Market Overview

Volt Information Sciences Announces Review of Strategic Alternatives

Share:

Volt Information Sciences, Inc. ("Volt" or "the Company")
(NYSE-AMERICAN: VISI)
announces today that the Company is fully
engaged in a process to evaluate potential strategic alternatives to
maximize shareholder value. Such strategic alternatives could include a
sale of the Company or a sale of a division or divisions thereof, a
strategic merger, a business combination or continuing as a standalone
company executing on its business plan. The Company has engaged Houlihan
Lokey Capital, Inc. as financial advisor and Milbank, Tweed, Hadley &
McCloy LLP as legal advisor to assist in its review.

Dana Messina, Chairman of the Board, said, "We remain confident in our
ability to execute on our business plan and in the growth opportunities
available to us. At the same time, the Board believes it is in the best
interest of shareholders to conduct a thorough evaluation of strategic
opportunities that could accelerate value recognition or unlock
additional value."

The Board and the Company have not set a definitive timetable for
completion of their review of strategic alternatives, nor has any
decision related to any particular strategic alternative been made, and
there can be no assurance that the process will result in any
transaction being announced or completed in the future. The Company does
not intend to make any further announcements related to its review
unless and until its Board of Directors has approved a specific
transaction or otherwise determined that further disclosure is
appropriate. As always, the Company will continue to dedicate its
resources to generating business, delivering superior customer service
and supporting the development of our employees.

About Volt Information Sciences, Inc.

Volt Information Sciences, Inc. is a global provider of staffing
services (traditional time and materials-based as well as
project-based). Our staffing services consists of workforce solutions
that include providing contingent workers, personnel recruitment
services, and managed staffing services programs supporting primarily
administrative, technical, information technology, light-industrial and
engineering positions. Our managed staffing programs involves managing
the procurement and on-boarding of contingent workers from multiple
providers. Our customer care solutions specializes in serving as an
extension of our customers' consumer relationships and processes
including collaborating with customers, from help desk inquiries to
advanced technical support. Our complementary businesses offer customer
care call centers, customized talent, and supplier management solutions
to a diverse client base. Volt services global industries including
aerospace, automotive, banking and finance, consumer electronics,
information technology, insurance, life sciences, manufacturing, media
and entertainment, pharmaceutical, software, telecommunications,
transportation, and utilities. For more information, visit www.volt.com.

Forward-Looking Statements

This press release contains forward-looking statements that are subject
to a number of known and unknown risks, including, among others, the
outcome of the Company's strategic alternatives process, the outcome of
the Company's turnaround plan, general economic, competitive and other
business conditions, the degree and timing of customer utilization and
rate of renewals of contracts with the Company, and the degree of
success of business improvement initiatives that could cause actual
results, performance and achievements to differ materially from those
described or implied in the forward-looking statements. Information
concerning these and other factors that could cause actual results to
differ materially from those in the forward-looking statements are
contained in company reports filed with the Securities and Exchange
Commission. Copies of the Company's latest Annual Report on Form 10-K
and subsequent Quarterly Reports on Form 10-Q, as filed with the
Securities and Exchange Commission, are available without charge upon
request to Volt Information Sciences, Inc., 1133 Avenue of the Americas,
New York, New York 10036, Attention: Shareholder Relations. These and
other SEC filings by the Company are also available to the public over
the Internet at the SEC's website at www.sec.gov
and at the Company's website at www.volt.com
in the Investors section.

View Comments and Join the Discussion!