Volt Information Sciences, Inc.
1133 Avenue of the Americas
New York, NY 10036
|
March 21, 2017
|
Re: |
Volt Information Sciences, Inc.
Form 10-K for Fiscal Year Ended October 30, 2016 Filed January 12, 2017 Form 8-K filed March 8, 2017 File No. 1-9232 |
Volt Information Sciences, Inc.
1133 Avenue of the Americas
New York, NY 10036
|
GAAP to Non-GAAP Reconciliations
|
||||||||||
(in thousands)
|
||||||||||
Three Months Ended
|
||||||||||
January 29, 2017
|
January 31, 2016
|
|||||||||
Reconciliation of GAAP net loss to Non-GAAP net loss:
|
||||||||||
GAAP net loss
|
$
|
(4,577
|
)
|
|
$
|
(10,962
|
)
|
|||
Selling, administrative and other operating costs
|
(486
|
)
|
(a)
|
552
|
(c)
|
|||||
Restructuring and severance costs
|
624
|
(b)
|
2,761
|
(b)
|
||||||
Non-GAAP net loss
|
$
|
(4,439
|
)
|
|
$
|
(7,649
|
)
|
|||
Three Months Ended
|
||||||||||
January 29, 2017
|
January 31, 2016
|
|||||||||
Reconciliation of GAAP net loss to Adjusted EBITDA:
|
||||||||||
GAAP net loss
|
$
|
(4,577
|
)
|
|
$
|
(10,962
|
)
|
|||
Selling, administrative and other operating costs
|
(486
|
)
|
(a)
|
552
|
(c)
|
|||||
Restructuring and severance costs
|
624
|
(b)
|
2,761
|
(b)
|
||||||
Depreciation and amortization
|
1,379
|
1,538
|
||||||||
Share-based compensation expense
|
615
|
|
187
|
|||||||
Other (income) loss, net (d)
|
1,330
|
593
|
||||||||
Provision for income taxes
|
623
|
|
553
|
|||||||
Adjusted EBITDA
|
$
|
(492
|
)
|
$
|
(4,778
|
)
|
Sincerely,
|
||
/s/ Paul Tomkins | ||
Paul Tomkins, Senior Vice President
|
||
and Chief Financial Officer
|
Cc: |
Lenny Naujokas, Interim Controller and Chief Accounting Officer
Nancy Avedissian, General Counsel Stephen Giove, Shearman & Sterling LLP |