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VOLT INFORMATION SCIENCES, INC. REPORTS FOURTH QUARTER AND FISCAL YEAR 1993 RESULTS OF OPERATIONS

 NEW YORK, Jan. 6 /PRNewswire/ -- William Shaw, president of Volt Information Sciences, Inc., reported today that audited results confirmed previously reported preliminary results for the fourth quarter ended Oct. 29, 1993. He reported that the net loss for the fourth quarter was $351,000 or 7 cents per share on revenues of $161,968,000 compared to net income of $2,327,000 or 49 cents per share on revenues of $148,827,000 for the fourth quarter ended Oct. 30, 1992.
 The net loss for the fiscal year ended Oct. 29, 1993, was $2,715,000 or 57 cents per share on revenues of $565,173,000 compared to a net income of $1,091,000 or 23 cents per share on revenues of $530,567,000 for the fiscal year ended Oct. 30, 1992.
 Mr. Shaw stated that both the loss for the year and for the quarter were the result of previously reported charges of $4,300,000 pretax or 58 cents per share after tax benefit for the fourth quarter and $6,400,000 pretax or 87 cents per share after tax benefit for the fiscal year 1993 for anticipated cost overruns on its computer system segment's two initial contracts for its directory assistance systems. He noted that it is not unusual to encounter such overruns on initial orders for sophisticated software systems of this magnitude and technological advancement. Mr. Shaw stated that both systems have been installed on the customers' sites and are operational, but that additional software releases and hardware are required. Mr. Shaw further stated that similar costs overruns and delays are not anticipated for other customers who have already placed firm orders for similar systems and that it is anticipated that these other contracts should be profitable.
 Volt Information Sciences, Inc. is a diversified technical services, human resources, computer systems and electronics manufacturing company.
 VOLT INFORMATION SCIENCES, INC. AND SUBSIDIARIES
 Summary Results of Operations
 (Dollars in thousands, except per-share data)
 Fiscal Year Fourth Quarter
 10/29/93 10/30/92 10/29/93 10/30/92
 Revenues $565,173 $530,567 $161,968 $148,827
 Inc. (loss) bef. inc. taxes
 & cumulative effect of a
 change in acctg(A)(B)(C) (5,594) 1,775 (631) 3,259
 Inc. tax provision (benefit) (1,920) 684 (280) 932
 Inc. (loss) bef. cum. effect
 of a change in accounting (3,674) 1,091 (351) 2,327
 Cum. effect of a change in
 acctg. for inc. taxes(D) 959 -- -- --
 Net income (loss) (2,715) 1,091 (351) 2,327
 Per-share data:
 Inc. (loss) bef. cum. effect
 of a change in accounting $(.77) $.23 $(.07) $.49
 Cumulative effect of a change
 in accounting .20 -- -- --
 Net income (loss) (.57) .23 (.07) .49
 Number of shares used in
 computation 4,798,863 4,790,381 4,802,026 4,790,381
 Summary of Results of Operations by Segment
 (Dollars in thousands)
 Fiscal Year Fourth Quarter
 10/29/93 10/30/92 10/29/93 10/30/92
 Revenues:
 Technical services and
 temporary personnel $341,605 $321,387 $94,803 $85,179
 Electronic publication and
 typesetting systems 59,340 57,486 18,693 18,158
 Telephone directory(C) 78,944 70,995 26,700 26,954
 Engineering & construction 47,473 36,308 14,531 10,818
 Computer systems 37,581 38,824 8,744 8,489
 Equity in net income of
 joint ventures(A) 4,940 6,807 520 288
 Interest and other income,
 net(B) 2,125 3,074 (162) 454
 Elimination of intersegment
 revenues (6,835) (4,314) (1,861) (1,513)
 Total 565,173 530,567 161,968 148,827
 Income (loss) before income
 taxes and cumulative effect
 of a change in accounting:
 Operating profit (loss):
 Technical services and
 temporary personnel(C) 7,360 5,955 2,724 2,624
 Electronic publication and
 typesetting systems 2,040 1,054 1,856 1,707
 Telephone directory (C) 8,153 6,544 5,970 3,827
 Engineering & construction (1,128) (2,885) (85) (598)
 Computer systems(C) (8,549) 2,043 (6,167) 148
 Eliminations (310) (346) 58 (126)
 Total operating profit 7,566 12,365 4,356 7,582
 Equity in net income of joint
 ventures(A) 4,940 6,807 520 288
 Interest and other income,
 net(B) 2,125 3,074 (162) 454
 General corporate expenses (8,769) (9,031) (2,200) (2,160)
 Interest expense (11,078) (11,569) (2,929) (2,860)
 Foreign exchange gain
 (loss) - net (378) 129 (216) (45)
 Income (loss) before income
 taxes and cumulative effect
 of a change in accounting (5,594) 1,775 (631) 3,259
 (A) -- The results of fiscal 1993 and 1992 include the company's share of profits from its Australian joint venture which exceeded its 12-1/2 percent ownership by $740,000 (10 cents per share) in 1993 and $1,594,000 (22 cents per share) in 1992 under an arrangement which ended April 30, 1993.
 (B) -- In October 1993, the company entered into a three-year revolving financing agreement under which it sold a $25 million undivided interest in a designated pool of certain eligible accounts receivable. A charge of $849,000 (11 cents per share) was incurred in the fourth quarter of fiscal 1993 for expenses related to the sale, including legal, professional and bank fees. Proceeds from the sale were used to prepay a portion of a mortgage obligation ($3 million) in October 1993 and to redeem in November 1993 a portion ($20 million) of the company's 12-3/8 percent senior subordinated debentures due July 1, 1998.
 (C) -- The results of operations for 1993 include a charge of $4,300,000 (58 cents per share) in the fourth quarter and $6,400,000 (87 cents per share) for the year for anticipated cost overruns on its computer system segment's two initial contracts for its directory assistance systems.
 The results 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) and a fourth quarter cost of $722,000 (10 cents per share) relating to a portion of a facility no longer being utilized which reduced the operating profit of the telephone directory segment.
 (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- 1/6/93
 /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

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