Volt Information Sciences Inc. (VOLT) stock had advanced by 3.94% to trade at the price of $4.75 in the after-hours trading session at the last check. VOLT stock previously closed the session, gaining 5.30% at $4.57. The VOLT stock volume traded 0.55 million shares. In the past week, VOLT shares have risen by 9.07%. In the past three and six months, the VOLT stock has gained 30.95% and 148.37%. Furthermore, Volt Information Sciences Inc. is currently valued in the market at $98.62 million and has 21.79 million outstanding shares.
What we know about Volt Information Sciences
Volt Information Sciences, Inc. is a staffing and employment service providing company that specifically focuses on round-the-clock/traditional time, project-based, mixed-shift, and materials-based staffing services. The company provides its services in Europe, the USA, Asia Pacific, and Canada. The company segmented its staffing operations and services into three; North American MSP, International staffing, and North American staffing. Apart from the staffing services, it provides employment management services that manage procurements, on-boarding, and customized solutions like a consultation for managing and sourcing recruiters and suppliers, SOPs, and JD statement of work management. The company also provides performance measurement standards to companies and business entities which include benchmarking demographics and employee/supplier performance metric and procurement of cost efficient employees.
The company also outsources services like call-center and payroll services as well as salary-payment management services. In other roles, it acts as a subcontractor providing the logistic supplies and HR processes. The client base of the company includes where it serves worldwide, public, and neighborhood clients in different businesses, including aviation, car, banking and money, customer gadgets, data innovation, protection, life science, fabricating, media and diversion, drug, programming, telecom, transportation, and utilities. The organization was established in 1950 and is settled in Orange, California.
Volt Information International has shown a significant year-over-year improvement in the fiscal second quarter 2021
The company reported a significant uplift in its financial and operational performance based on year-o-year comparison despite the COVID19 and extreme weather conditions. The opening of the economy and return to normalcy has activated the job searches and recruitments in the market. This proved beneficial for VOLT stock due to its staffing services provision that helped play a role in providing job opportunities. The financial benefits can be seen in the second quarter fiscal 2021 financial results.
The adjusted revenue of the VOLT stock increased by 5.9% to $222.1 million compared to the fiscal year 2020’s second quarter. The Adjusted EBITDA increased to $7.4 million from $6.0 million in the previous year same period. The gross margin for year-over-year comparison had increased by 80 points basis, improving by 16.4%. GAAP EPS was $0.08 per diluted share which was a boost from a loss of $0.25 per share in the second quarter of monetary 2020.
North American Staffing income for the quarter was $184.3 million when contrasted with $173.4 million for the second quarter of financial 2020. Worldwide Staffing income for the quarter was $27.9 million, contrasted with $24.3 million in the earlier year quarter. North American MSP income for the subsequent quarter was $9.8 million, contrasted with $9.7 million in the earlier year quarter.
