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VOLT INFORMATION SCIENCES ANNOUNCES FISCAL YEAR AND FOURTH QUARTER 1991 RESULTS OF OPERATIONS

 VOLT INFORMATION SCIENCES ANNOUNCES FISCAL YEAR AND FOURTH
 QUARTER 1991 RESULTS OF OPERATIONS
 NEW YORK, Jan. 7 /PRNewswire/ -- William Shaw, president of Volt Information Sciences, Inc. (NASDAQ: VOLT) announced today that the income from continuing operations was $345,000 or $.07 per share and the net income was $924,000 or $.19 per share on revenues of $483,632,000 for the fiscal year ended Nov. 1, 1991, as compared to a loss from continuing operations of $1,004,000 or $.18 per share and net loss of $1,703,000 or $.30 per share on revenues of $501,387,000 for the fiscal year 1990.
 The net income for the current fiscal year included a pretax gain, net of legal expenses, of $6,658,000 ($4,053,000 net of taxes or $.84 per share), due to the settlement of litigation and an extraordinary gain of $579,000 (net of taxes) or $.12 per share. The net loss in fiscal 1990 included a loss from discontinued operations of $885,000 (net of taxes) or $.15 per share and an extraordinary gain of $186,000 (net of taxes) or $.03 per share.
 The loss from continuing operations was $741,000 or $.16 per share and the net loss was $700,000 or $.15 per share on revenues of $124,099,000 for the fourth quarter ended Nov. 1, 1991, as compared to a loss from continuing operations of $2,291,000 of $.43 per share and net loss of $2,255,000 or $.42 per share on revenues of $119,587,000 for the fourth quarter of fiscal 1990.
 The net loss for the current fourth quarter included an extraordinary gain of $41,000 (net of taxes) or $.01 per share. The net loss for the fourth quarter of fiscal 1990 included an extraordinary gain of $36,000 (net of taxes) or $.01 per share.
 Volt Information Sciences, Inc. is a diversified technical services, human resources, computer systems and electronics manufacturing company.
 VOLT INFORMATION SCIENCES, INC. AND SUBSIDIARIES
 (Dollars in thousands, except per-share data)
 Periods ended Fiscal year Fourth quarter
 11/1/91 11/2/90 11/1/91 11/2/90
 Revenues $483,632 $501,387 $124,099 $119,587(F)
 Loss from cont. opers.
 before income taxes
 and extraordinary items
 (A,B,E) (1,126) (1,687) (1,469) (3,896)
 Income tax benefit (C) (1,471) (683) (728) (1,605)
 Income (loss) from cont.
 opers. before extraord.
 items 345 (1,004) (741) (2,291)
 Loss from discont. opers.,
 net of income tax benefit
 of $566 (D) -- (885) -- --
 Extraord. items - gains on
 the retirement of debt, net
 of income taxes of $359, $119,
 $42 and $23 (E) 579 186 41 36
 Net income (loss) 924 (1,703) (700) (2,255)
 Per-share data:
 Income (loss) from cont. opers.
 before extraordinary items $.07 $(.18) $(.16) $(.43)
 Loss from discont. opers. -- (.15) -- --
 Extraordinary items .12 .03 .01 .01
 Net income (loss) .19 (.30) (.15) (.42)
 Number of shares used in
 computation 4,848,318 5,606,920 4,790,381 5,324,423
 Revenues:
 Technical services and
 temporary personnel $270,285 $261,709 $74,262 $66,361
 Electronic publication
 and typesetting systems 57,772 63,763 13,230 19,089
 Telephony 103,904 121,502 26,902 28,011
 Computer systems 36,791 43,584 9,162 8,677
 Other 1,648 4,303 213 1,098
 Equity in income (losses)
 of joint ventures 8,146 7,329 279 (1,212)
 Gain on the settlement of
 litigation and insurance
 claim (A) 6,658 1,493 -- (116)
 Interest and other income,
 net (B,E) 2,696 4,004 779 (445)
 Elimination of inter-
 segment revenues (4,268) (6,300) (728) (1,876)
 Total 483,632 501,387 124,099 119,587
 Loss from continuing operations
 before income taxes and
 extraordinary items:
 Operating profit (loss):
 Technical services and
 temporary personnel (A) 2,712 1,282 1,936 1,361
 Electronic publication
 and typesetting systems(A) 10,541 6,600 (776) 3,122
 Telephony (3,173) 1,139 880 (541)
 Computer systems 934 195 433 (158)
 Other (A) (277) (94) (83) (147)
 Eliminations (941) (345) 24 (104)
 Total operating profit 9,796 8,777 2,414 3,533
 Equity in income (losses)
 of joint ventures 8,146 7,329 279 (1,212)
 Interest and other income,
 net (B,E) 2,696 4,004 779 (445)
 General corporate expenses (9,014) (9,019) (2,008) (2,200)
 Interest expense (13,355) (14,360) (3,102) (3,804)
 Foreign exchange gain - net 605 1,582 169 232
 Loss from cont. opers.
 before income taxes and
 extraordinary items (1,126) (1,687) (1,469) (3,896)
 (A) -- The results of the fiscal year 1991 include a pretax gain, net of legal expenses, of $6,658,000 ($4,053,000 net of taxes or $.84 per share), due to the settlement of litigation. The settlement gain is included in the electronic publication and typesetting systems segment. The fiscal year 1990 includes a pretax gain of $1,493,000 ($.16 per share) as a result of litigation and insurance claim settlements. The 1990 gain has been reclassified as a separate component of revenues. This favorably impacted the technical services and temporary personnel segment ($211,000), the electronic publication and typesetting systems segment ($860,000) and other ($422,000).
 (B) -- The results of fiscal 1991 include losses on the sales of securities of $575,000 ($.10 per share) and an unrealized loss of $335,000 ($.07 per share) to reduce equity investments to market value. The results of the 1990 fiscal year include gains on the sales of securities of $535,000 ($.06 per share) and an unrealized loss of $3,006,000 ($.33 per share) to reduce current investments to market value. The fourth quarters of fiscal years 1991 and 1990 include unrealized loss of $335,000 ($.07 per share) and $2,485,000 ($.28 per share), respectively.
 (C) -- In July 1991, the Internal Revenue Service concluded its examination of the company's tax returns for the fiscal years 1980 through 1988. Accordingly, $1,473,000 ($.30 per share) included in the liability for income taxes at Nov. 2, 1990, applicable to such years in excess of the amount payable as a result of the examination, has been included as a tax benefit for the fiscal year ended Nov. 1, 1991, including $430,000 ($.09 per share) in the fourth quarter.
 (D) -- During the first quarter of 1990 the company discontinued its full-service reproduction and printing operations. The operating losses and the loss on disposal have been classified, net of income tax benefit, to loss from discontinued operations.
 (E) -- The extraordinary items are gains due to retirements, at a discount, of $3,570,000 and $1.4 million face value of the company's 12-3/8 percent subordinated debentures for fiscal years ended Nov. 1, 1991, and Nov. 2, 1990, respectively. Other income in the 1991 fiscal year and fourth quarter includes a $288,000 gain ($.04 per share) applicable to the retirement, at a discount, of $2,330,000 face value of the company's 12-3/8 percent subordinated debentures which satisfies the sinking fund requirement due on July 1, 1992.
 (F) -- The fourth quarter 1990 revenues have been restated to conform with the current year's presentation.
 -0- 1/7/92
 /CONTACT: James J. Groberg of Volt Information Sciences, 212-309-0280/
 (VOLT) CO: Volt Information Sciences, Inc. ST: New York IN: SU: ERN


CK-OS -- NY051 -- 7366 01/07/92 14:06 EST
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