-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, ECE0Sx3WqwuLFKY26QaQ1NwBs8/4SVs1cFdAVyeRyg4xX/b3Jnmark8x4xtV4T1Q FS3RSbl3yM3CAnjS4ps0Ag== 0000910680-98-000180.txt : 19980420 0000910680-98-000180.hdr.sgml : 19980420 ACCESSION NUMBER: 0000910680-98-000180 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19980415 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 19980417 SROS: NASD FILER: COMPANY DATA: COMPANY CONFORMED NAME: VOLT INFORMATION SCIENCES INC CENTRAL INDEX KEY: 0000103872 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-HELP SUPPLY SERVICES [7363] IRS NUMBER: 135658129 STATE OF INCORPORATION: NY FISCAL YEAR END: 1031 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 001-09232 FILM NUMBER: 98595989 BUSINESS ADDRESS: STREET 1: 1221 AVENUE OF THE AMERICAS CITY: NEW YORK STATE: NY ZIP: 10020 BUSINESS PHONE: 2127042400 MAIL ADDRESS: STREET 1: 1221 AVENUE OF THE AMERICAS CITY: NEW YORK STATE: NY ZIP: 10020 FORMER COMPANY: FORMER CONFORMED NAME: VOLT TECHNICAL CORP DATE OF NAME CHANGE: 19680913 8-K 1 DATE OF REPORT: APRIL 15, 1998 SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K Current Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event reported): April 15, 1998 VOLT INFORMATION SCIENCES, INC. (Exact Name of Registrant as Specified in Its Charter) New York 1-9232 13-5658129 - ---------------------------- ----------- ---------------- (State or Other Jurisdiction (Commission (I.R.S. Employer of Incorporation) File Number) Identification No.) 1221 Avenue of the Americas, New York, New York 10020 - ----------------------------------------------- ----- (Address of Principal Executive Offices) (Zip Code) (212) 704-2400 ---------------------------------------------------- (Registrant's Telephone Number, Including Area Code) Not Applicable ------------------------------------------------------------------ (Former Name or Former Address, if Changed Since Last Report) Item 5. Other Events. On April 15, 1998, the Company issued a press release reporting that the Company's second quarter financial results would not meet the Company's expectations. A copy of the press release is attached to this Form 8-K as Exhibit 99.01. Item 7. Financial Statements, Pro Forma Financial Information and Exhibits. (a) Financial statements of business acquired: Not applicable. (b) Pro forma financial information: Not applicable. (c) Exhibits: 99.01 Volt Information Sciences, Inc. Press Release dated April 15, 1998. S I G N A T U R E Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. VOLT INFORMATION SCIENCES, INC. Date: April 16, 1998 By: /s/ James J. Groberg --------------------------- James J. Groberg, Senior Vice President -2- EXHIBIT INDEX Exhibit Number Description - ------ ----------- 99.01 Volt Information Sciences, Inc. Press Release dated April 15, 1998. -3- EX-99 2 EX.99.01 - PRESS RELEASE 4/15/98 FOR IMMEDIATE RELEASE CONTACTS: James Groberg Stacy Lipschitz Senior Vice President Ruder Finn, Inc. (212) 704-2480 (212) 583-2757 jgroberg@volt.com lipschitzs@ruderfinn.com VOLT INFORMATION SCIENCES, INC. SAYS SECOND QUARTER RESULTS WILL NOT MEET COMPANY'S EXPECTATIONS NEW YORK, NY, April 15, 1998 -- Volt Information Sciences, Inc. (NYSE: VOL), announced today that results for the second quarter would not meet the company's expectations and would be significantly lower than the comparable 1997 period. William Shaw, president of Volt, said that "While overall top line growth continues favorably, it is difficult to predict whether or not the year end results will exceed last years'." Volt expects to announce earnings for the second quarter ending April 30, 1998 in the last week of May or the first week of June. Mr. Shaw stated that a series of factors affecting several segments of the Company will result in the lower second quarter results. Continued acquisitions of national contracts by the Staffing Services segment has resulted in significantly higher overhead costs, including the opening of new offices to service those accounts prior to the build-up of revenue, and has prevented an expected increase in operating earnings for that segment in the quarter. In addition, the Staffing Services segment has seen a softening of the commercial staffing business from some of its major customers, resulting partly from the Asian economic crisis, and has incurred higher costs of recruiting because of the low U.S. unemployment rate. Mr. Shaw also stated that "the results of the Telecommunications Services segment for the quarter were affected by the severe storms caused by El Nino, as well as a slowdown in a major telecommunications project by one of the segment's largest customers." He also noted that certain revenue that was expected by several of Volt's other telecommunications divisions has been delayed to later quarters. Volt Information Sciences, Inc. operates a technical services and temporary staffing business, provides varied services to the telecommunications industry, and furnishes electronic prepress equipment and services to the print media industry. This report contains forward-looking statements which, in addition to assuming a continuation of the degree and timing of customer utilization and rate of renewals of contracts with the Company at historical levels, are subject to a number of known and unknown risks that, in addition to general economic competitive and other business conditions, could cause actual results, performance and achievements to differ materially from those described or implied in the forward-looking statements. Additional information concerning the factors that could cause actual results to differ materially from those in the forward-looking statements is contained in Company reports filed with the Securities and Exchange Commission, such as the Company's Annual Report on Form 10-K for the fiscal year ended October 31, 1997 and Quarterly Report on Form 10-Q, which may be updated and supplemented in future SEC filings. -----END PRIVACY-ENHANCED MESSAGE-----