Volt Information Sciences soars on 70% Q4 profit surge
Volt Information Sciences, Inc. (NYSE: VOL) shares are climbing after the staffing services provider announced that its fourth-quarter net income soared 70% to $23.1 million, or $1.03 per share, from $13.6 million, or $0.57 per share, a year earlier. The quarterly results beat analyst estimates of earning $0.48 per share.
For the three months ended Oct. 28, Volt’s net sales rose 3% to $625.6 million, from $610.2 million during the same period of 2006. Analysts polled by Thomson Financial projected $631 million in quarterly sales.
In recent trading, VOL shares are up 25.67%, or $3.47, at $16.99. Over the last 52 weeks, shares have ranged from $12.05 to $42.93.
About the Author
Reporter Will Atkinson is based in SmallCapInvestor.com's Washington, D.C. bureau.
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