淨額3881619
關於收入的準備金
税款382 2458
------ -------
調整後EBITDA$4,708$94
====== =======
特殊項目調整包括以下內容：
(A)與出售加州奧蘭治的收益攤銷有關
設施，包括銷售、行政和其他
運營成本。
(B)與提早付款有關的和解費用
新聞網的筆記。
(C)與出售質量保證測試的收益有關
技術外包服務和解決方案司
細分市場。
GAAP對非GAAP的調整
(單位：千)
截至12個月
-------------------------
10月10月
28, 2018 29, 2017
--------- ---------
公認會計原則的對賬
收入(虧損)來自
繼續運營以
非公認會計準則淨收益
(虧損)繼續
運營：
GAAP收益(虧損)來自
持續運營$(32,685)$28,825
銷售，行政管理
和其他操作
費用(1944)(A)(1944)(A)
重組和
遣散費8,242 1,379
安置點和
減值費用506(B)1,694(E)
資產剝離收益--(51,971)(F)
所得税優惠(1,052)(C)(1,283)(G)
------- -------
非公認會計準則收入(虧損)
從繼續
運營費用$(26,933)$(23,300)
======= =======
截至12個月
-------------------------
10月10月
28, 2018 29, 2017
--------- ---------
公認會計原則的對賬
收入(虧損)來自
繼續運營以
調整後的EBITDA：
GAAP收益(虧損)來自
持續運營$(32,685)$28,825
銷售，行政管理
和其他操作
費用(1944)(A)(1944)(A)
重組和
遣散費8,242 1,379
安置點和
減值費用506(B)1,694(E)
資產剝離收益--(51,971)(F)
折舊和折舊
攤銷7,209 8,025
以股份為基礎
薪酬支出1270(D)2755
其他(收入)合計
淨虧損3,320 6,950
關於收入的準備金
税款958 3388
------- -------
調整後的EBITDA$(13,124)$(899)
======= =======
特殊項目調整包括以下內容：
(A)與攤銷有關的
出售加州奧蘭治酒店的收益
設施，它包含在
銷售、行政和其他
運營成本。
(B)與以前購買的
已不在的軟件模塊
(MORE TO FOLLOW) Dow Jones Newswires
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January 09, 2019 16:05 ET (21:05 GMT)
2019年01月09日東部時間16：05(格林尼治標準時間21：05)
Press Release: Volt Reports Fiscal 2018 Fourth -4-
新聞稿：Volt報告2018財年第4-4財年
use.
(c) Relates to a discrete tax benefit
resulting from the expiration of
uncertain tax positions in the first
quarter of fiscal 2018.
(d) Includes share-based compensation
forfeited in accordance with the
former chief executive officer's
separation agreement.
(e) Relates to the settlement charge
associated with the early payment of
the NewNet note and impairment of
previously purchased software module
no longer in use.
(f) Relates to the sale of Maintech, a
non-core business and the sale of the
quality assurance testing division of
the Technology Outsourcing Services
and Solutions segment.
(g) Relates to a discrete tax benefit
resulting from the resolution of
uncertain tax positions upon the
completion and effective settlement
of the IRS audit of the Company's
fiscal 2004 through 2010 federal tax
and associated state tax audits.
使用。
(C)與單獨的税收優惠有關
因以下原因引起的
第一季度税收狀況不確定
2018財年第一季度。
(D)包括基於股份的薪酬
根據《公約》沒收
前首席執行官的
分居協議。
(E)與和解費用有關
與提早付款有關
NewNet的筆記和減值
以前購買的軟件模塊
不再使用了。
(F)與Maintech的出售有關，
非核心業務和銷售
質量保證測試部
技術外包服務
和解決方案細分市場。
(G)與單獨的税收優惠有關
由於解決了
不確定的税收狀況
竣工並有效解決
美國國税局對公司的審計
2004財年至2010財年聯邦税收
以及相關的州税務審計。
View source version on businesswire.com: https://www.businesswire.com/news/home/20190109005769/en/
在Business wire.com上查看源代碼版本：https://www.businesswire.com/news/home/20190109005769/en/
CONTACT: Investor Contacts:
聯繫人：投資者聯繫人：
Volt Information Sciences, Inc.
Volt Information Science，Inc.
voltinvest@volt.com
郵箱：voltInvest@volt.com
Lasse Glassen
Lasse Glassen
Addo Investor Relations
Addo投資者關係
lglassen@addoir.com
郵箱：lglassen@addoir.com
424-238-6249
424-238-6249
(END) Dow Jones Newswires
(完)道瓊斯通訊社
January 09, 2019 16:05 ET (21:05 GMT)
2019年01月09日東部時間16：05(格林尼治標準時間21：05)
*DJ Volt Information Sciences 4Q Loss/Shr 14c >VISI
*DJ Volt Information Science第四季度虧損/Shr 14c>VISI
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January 09, 2019 16:05 ET (21:05 GMT)
2019年01月09日東部時間16：05(格林尼治標準時間21：05)
*DJ Volt Information Sciences 4Q Loss $2.89M >VISI
*DJ Volt Information Science第四季度虧損289萬美元>VISI
(MORE TO FOLLOW) Dow Jones Newswires (212-416-2800)
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January 09, 2019 16:05 ET (21:05 GMT)
2019年01月09日東部時間16：05(格林尼治標準時間21：05)
*DJ Volt Information Sciences 4Q Rev $264.8M >VISI
*DJ Volt Information Science第四季度修訂版2.648億美元>VISI
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January 09, 2019 16:05 ET (21:05 GMT)
2019年01月09日東部時間16：05(格林尼治標準時間21：05)
*DJ Volt Information: In Last Month of 4Q, N. Amer Staffing Segment Had Yr-Over-Yr Rev Growth for First Time in Many Years>VISI
*DJ Volt信息：在第四季度的最後一個月，N.Amer人力資源部門多年來首次出現同比增長>VISI
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January 09, 2019 16:07 ET (21:07 GMT)
2019年01月09日東部時間16：07(格林尼治標準時間21：07)
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