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VOLT INFORMATION SCIENCES, INC., ANNOUNCES THIRD QUARTER AND NINE MONTHS 1993 RESULTS OF OPERATIONS

 NEW YORK, Sept. 9 /PRNewswire/ -- William Shaw, president of Volt Information Sciences, Inc. (NASDAQ-NMS: VOLT), announced today that the net loss for the third quarter ended July 30, 1993, was $655,000, or 14 cents per share, on revenues of $141,333,000 compared to a net income of $2,526,000, or 53 cents per share, on revenues of $137,295,000 for the third quarter ended July 31, 1992.
 Shaw stated that the principal reason for the loss in the third quarter was a $2.1 million, or 28 cents per share, charge to earnings by Volt's Computer system segment to cover present and anticipated future cost overruns on its first contract for its new directory assistance system. This contract was the first of several contracts for delivery of the system to various domestic telephone companies. Shaw noted that it is not unusual to encounter such cost overruns on the first order for sophisticated software systems, and that it is anticipated that the other contracts should be profitable.
 The net loss for the nine months ended July 30, 1993, was $2,364,000, or 49 cents per share, on revenues of $403,205,000 compared to a net loss of $1,236,000, or 26 cents per share, on revenues of $381,740,000 for the nine months ended July 31, 1992.
 Volt Information Sciences, Inc., is a diversified technical services, human resources, computer systems and electronics manufacturing company.
 VOLT INFORMATION SCIENCES, INC., AND SUBSIDIARIES
 Summary of Results of Operations
 (Dollars in thousands, except per share data)
 Third Quarter Ended Nine Months Ended
 7/30/93 7/31/92 7/30/93 7/31/92
 Revenues $141,333 $137,295 $403,205 $381,740
 Income (loss) before
 income taxes and
 cumulative effect of a
 change in accounting
 (A,B,C) $(968) $3,937 $(4,963) $(1,484)
 Income tax provision
 (benefit) (313) 1,411 (1,640) (248)
 Income (loss) before
 cumulative effect of a
 change in accounting (655) 2,526 (3,323) (1,236)
 Cumulative effect of a
 change in accounting
 for income taxes(D) -- -- 959 --
 Net income (loss) $(655) $2,526 $(2,364) $(1,236)
 Per Share Data
 Income (loss) before
 cumulative effect of a
 change in accounting $(.14) $.53 $(.69) $(.26)
 Cumulative effect of a
 change in accounting -- -- .20 --
 Net income (loss) $(.14) $.53 $(.49) $(.26)
 Number of shares used
 in computation 4,802,026 4,790,381 4,797,809 4,790,381
 VOLT INFORMATION SCIENCES, INC. AND SUBSIDIARIES
 Summary of Results of Operations by Segment
 (Dollars in thousands)
 Third quarter ended Nine months ended
 7/30/93 7/31/92 7/30/93 7/31/92
 Revenues:
 Technical services and
 temporary personnel $86,844 $81,465 $246,802 $236,208
 Electronic publication
 and typesetting systems 14,730 14,289 40,647 39,328
 Telephone directory 19,358 16,157 52,244 44,041
 Engineering and construction 10,079 8,621 32,942 25,490
 Computer systems 9,604 12,767 28,837 30,335
 Equity in net income of
 joint ventures (A) 1,708 4,597 4,420 6,519
 Interest and other income,
 net (B) 591 470 2,287 2,620
 Elimination of intersegment
 revenues (1,581) (1,071) (4,974) (2,801)
 Total 141,333 137,295 403,205 381,740
 Income (loss) before income
 taxes and cumulative
 effect of a change
 in accounting:
 Operating profit (loss):
 Technical services and
 temporary personnel
 (C) 1,670 1,585 4,636 3,331
 Electronic publication and
 typesetting systems 406 389 184 (653)
 Telephone directory 2,347 1,838 2,183 2,717
 Engineering and construction (458) (741) (1,043) (2,287)
 Computer systems (C) (2,249) 854 (2,382) 1,895
 Eliminations (22) (24) (368) (220)
 Total operating profit 1,694 3,901 3,210 4,783
 Equity in net income of joint
 ventures (A) 1,708 4,597 4,420 6,519
 Interest and other income,
 net (B) 591 470 2,287 2,620
 General corporate expenses (2,232) (2,259) (6,569) (6,871)
 Interest expense (2,703) (2,814) (8,149) (8,709)
 Foreign exchange gain
 (loss) - net (26) 42 (162) 174
 Income (loss) before income
 taxes and cumulative effect
 of a change in accounting (968) 3,937 (4,963) (1,484)
 (A) During the nine months, the company's share of profits from its Australian joint venture exceeded its 12-1/2 percent ownership by $740,000 (10 cents per share) in fiscal 1993 and $1,594,000 (22 cents per share) in fiscal 1992 under an arrangement which ended April 30, 1993.
 (B) The nine months of fiscal 1993 included gains on securities of $168,000 (3 cents per share). The results of the nine months of fiscal 1992 included gains on the sales of securities of $544,000 (7 cents per share).
 (C) The results of operations for the third quarter and nine months of fiscal 1993 included a $2,100,000 (28 cents per share) provision for a loss due to costs not recoverable under a major contract of the computer systems segment.
 The results of the nine months of fiscal 1992 included a first quarter reversal of a portion of prior year's business tax expenses which favorably impacted the operating profit of the technical services and temporary personnel segment by $1,070,000 (15 cents per share).
 (D) The company has adopted the Statement of Financial Accounting Standards No. 109 "Accounting for Income Taxes" in the first quarter of fiscal 1993 and has not restated prior years' financial statements.
 -0- 9/9/93
 /CONTACT: James J. Groberg of Volt Information Sciences, Inc., 212-704-2480/
 (VOLT)


CO: Volt Information Sciences, Inc. ST: New York IN: CPR SU: ERN

LG-BT -- NY022 -- 0286 09/09/93 11:32 EDT
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Date:Sep 9, 1993
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