Volt Information Sciences (VOLT) 10-Q 10 Mar 16 2016 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Jan. 31, 2016	Mar. 04, 2016
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jan. 31, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q1
Trading Symbol	VISI
Entity Registrant Name	VOLT INFORMATION SCIENCES, INC.
Entity Central Index Key	103,872
Current Fiscal Year End Date	--10-30
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		20,830,503

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Jan. 31, 2016	Feb. 01, 2015
REVENUE:
Staffing services revenue	$ 308,681	$ 360,821
Other revenue	18,149	22,245
NET REVENUE	326,830	383,066
EXPENSES:
Direct cost of staffing services revenue	264,172	309,518
Cost of other revenue	16,788	19,605
Selling, administrative and other operating costs	52,925	60,290
Restructuring and severance costs	2,761	975
TOTAL EXPENSES	336,646	390,388
OPERATING LOSS	(9,816)	(7,322)
OTHER INCOME (EXPENSE), NET:
Interest income (expense), net	(658)	(634)
Foreign exchange gain (loss), net	344	437
Other income (expense), net	(279)	98
TOTAL OTHER INCOME (EXPENSE), NET	(593)	(99)
LOSS FROM CONTINUING OPERATIONS BEFORE INCOME TAXES	(10,409)	(7,421)
Income tax provision	553	1,379
LOSS FROM CONTINUING OPERATIONS	(10,962)	(8,800)
DISCONTINUED OPERATIONS
Loss from discontinued operations net of income taxes (including loss on disposal of $1.2 million)	0	(4,519)
NET LOSS	$ (10,962)	$ (13,319)
Basic:
Loss from continuing operations (usd per share)	$ (0.53)	$ (0.42)
Loss from discontinued operations (usd per share)	0	(0.22)
Net loss (usd per share)	$ (0.53)	$ (0.64)
Weighted average number of shares - basic (shares)	20,813	20,930
Diluted:
Loss from continuing operations (usd per share)	$ (0.53)	$ (0.42)
Loss from discontinued operations (usd per share)	0	(0.22)
Net loss (usd per share)	$ (0.53)	$ (0.64)
Weighted average number of shares - diluted (shares)	20,813	20,930

Condensed Consolidated Stateme3

Condensed Consolidated Statements of Operations (Parentheticals) $ in Millions	3 Months Ended
	Jan. 31, 2016USD ($)
Income Statement [Abstract]
Loss on disposal	$ 1.2

Condensed Consolidated Stateme4

Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended
	Jan. 31, 2016	Feb. 01, 2015
Statement of Comprehensive Income [Abstract]
NET LOSS	$ (10,962)	$ (13,319)
Other comprehensive income (loss):
Foreign currency translation adjustments, net of taxes of $0 and $0, respectively	(2,515)	(1,149)
Unrealized gain on marketable securities, net of taxes of $0 and $0, respectively	0	4
Total other comprehensive loss	(2,515)	(1,145)
COMPREHENSIVE LOSS	$ (13,477)	$ (14,464)

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Comprehensive Income (Loss) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Jan. 31, 2016	Feb. 01, 2015
Statement of Comprehensive Income [Abstract]
Foreign currency translation adjustments, taxes	$ 0	$ 0
Unrealized gains (loss) on marketable securities, taxes	$ 0	$ 0

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jan. 31, 2016	Nov. 01, 2015
CURRENT ASSETS:
Cash and cash equivalents	$ 16,515	$ 10,188
Restricted cash and short-term investments	16,630	14,977
Trade accounts receivable, net of allowances of $785 and $960, respectively	170,150	198,385
Recoverable income taxes	17,771	17,583
Prepaid insurance and other current assets	16,229	15,865
Assets held for sale	21,395	22,943
TOTAL CURRENT ASSETS	258,690	279,941
Other assets, excluding current portion	23,600	22,790
Property, equipment and software, net	26,338	24,095
TOTAL ASSETS	308,628	326,826
CURRENT LIABILITIES:
Accrued compensation	29,055	29,548
Accounts payable	35,126	39,164
Accrued taxes other than income taxes	25,109	22,719
Accrued insurance and other	33,938	34,391
Short-term borrowings, including current portion of long-term debt	101,009	982
Income taxes payable	0	1,658
Liabilities held for sale	6,672	7,345
TOTAL CURRENT LIABILITIES	230,909	135,807
Accrued insurance and other, excluding current portion	10,486	10,474
Income taxes payable, excluding current portion	6,573	6,516
Deferred income taxes	3,490	3,225
Long-term debt, excluding current portion	5,968	106,313
TOTAL LIABILITIES	$ 257,426	$ 262,335
Commitments and contingencies
STOCKHOLDERS' EQUITY:
Preferred stock, par value $1.00; Authorized - 500,000 shares; Issued - none	$ 0	$ 0
Common stock, par value $0.10; Authorized - 120,000,000 shares; Issued - 23,738,003 and 23,738,003, respectively; Outstanding - 20,830,457 and 20,801,080, respectively	2,374	2,374
Paid-in capital	75,600	75,803
Retained earnings	26,423	38,034
Accumulated other comprehensive loss	(10,509)	(7,994)
Treasury stock, at cost; 2,907,546 and 2,936,923 shares, respectively	(42,686)	(43,726)
TOTAL STOCKHOLDERS' EQUITY	51,202	64,491
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 308,628	$ 326,826

Condensed Consolidated Balance7

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jan. 31, 2016	Nov. 01, 2015
Statement of Financial Position [Abstract]
Trade accounts receivable, allowances	$ 785	$ 960
Preferred stock, par value (usd per share)	$ 1	$ 1
Preferred stock, shares authorized	500,000	500,000
Preferred stock, shares issued	0	0
Common stock, par value (usd per share)	$ 0.10	$ 0.10
Common stock, shares authorized	120,000,000	120,000,000
Common stock, shares issued	23,738,003	23,738,003
Common stock, shares outstanding	20,830,457	20,801,080
Treasury stock, shares	2,907,546	2,936,923

Condensed Consolidated Stateme8

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Jan. 31, 2016	Feb. 01, 2015
CASH FLOWS FROM OPERATING ACTIVITIES:
NET LOSS	$ (10,962)	$ (13,319)
Loss from discontinued operations, net of income taxes	0	(4,519)
Loss from continuing operations	(10,962)	(8,800)
Adjustment to reconcile net loss to cash provided by operating activities:
Depreciation and amortization	1,538	1,771
Provision (release) of doubtful accounts and sales allowances	(174)	132
Unrealized foreign currency exchange gain	(428)	(915)
Gain on dispositions of business units and equipment	138	(118)
Deferred income tax provision (benefit)	0	(79)
Share-based compensation expense	187	476
Accretion of convertible note discount	(65)	0
Change in operating assets and liabilities:
Trade accounts receivable	28,463	31,308
Restricted cash	(2,577)	4,313
Prepaid insurance and other assets	(1,022)	338
Net assets held for sale	615	3,755
Accounts payable	(4,136)	(7,659)
Accrued expenses and other liabilities	2,802	(4,867)
Income taxes	(1,776)	(20)
Net cash provided by operating activities	12,603	19,635
CASH FLOWS FROM INVESTING ACTIVITIES:
Sales of investments	581	569
Purchases of investments	(237)	(238)
Proceeds from sale of business unit and equipment	363	131
Purchases of property, equipment, and software	(3,887)	(1,234)
Net cash used in investing activities	(3,180)	(772)
CASH FLOWS FROM FINANCING ACTIVITES:
Decrease in cash restricted as collateral for borrowings	0	9,123
Repayment of borrowings	0	(23,506)
Draw-down on borrowings	0	10,000
Repayment of long-term debt	(318)	(147)
Debt issuance costs	(358)	(232)
Proceeds from exercise of options	9	0
Withholding tax payment on vesting of restricted stock awards	(116)	0
Net cash used in financing activities	(783)	(4,762)
Effect of exchange rate changes on cash and cash equivalents	(2,313)	402
CASH FLOWS FROM DISCONTINUED OPERATIONS:
Cash flow from operating activities	0	(3,237)
Cash flow from investing activities	0	(4,000)
Net cash used in discontinued operations	0	(7,237)
Net increase in cash and cash equivalents	6,327	7,266
Cash and cash equivalents, beginning of period	10,188	6,723
Change in cash from discontinued operations	0	(211)
Cash and cash equivalents, end of period	16,515	13,778
Cash paid during the period:
Interest	782	644
Income taxes	2,112	329
Supplemental disclosure of non-cash investing and financing activities:
Note receivable in exchange for Computer Systems segment net assets sold	$ 0	$ 8,363

Basis of Presentation

Basis of Presentation	3 Months Ended
	Jan. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation Basis of Presentation The accompanying interim condensed consolidated financial statements of Volt Information Sciences, Inc. ("Volt" or the "Company") have been prepared in conformity with generally accepted accounting principles, consistent in all material respects with those applied in the Annual Report on Form 10-K for the year ended November 1, 2015. The Company makes estimates and assumptions that affect the amounts reported. Actual results could differ from those estimates and changes in estimates are reflected in the period in which they become known. Accounting for certain expenses, including income taxes, are based on full year assumptions, and the financial statements reflect all normal adjustments that, in the opinion of management, are necessary for fair presentation of the interim periods presented. The interim information is unaudited and is prepared pursuant to the rules and regulations of the United States Securities and Exchange Commission (the "SEC"), which provides for omission of certain information and footnote disclosures. This interim financial information should be read in conjunction with the consolidated financial statements in the Company's Annual Report on Form 10-K for the year ended November 1, 2015. Certain reclassifications have been made to the prior year financial statements in order to conform to the current year's presentation.

Recently Issued Accounting Pron

Recently Issued Accounting Pronouncements	3 Months Ended
	Jan. 31, 2016
Accounting Changes and Error Corrections [Abstract]
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements From time to time, new accounting pronouncements are issued by the Financial Accounting Standards Board ("FASB") or other standard setting bodies. Unless otherwise discussed, the Company believes that the adoption of recently issued standards that are not yet effective will not have a material impact on its consolidated financial position or results of operations upon adoption. In February 2016, the FASB issued Accounting Standards Update (“ASU”) 2016-02, Leases (Topic 842) . This ASU requires that lessees recognize assets and liabilities for leases with lease terms greater than twelve months in the statement of financial position and also requires improved disclosures to help users of financial statements better understand the amount, timing and uncertainty of cash flows arising from leases. This update is effective for fiscal years beginning after December 15, 2018, including interim reporting periods within those fiscal years. Early adoption is permitted. In January 2016, the FASB issued ASU 2016-01, Financial Instruments - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities . This ASU amends certain aspects of recognition, measurement, presentation and disclosure of financial instruments, including the requirement to measure certain equity investments at fair value with changes in fair value recognized in net income. Some of the other provisions include eliminating certain disclosure requirements related to financial instruments measured at amortized cost and adding disclosures related to the measurement categories of financial assets and financial liabilities. This ASU is effective for public entities with fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. The Company is currently assessing the impact that the adoption of this standard will have on its consolidated financial statements and related disclosures upon implementation. In August 2015, the FASB issued ASU 2015-15, Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements . ASU 2015-15 clarifies the guidance in ASU 2015-03 regarding presentation and subsequent measurement of debt issuance costs related to line-of-credit arrangements. The SEC Staff announced they would not object to an entity deferring and presenting debt issuance costs as an asset and subsequently amortizing the deferred debt issuance costs ratably over the term of the line-of-credit arrangement, regardless of whether there are any outstanding borrowings on the line-of-credit arrangement. In April 2015, the FASB issued ASU No. 2015-03 , Simplifying the Presentation of Debt Issuance Costs. The ASU requires that debt issuance costs related to a recognized liability be presented on the balance sheet as a direct reduction from the carrying amount of that debt liability, consistent with debt discounts. The recognition and measurement guidance for debt issuance costs are not affected. This ASU is effective for reporting periods beginning after December 15, 2015. In August 2014, the FASB issued ASU 2014-15, Presentation of Financial Statements - Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern. This update provides guidance about management’s responsibility to evaluate whether there is substantial doubt about an entity’s ability to continue as a going concern. Specifically, the amendments (1) provide a definition of the term substantial doubt, (2) require an evaluation every reporting period including interim periods, (3) provide principles for considering the mitigating effect of management’s plans, (4) require certain disclosures when substantial doubt is alleviated as a result of consideration of management’s plans, (5) require an express statement and other disclosures when substantial doubt is not alleviated, and (6) require an assessment for a period of one year after the date that the financial statements are issued (or available to be issued). This ASU is effective for the annual period ending after December 15, 2016, with early adoption permitted. In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606) . The core principle of this amendment is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods and services. This standard is effective for fiscal years and interim reporting periods beginning after December 15, 2016. In August 2015, the FASB issued ASU 2015-14, Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date. The amendments in this update deferred the effective date for implementation of ASU 2014-09 by one year and is now effective for annual reporting periods beginning after December 15, 2017. Early application is permitted only as of annual reporting periods beginning after December 15, 2016 including interim reporting periods within that period. The Company is currently assessing the impact that the adoption of this standard will have on its consolidated financial statements and related disclosures upon implementation in the first quarter of fiscal 2019. Management has evaluated other recently issued accounting pronouncements and does not believe that any of these pronouncements will have a significant impact on our consolidated financial statements and related disclosures. Recently Adopted Accounting Standards In November 2015, the FASB issued Accounting Standards Update ASU 2015-17, Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes . The amendments in this update simplify the presentation of deferred income taxes and require that deferred tax liabilities and assets be classified as non-current in a classified statement of financial position. T he Company has early adopted ASU 2015-17 prospectively beginning in the first quarter of fiscal 2016. Other than the revised balance sheet presentation of deferred taxes from current to non-current, the adoption of this ASU did not have a material impact to our consolidated financial statements.

Discontinued Operations

Discontinued Operations	3 Months Ended
	Jan. 31, 2016
Discontinued Operations and Disposal Groups [Abstract]
Discontinued Operations	Discontinued Operations On December 1, 2014, the Company completed the sale of its Computer Systems segment to NewNet Communication Technologies, LLC ("NewNet"), a Skyview Capital, LLC, portfolio company. The results of the Computer Systems segment are presented as discontinued operations and excluded from continuing operations and from segment results for all periods presented. The proceeds of the transaction are a $10.0 million note bearing interest at one half percent ( 0.5 percent) per year due in four years and convertible into a capital interest of up to 20% in NewNet. The Company may convert the note at any time and is entitled to receive early repayment in the event of certain events such as a change in control of NewNet. The proceeds are in exchange for the ownership of Volt Delta Resources, LLC and its operating subsidiaries, which comprise the Company's Computer Systems segment, and payment of $4.0 million by the Company during the first 45 days following the transaction. An additional payment will be made between the parties based on the comparison of the actual transaction date working capital amount to an expected working capital amount of $6.0 million (the contractually agreed upon working capital). The note was valued at $8.4 million which approximated its fair value. The resulting discount will be amortized over four years with an effective interest rate of 5.1% . As of January 31, 2016, the unamortized discount for the note was $1.1 million and the interest income resulting from the amortization for the three months ended January 31, 2016 and February 1, 2015 was $0.1 million in both periods. For the three months ended February 1, 2015, the Company recognized a loss on disposal of $1.2 million from the sale transaction. The total related costs associated with this transaction were $2.2 million comprised of $0.9 million in severance costs, $0.9 million of professional fees and $0.4 million of lease obligation costs. These costs are recorded in Discontinued operations in the Condensed Consolidated Statements of Operations. As of January 31, 2016, $2.0 million has been paid and $0.2 million remains payable and is included in Accrued insurance and other in the Condensed Consolidated Balance Sheets. The following table reconciles the major line items in the Condensed Consolidated Statements of Operations for discontinued operations (in thousands): Three Months Ended February 1, 2015 Loss on discontinued operations Net revenue $ 4,708 Cost of revenue (5,730 ) Selling, administrative and other operating costs (1,388 ) Restructuring and other related costs (1,709 ) Other income (expense), net 978 Loss from discontinued operations (3,141 ) Loss on disposal of discontinued operations (1,187 ) Total loss from discontinued operations (4,328 ) Income tax provision 191 Total loss from discontinued operations that is presented in the Condensed Consolidated Statements of Operations $ (4,519 )

Assets and Liabilities Held for

Assets and Liabilities Held for Sale	3 Months Ended
	Jan. 31, 2016
Discontinued Operations and Disposal Groups [Abstract]
Assets and Liabilities Held for Sale	Assets and Liabilities Held for Sale In October 2015, the Company's Board of Directors approved a plan to sell the Company’s information technology infrastructure services business (“Maintech”) and staffing services business in Uruguay ("Lakyfor, S.A."). Maintech met all of the criteria to classify its assets and liabilities as held for sale in the fourth quarter of fiscal 2015. The potential disposal of Maintech did not represent a strategic shift that will have a major effect on the Company’s operations and financial results and is, therefore, not classified as discontinued operations in accordance with ASU 2014-08, Presentation of Financial Statements (Topic 205) and Property, Plant and Equipment (Topic 360) , ("ASU 2014-08"). As part of the required evaluation under the held for sale guidance, the Company determined that the approximate fair value less costs to sell the operations exceeded the carrying value of the net assets and no impairment charge was recorded. If a transaction proceeds, the Company would expect to complete the transaction by the end of the second quarter or sometime in the third quarter of fiscal 2016. Lakyfor, S.A. met all of the criteria to classify its assets and liabilities as held for sale during the fourth quarter of fiscal 2015. The disposal of Lakyfor, S.A. did not represent a strategic shift that would have a major effect on the Company’s operations and financial results and was, therefore, not classified as discontinued operations in accordance with ASU 2014-08. As part of the required evaluation under the held for sale guidance, the Company determined that the approximate fair value less costs to sell the operations was significantly lower than the carrying value of the net assets and an impairment charge of $0.7 million was recorded in the fourth quarter of fiscal 2015. The sale occurred in December 2015 for nominal proceeds. For the three months ended January 31, 2016, the Company recognized a loss on disposal of $0.1 million from the sale transaction. The following table reconciles the major classes of assets and liabilities classified as held for sale as part of continuing operations in the Condensed Consolidated Balance Sheets (in thousands): January 31, 2016 November 1, 2015 Assets included as part of continuing operations Cash and cash equivalents $ 1,153 $ 1,537 Trade accounts receivable, net 15,149 15,671 Recoverable income taxes 23 165 Prepaid insurance and other assets 4,411 4,886 Property, equipment and software, net 164 189 Purchased intangible assets 495 495 Total major classes of assets as part of continuing operations - Maintech and Lakyfor, S.A. (1) $ 21,395 $ 22,943 Liabilities included as part of continuing operations Accrued compensation $ 2,561 $ 3,509 Accounts payable 1,290 1,387 Accrued taxes other than income taxes 1,034 1,165 Accrued insurance and other 597 523 Deferred revenue 1,190 761 Total major classes of liabilities as part of continuing operations - Maintech and Lakyfor, S.A. (1) $ 6,672 $ 7,345 (1) The Balance Sheet as of January 31, 2016 only includes Maintech.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	3 Months Ended
	Jan. 31, 2016
Equity [Abstract]
Accumulated Other Comprehensive Loss	Accumulated Other Comprehensive Loss The changes in accumulated other comprehensive loss for the three months ended January 31, 2016 were (in thousands): Foreign Currency Translation Unrealized Gain (Loss) on Marketable Securities Accumulated other comprehensive loss at November 1, 2015 $ (7,971 ) $ (23 ) Other comprehensive loss before reclassifications (2,515 ) — Accumulated other comprehensive loss at January 31, 2016 $ (10,486 ) $ (23 ) Reclassifications from accumulated other comprehensive loss for the three months ended January 31, 2016 were (in thousands): Three Months Ended January 31, 2016 February 1, 2015 Foreign currency translation Sale of foreign subsidiaries $ — $ (3,181 ) Total reclassifications, net of tax $ — $ (3,181 ) Details about Accumulated Other Comprehensive Loss Components for the three months ended February 1, 2015 Amount Reclassified from Accumulated Other Comprehensive Loss Affected Line Item in the Statement Where Net Loss is Presented Foreign currency translation Sale of foreign subsidiaries $ 3,181 Discontinued operations

Restricted Cash and Short-Term

Restricted Cash and Short-Term Investments	3 Months Ended
	Jan. 31, 2016
Cash and Cash Equivalents [Abstract]
Restricted Cash and Short-Term Investments	Restricted Cash and Short-Term Investments Restricted cash primarily includes amounts related to requirements under certain contracts with managed service program customers for whom the Company manages the customers’ contingent staffing requirements, including processing of associate vendor billings into single, combined customer billings and distribution of payments to associate vendors on behalf of customers, as well as minimum cash deposits required to be maintained as collateral. Distribution of payments to associate vendors are generally made shortly after receipt of payment from customers, with undistributed amounts included in restricted cash and accounts payable between receipt and distribution of these amounts. Changes in restricted cash collateral are classified as an operating activity, as this cash is directly related to the operations of this business. At January 31, 2016 and November 1, 2015, restricted cash included $10.8 million and $9.3 million , respectively, restricted for payment to associate vendors and $1.9 million and $0.9 million , respectively, restricted for other collateral accounts. At January 31, 2016 and November 1, 2015, short-term investments were $3.9 million and $4.8 million , respectively. These short-term investments consisted primarily of the fair value of deferred compensation investments corresponding to employees’ selections, primarily in mutual funds, based on quoted prices in active markets.

Income Taxes

Income Taxes	3 Months Ended
	Jan. 31, 2016
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The income tax provision reflects the geographic mix of earnings in various federal, state and foreign tax jurisdictions and their applicable rates resulting in a composite effective tax rate. The Company’s cumulative results for substantially all United States and certain non-United States jurisdictions for the most recent three-year period is a loss. Accordingly, a valuation allowance has been established for substantially all loss carryforwards and other net deferred tax assets for these jurisdictions, resulting in an effective tax rate that is significantly different than the statutory rate. The Company's provision for income taxes primarily includes foreign jurisdictions and state taxes. The provision for income taxes in the first quarter of fiscal 2016 and 2015 was $0.6 million and $1.4 million , respectively. The Company's quarterly provision for income taxes is measured using an estimated annual effective tax rate, adjusted for discrete items that occur within the periods presented. The Company adjusts its effective tax rate for each quarter to be consistent with the estimated annual effective tax rate, consistent with Accounting Standards Codification ("ASC") 270, “ Interim Reporting ,” and ASC 740-270, “ Income Taxes – Intra Period Tax Allocation .” Jurisdictions with a projected loss for the full year where no tax benefit can be recognized are excluded from the calculation of the estimated annual effective tax rate. The Company's future effective tax rates could be affected by earnings being different than anticipated in countries with differing statutory rates, increases in recorded valuation allowances of tax assets, or changes in tax laws.

Debt

Debt	3 Months Ended
	Jan. 31, 2016
Debt Disclosure [Abstract]
Debt	Debt In January 2016, the Company amended its $150.0 million Financing Program with PNC Bank, National Association (“PNC”) to (1) extend the termination date to January 31, 2017; (2) eliminate the interest coverage ratio and modify the liquidity level requirement; (3) reduce the minimum funding threshold, as defined, from 60% to 40% ; and (4) revise pricing from a LIBOR based rate plus 1.75% per the prior agreement, to a LIBOR based rate plus 1.90% on outstanding borrowings, and to increase the facility fee from 0.65% to 0.70% . The Financing Program is secured by receivables from certain Staffing Services businesses in the United States, Europe and Canada that are sold to a wholly-owned, consolidated, bankruptcy remote subsidiary. The bankruptcy remote subsidiary's sole business consists of the purchase of the receivables and subsequent granting of a security interest to PNC under the program, and its assets are available first to satisfy obligations to PNC and are not available to pay creditors of the Company's other legal entities. Borrowing capacity under the Financing Program is directly impacted by the level of accounts receivable. At January 31, 2016, the accounts receivable borrowing base was $148.7 million . As of November 1, 2015, the Financing Program was classified as long-term debt on the Condensed Consolidated Balance Sheets, however, as of the end of the Company's fiscal first quarter 2016, the Financing Program is classified as short-term as the termination date is within twelve months of the Company’s first quarter 2016 balance sheet date. In addition to customary representations, warranties and affirmative and negative covenants, the program is subject to a minimum liquidity covenant which increased under the aforementioned amendment from $20.0 million in cash and cash equivalents and borrowing availability under the Financing Program, to $35.0 million effective January 31, 2016, which increases to $50.0 million effective July 31, 2016. The program is subject to termination under standard events of default including change of control, failure to pay principal or interest, breach of the liquidity covenant, triggering of portfolio ratio limits, or other material adverse events as defined. As of January 31, 2016, the Company was in compliance with all debt covenant requirements. The Financing Program has a feature under which the facility limit can be increased from $150.0 million up to $250.0 million subject to credit approval from PNC. Borrowings are priced based upon a fixed program rate plus the daily adjusted one-month LIBOR index, as defined. The program also contains a revolving credit provision under which proceeds can be drawn for a definitive tranche period of 30, 60, 90 or 180 days priced at the adjusted LIBOR index rate in effect for that period. In addition to United States dollars, drawings can be denominated in Canadian dollars, subject to a Canadian dollar $30.0 million limit, and British Pounds Sterling, subject to a £20.0 million limit. The program also includes a letter of credit sublimit of $50.0 million and minimum borrowing requirements. As of January 31, 2016, there were no foreign currency denominated borrowings, and the letter of credit participation for the Company's casualty insurance program was $25.1 million . At both January 31, 2016 and November 1, 2015, the Company had outstanding borrowing under this program of $100.0 million and bore a weighted average annual interest rate of 2.1% and 1.8% , respectively, which is inclusive of all facility fees. At January 31, 2016, there was $23.6 million available under this program. At January 31, 2016, and November 1, 2015 the Company had $7.0 million and $7.3 million , respectively, of a long-term term loan on the Company's property in Orange, California, of which $1.0 million was current at both period end dates.

Earnings (Loss) Per Share

Earnings (Loss) Per Share	3 Months Ended
	Jan. 31, 2016
Earnings Per Share [Abstract]
Earnings (Loss) Per Share	Earnings (Loss) Per Share Basic and diluted net income (loss) per share is calculated as follows (in thousands, except per share amounts): Three Months Ended January 31, 2016 February 1, 2015 Numerator Loss from continuing operations $ (10,962 ) $ (8,800 ) Loss from discontinued operations, net of income taxes — (4,519 ) Net loss $ (10,962 ) $ (13,319 ) Denominator Basic weighted average number of shares 20,813 20,930 Diluted weighted average number of shares 20,813 20,930 Basic: Loss from continuing operations $ (0.53 ) $ (0.42 ) Loss from discontinued operations, net of income taxes — (0.22 ) Net loss $ (0.53 ) $ (0.64 ) Diluted: Loss from continuing operations $ (0.53 ) $ (0.42 ) Loss from discontinued operations, net of income taxes — (0.22 ) Net loss $ (0.53 ) $ (0.64 ) Options to purchase 945,578 and 762,150 shares of the Company’s common stock were outstanding at January 31, 2016 and February 1, 2015, respectively. Additionally, there were 8,159 and 40,000 unvested restricted shares outstanding at January 31, 2016 and February 1, 2015, respectively. The options and restricted shares were not included in the computation of diluted earnings (loss) per share in the first quarter of fiscal 2016 and 2015 because the effect of their inclusion would have been anti-dilutive as a result of the Company’s net loss position in those periods. Share Repurchase Plan On January 14, 2015, the Board of Directors approved a new 36-month share repurchase program of up to 1,500,000 shares of the Company's common stock to begin on January 19, 2015, replacing a prior program. Such repurchases will be made through open market or private transactions. Share repurchases under the program will be subject to specified parameters and certain price and volume restraints and any repurchased shares will be held in treasury. The exact number and timing of share repurchases will depend upon market conditions and other factors. The Company repurchased 340,800 shares of common stock at an average purchase price of $12.50 per share for an aggregate amount of $4.3 million during fiscal 2015. As of January 31, 2016, the Company had 1,159,200 shares available for repurchase.

Restructuring and Severance Cos

Restructuring and Severance Costs	3 Months Ended
	Jan. 31, 2016
Restructuring and Related Activities [Abstract]
Restructuring and Severance Costs	Restructuring and Severance Costs In November 2015, the Company implemented a cost reduction plan and estimates that it will incur restructuring charges of approximately $3.0 million in fiscal 2016, primarily resulting from a reduction in workforce, facility consolidation and lease termination costs. The Company incurred total restructuring and severance costs of approximately $2.8 million for the three months ended January 31, 2016. The following table presents the restructuring and severance costs for the three months ended January 31, 2016 (in thousands): Staffing Services Other Corporate Total Severance and benefit costs $ 1,353 $ 293 $ 983 $ 2,629 Other 132 — — 132 Total Costs $ 1,485 $ 293 $ 983 $ 2,761 Accrued restructuring and severance costs are included in Accrued compensation and Accrued insurance and other in the Condensed Consolidated Balance Sheets. Activity for the three months ended January 31, 2016 are summarized as follows (in thousands): January 31, 2016 Beginning Balance $ — Charged to expense 2,761 Cash payments (1,459 ) Ending Balance $ 1,302 The remaining charges as of January 31, 2016 for the Staffing Services and Other segments as well as Corporate of $0.7 million , $0.1 million and $0.5 million , respectively, are expected to be paid during fiscal 2016.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Jan. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Legal Proceedings The Company is involved in various claims and legal actions arising in the ordinary course of business. The Company’s loss contingencies not discussed elsewhere consist primarily of claims and legal actions arising in the normal course of business related to contingent worker employment matters in the Staffing Services segment. These matters are at varying stages of investigation, arbitration or adjudication. The Company has accrued for losses on individual matters that are both probable and reasonably estimable. Estimates are based on currently available information and assumptions. Significant judgment is required in both the determination of probability and the determination of whether a matter is reasonably estimable. The Company’s estimates may change and actual expenses could differ in the future as additional information becomes available.

Segment Data

Segment Data	3 Months Ended
	Jan. 31, 2016
Segment Reporting [Abstract]
Segment Data	Segment Data The Company’s operating segments are determined in accordance with the Company’s internal management structure, which is based on operating activities. The Company is currently assessing potential changes to its reportable segments in fiscal 2016 based on the new management organization and the changes anticipated by implementing new business strategies, including the initiatives to exit non-strategic and non-core operations. Segment operating income (loss) is comprised of segment net revenues less direct cost of staffing services revenue or cost of other revenue, selling, administrative and other operating costs and restructuring costs. The Company allocates all operating costs to the segments except for costs not directly relating to operating activities such as corporate-wide general and administrative costs. These costs are not allocated because doing so would not enhance the understanding of segment operating performance and they are not used by management to measure segment performance. Commencing in the first quarter of fiscal 2016, the Company changed its methodology for the allocation of costs to more effectively reflect and measure the individual businesses' financial and operational efficiency. Prior period segment results have been revised for these changes. Financial data concerning the Company’s revenue and segment operating income (loss) by reportable operating segment in the first quarter of fiscal 2016 and 2015 are summarized in the following tables (in thousands): Three Months Ended January 31, 2016 Total Staffing Services Other Net revenue $ 326,830 $ 308,681 $ 18,149 Expenses Direct cost of staffing services revenue 264,172 264,172 — Cost of other revenue 16,788 — 16,788 Selling, administrative and other operating costs 42,729 41,290 1,439 Restructuring and severance costs 1,778 1,485 293 Segment operating income (loss) 1,363 1,734 (371 ) Corporate general and administrative 10,196 Corporate restructuring and severance costs 983 Operating loss $ (9,816 ) Three Months Ended February 1, 2015 Total Staffing Services Other Net revenue $ 383,066 $ 360,821 $ 22,245 Expenses Direct cost of staffing services revenue 309,518 309,518 — Cost of other revenue 19,605 — 19,605 Selling, administrative and other operating costs 50,598 47,673 2,925 Segment operating income (loss) 3,345 3,630 (285 ) Corporate general and administrative 9,692 Corporate restructuring and severance costs 975 Operating loss $ (7,322 )

Subsequent Events

Subsequent Events	3 Months Ended
	Jan. 31, 2016
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events Bank of America Short-Term Credit Facility In February 2016, Maintech, Incorporated, an indirect wholly-owned subsidiary of the Company, as Borrower, entered into a $10.0 million 364 -day revolving credit facility with Bank of America, N.A., as Lender. The facility is secured by a parental guarantee of up to $3.0 million and a first lien on the domestic assets of the Borrower. Proceeds will be used for working capital and general corporate purposes. Pricing is one-month LIBOR plus 2.75% on drawn amounts and a fixed rate of 0.375% on undrawn amounts. Under the agreement, the Borrower is not subject to any financial covenants, but is subject to usual representations, warranties, and customary affirmative and negative covenants. The provisions of the agreement will not preclude structuring and other activities required in anticipation of the Maintech sale. As of March 4, 2016, the amount drawn under this facility was $2.0 million . Sale-Leaseback of Orange, California Facility In February 2016, Volt Orangeca Real Estate Corp., an indirect wholly-owned subsidiary of the Company, entered into a Purchase and Sale Agreement (the “PSA”) with Glassell Grand Avenue Partners, LLC (the “Buyer”), a limited liability company formed by Hines, a real estate investment and management firm, and funds managed by Oaktree Capital Management L.P., an investment management firm, for the sale of real property comprised of land and buildings with office space of approximately 191,000 square feet in Orange, California (the “Property”) for a purchase price of $35.9 million . All costs related to the transaction will be paid by both parties in the manner consistent with customary practice for real property sales in Orange County, California. The PSA contains customary representations, warranties and covenants. Contemporaneously with the execution of the PSA, the Company executed a Lease Agreement (the “Lease”) with the Buyer that will become effective upon a closing of the sale of the Property, pursuant to which the Property will be leased back to the Company. The Lease will have an initial term that will expire on March 31, 2031 (the “Initial Term”), and two successive renewal terms of five years each, exercisable at the Company’s option. The annual base rent will be $2.9 million for the first year of the Initial Term, and increase on each adjustment date by 3% of the then-current annual base rent. A security deposit of $2.2 million is required for the first year of the lease term which will be secured by a letter of credit under the Company's existing Financing Program with PNC and will subsequently be reduced if certain conditions are met. The Lease also contains other customary terms and provisions. The sale of the Property closed on March 4, 2016 with terms consistent with the PSA and Lease. After the repayment of the mortgage on the Property along with transaction-related expenses and fees, the Company received net cash proceeds of $27.1 million from the sale of the Property. Sale of Building in San Diego, California In March 2016, Volt Opportunity Road Realty Corp., an indirect wholly-owned subsidiary of the Company, closed on the sale of real property comprised of land and building with office space of approximately 19,000 square feet in San Diego, California with a private commercial real estate investor. There was no mortgage on the property and net proceeds, after transaction-related expenses and fees, totaled $2.0 million . Stock-Based Compensation Awards In March 2016, the Compensation Committee authorized the issuance of approximately 185,000 shares of restricted stock units and stock options under the 2006 Incentive Stock Plan. These shares, when granted, will vest over a three -year period commencing in the second quarter of fiscal 2016. There was no impact to the earnings per share for the first quarter of fiscal 2016.

Basis of Presentation (Policies

Basis of Presentation (Policies)	3 Months Ended
	Jan. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The accompanying interim condensed consolidated financial statements of Volt Information Sciences, Inc. ("Volt" or the "Company") have been prepared in conformity with generally accepted accounting principles, consistent in all material respects with those applied in the Annual Report on Form 10-K for the year ended November 1, 2015. The Company makes estimates and assumptions that affect the amounts reported. Actual results could differ from those estimates and changes in estimates are reflected in the period in which they become known. Accounting for certain expenses, including income taxes, are based on full year assumptions, and the financial statements reflect all normal adjustments that, in the opinion of management, are necessary for fair presentation of the interim periods presented. The interim information is unaudited and is prepared pursuant to the rules and regulations of the United States Securities and Exchange Commission (the "SEC"), which provides for omission of certain information and footnote disclosures. This interim financial information should be read in conjunction with the consolidated financial statements in the Company's Annual Report on Form 10-K for the year ended November 1, 2015. Certain reclassifications have been made to the prior year financial statements in order to conform to the current year's presentation.
Recently Issued Accounting Pronouncements	In February 2016, the FASB issued Accounting Standards Update (“ASU”) 2016-02, Leases (Topic 842) . This ASU requires that lessees recognize assets and liabilities for leases with lease terms greater than twelve months in the statement of financial position and also requires improved disclosures to help users of financial statements better understand the amount, timing and uncertainty of cash flows arising from leases. This update is effective for fiscal years beginning after December 15, 2018, including interim reporting periods within those fiscal years. Early adoption is permitted. In January 2016, the FASB issued ASU 2016-01, Financial Instruments - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities . This ASU amends certain aspects of recognition, measurement, presentation and disclosure of financial instruments, including the requirement to measure certain equity investments at fair value with changes in fair value recognized in net income. Some of the other provisions include eliminating certain disclosure requirements related to financial instruments measured at amortized cost and adding disclosures related to the measurement categories of financial assets and financial liabilities. This ASU is effective for public entities with fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. The Company is currently assessing the impact that the adoption of this standard will have on its consolidated financial statements and related disclosures upon implementation. In August 2015, the FASB issued ASU 2015-15, Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements . ASU 2015-15 clarifies the guidance in ASU 2015-03 regarding presentation and subsequent measurement of debt issuance costs related to line-of-credit arrangements. The SEC Staff announced they would not object to an entity deferring and presenting debt issuance costs as an asset and subsequently amortizing the deferred debt issuance costs ratably over the term of the line-of-credit arrangement, regardless of whether there are any outstanding borrowings on the line-of-credit arrangement. In April 2015, the FASB issued ASU No. 2015-03 , Simplifying the Presentation of Debt Issuance Costs. The ASU requires that debt issuance costs related to a recognized liability be presented on the balance sheet as a direct reduction from the carrying amount of that debt liability, consistent with debt discounts. The recognition and measurement guidance for debt issuance costs are not affected. This ASU is effective for reporting periods beginning after December 15, 2015. In August 2014, the FASB issued ASU 2014-15, Presentation of Financial Statements - Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern. This update provides guidance about management’s responsibility to evaluate whether there is substantial doubt about an entity’s ability to continue as a going concern. Specifically, the amendments (1) provide a definition of the term substantial doubt, (2) require an evaluation every reporting period including interim periods, (3) provide principles for considering the mitigating effect of management’s plans, (4) require certain disclosures when substantial doubt is alleviated as a result of consideration of management’s plans, (5) require an express statement and other disclosures when substantial doubt is not alleviated, and (6) require an assessment for a period of one year after the date that the financial statements are issued (or available to be issued). This ASU is effective for the annual period ending after December 15, 2016, with early adoption permitted. In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606) . The core principle of this amendment is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods and services. This standard is effective for fiscal years and interim reporting periods beginning after December 15, 2016. In August 2015, the FASB issued ASU 2015-14, Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date. The amendments in this update deferred the effective date for implementation of ASU 2014-09 by one year and is now effective for annual reporting periods beginning after December 15, 2017. Early application is permitted only as of annual reporting periods beginning after December 15, 2016 including interim reporting periods within that period. The Company is currently assessing the impact that the adoption of this standard will have on its consolidated financial statements and related disclosures upon implementation in the first quarter of fiscal 2019. Management has evaluated other recently issued accounting pronouncements and does not believe that any of these pronouncements will have a significant impact on our consolidated financial statements and related disclosures. Recently Adopted Accounting Standards In November 2015, the FASB issued Accounting Standards Update ASU 2015-17, Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes . The amendments in this update simplify the presentation of deferred income taxes and require that deferred tax liabilities and assets be classified as non-current in a classified statement of financial position. T he Company has early adopted ASU 2015-17 prospectively beginning in the first quarter of fiscal 2016. Other than the revised balance sheet presentation of deferred taxes from current to non-current, the adoption of this ASU did not have a material impact to our consolidated financial statements.

Discontinued Operations (Tables

Discontinued Operations (Tables)	3 Months Ended
	Jan. 31, 2016
Discontinued Operations and Disposal Groups [Abstract]
Schedule of Discontinued Operations Activity	The following table reconciles the major line items in the Condensed Consolidated Statements of Operations for discontinued operations (in thousands): Three Months Ended February 1, 2015 Loss on discontinued operations Net revenue $ 4,708 Cost of revenue (5,730 ) Selling, administrative and other operating costs (1,388 ) Restructuring and other related costs (1,709 ) Other income (expense), net 978 Loss from discontinued operations (3,141 ) Loss on disposal of discontinued operations (1,187 ) Total loss from discontinued operations (4,328 ) Income tax provision 191 Total loss from discontinued operations that is presented in the Condensed Consolidated Statements of Operations $ (4,519 ) The following table reconciles the major classes of assets and liabilities classified as held for sale as part of continuing operations in the Condensed Consolidated Balance Sheets (in thousands): January 31, 2016 November 1, 2015 Assets included as part of continuing operations Cash and cash equivalents $ 1,153 $ 1,537 Trade accounts receivable, net 15,149 15,671 Recoverable income taxes 23 165 Prepaid insurance and other assets 4,411 4,886 Property, equipment and software, net 164 189 Purchased intangible assets 495 495 Total major classes of assets as part of continuing operations - Maintech and Lakyfor, S.A. (1) $ 21,395 $ 22,943 Liabilities included as part of continuing operations Accrued compensation $ 2,561 $ 3,509 Accounts payable 1,290 1,387 Accrued taxes other than income taxes 1,034 1,165 Accrued insurance and other 597 523 Deferred revenue 1,190 761 Total major classes of liabilities as part of continuing operations - Maintech and Lakyfor, S.A. (1) $ 6,672 $ 7,345 (1) The Balance Sheet as of January 31, 2016 only includes Maintech.

Assets and Liabilities Held f24

Assets and Liabilities Held for Sale (Tables)	3 Months Ended
	Jan. 31, 2016
Discontinued Operations and Disposal Groups [Abstract]
Held for Sale	The following table reconciles the major line items in the Condensed Consolidated Statements of Operations for discontinued operations (in thousands): Three Months Ended February 1, 2015 Loss on discontinued operations Net revenue $ 4,708 Cost of revenue (5,730 ) Selling, administrative and other operating costs (1,388 ) Restructuring and other related costs (1,709 ) Other income (expense), net 978 Loss from discontinued operations (3,141 ) Loss on disposal of discontinued operations (1,187 ) Total loss from discontinued operations (4,328 ) Income tax provision 191 Total loss from discontinued operations that is presented in the Condensed Consolidated Statements of Operations $ (4,519 ) The following table reconciles the major classes of assets and liabilities classified as held for sale as part of continuing operations in the Condensed Consolidated Balance Sheets (in thousands): January 31, 2016 November 1, 2015 Assets included as part of continuing operations Cash and cash equivalents $ 1,153 $ 1,537 Trade accounts receivable, net 15,149 15,671 Recoverable income taxes 23 165 Prepaid insurance and other assets 4,411 4,886 Property, equipment and software, net 164 189 Purchased intangible assets 495 495 Total major classes of assets as part of continuing operations - Maintech and Lakyfor, S.A. (1) $ 21,395 $ 22,943 Liabilities included as part of continuing operations Accrued compensation $ 2,561 $ 3,509 Accounts payable 1,290 1,387 Accrued taxes other than income taxes 1,034 1,165 Accrued insurance and other 597 523 Deferred revenue 1,190 761 Total major classes of liabilities as part of continuing operations - Maintech and Lakyfor, S.A. (1) $ 6,672 $ 7,345 (1) The Balance Sheet as of January 31, 2016 only includes Maintech.

Accumulated Other Comprehensi25

Accumulated Other Comprehensive Loss (Tables)	3 Months Ended
	Jan. 31, 2016
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	The changes in accumulated other comprehensive loss for the three months ended January 31, 2016 were (in thousands): Foreign Currency Translation Unrealized Gain (Loss) on Marketable Securities Accumulated other comprehensive loss at November 1, 2015 $ (7,971 ) $ (23 ) Other comprehensive loss before reclassifications (2,515 ) — Accumulated other comprehensive loss at January 31, 2016 $ (10,486 ) $ (23 ) Reclassifications from accumulated other comprehensive loss for the three months ended January 31, 2016 were (in thousands): Three Months Ended January 31, 2016 February 1, 2015 Foreign currency translation Sale of foreign subsidiaries $ — $ (3,181 ) Total reclassifications, net of tax $ — $ (3,181 ) Details about Accumulated Other Comprehensive Loss Components for the three months ended February 1, 2015 Amount Reclassified from Accumulated Other Comprehensive Loss Affected Line Item in the Statement Where Net Loss is Presented Foreign currency translation Sale of foreign subsidiaries $ 3,181 Discontinued operations
Reclassification out of Accumulated Other Comprehensive Income	The changes in accumulated other comprehensive loss for the three months ended January 31, 2016 were (in thousands): Foreign Currency Translation Unrealized Gain (Loss) on Marketable Securities Accumulated other comprehensive loss at November 1, 2015 $ (7,971 ) $ (23 ) Other comprehensive loss before reclassifications (2,515 ) — Accumulated other comprehensive loss at January 31, 2016 $ (10,486 ) $ (23 ) Reclassifications from accumulated other comprehensive loss for the three months ended January 31, 2016 were (in thousands): Three Months Ended January 31, 2016 February 1, 2015 Foreign currency translation Sale of foreign subsidiaries $ — $ (3,181 ) Total reclassifications, net of tax $ — $ (3,181 ) Details about Accumulated Other Comprehensive Loss Components for the three months ended February 1, 2015 Amount Reclassified from Accumulated Other Comprehensive Loss Affected Line Item in the Statement Where Net Loss is Presented Foreign currency translation Sale of foreign subsidiaries $ 3,181 Discontinued operations

Earnings (Loss) Per Share (Tabl

Earnings (Loss) Per Share (Tables)	3 Months Ended
	Jan. 31, 2016
Earnings Per Share [Abstract]
Summary of Basic and Diluted Net Income (Loss) Per Share	Basic and diluted net income (loss) per share is calculated as follows (in thousands, except per share amounts): Three Months Ended January 31, 2016 February 1, 2015 Numerator Loss from continuing operations $ (10,962 ) $ (8,800 ) Loss from discontinued operations, net of income taxes — (4,519 ) Net loss $ (10,962 ) $ (13,319 ) Denominator Basic weighted average number of shares 20,813 20,930 Diluted weighted average number of shares 20,813 20,930 Basic: Loss from continuing operations $ (0.53 ) $ (0.42 ) Loss from discontinued operations, net of income taxes — (0.22 ) Net loss $ (0.53 ) $ (0.64 ) Diluted: Loss from continuing operations $ (0.53 ) $ (0.42 ) Loss from discontinued operations, net of income taxes — (0.22 ) Net loss $ (0.53 ) $ (0.64 )

Restructuring and Severance C27

Restructuring and Severance Costs (Tables)	3 Months Ended
	Jan. 31, 2016
Restructuring and Related Activities [Abstract]
Restructuring and Related Costs	The following table presents the restructuring and severance costs for the three months ended January 31, 2016 (in thousands): Staffing Services Other Corporate Total Severance and benefit costs $ 1,353 $ 293 $ 983 $ 2,629 Other 132 — — 132 Total Costs $ 1,485 $ 293 $ 983 $ 2,761
Schedule of Restructuring Reserve	Activity for the three months ended January 31, 2016 are summarized as follows (in thousands): January 31, 2016 Beginning Balance $ — Charged to expense 2,761 Cash payments (1,459 ) Ending Balance $ 1,302

Segment Data (Tables)

Segment Data (Tables)	3 Months Ended
	Jan. 31, 2016
Segment Reporting [Abstract]
Summary of Sales and Segment Operating Income (Loss) by Reportable Operating Segment	Financial data concerning the Company’s revenue and segment operating income (loss) by reportable operating segment in the first quarter of fiscal 2016 and 2015 are summarized in the following tables (in thousands): Three Months Ended January 31, 2016 Total Staffing Services Other Net revenue $ 326,830 $ 308,681 $ 18,149 Expenses Direct cost of staffing services revenue 264,172 264,172 — Cost of other revenue 16,788 — 16,788 Selling, administrative and other operating costs 42,729 41,290 1,439 Restructuring and severance costs 1,778 1,485 293 Segment operating income (loss) 1,363 1,734 (371 ) Corporate general and administrative 10,196 Corporate restructuring and severance costs 983 Operating loss $ (9,816 ) Three Months Ended February 1, 2015 Total Staffing Services Other Net revenue $ 383,066 $ 360,821 $ 22,245 Expenses Direct cost of staffing services revenue 309,518 309,518 — Cost of other revenue 19,605 — 19,605 Selling, administrative and other operating costs 50,598 47,673 2,925 Segment operating income (loss) 3,345 3,630 (285 ) Corporate general and administrative 9,692 Corporate restructuring and severance costs 975 Operating loss $ (7,322 )

Discontinued Operations (Detail

Discontinued Operations (Details) - USD ($) $ in Thousands	Dec. 01, 2014	Jan. 31, 2016	Feb. 01, 2015
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cash payments		$ 1,459
Computer Systems Segment
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Payment to acquire note receivable	$ 4,000
Payment term	45 days
Working capital	$ 6,000
Gain on the sale transaction			$ 1,200
Restructuring and related cost			2,200
Computer Systems Segment | Severance and benefit costs
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Restructuring and related cost			900
Computer Systems Segment | Professional Fees Incurred
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Restructuring and related cost			900
Computer Systems Segment | Lease obligation costs
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Restructuring and related cost			400
Cash payments		2,000
Expected cost remaining		200
Computer Systems Segment | NewNet Communication Technologies, LLC
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Note receivable	$ 10,000
Interest rate	0.50%
Payment term	4 years
Capital interest percentage	20.00%
Notes receivable, fair value	$ 8,400
Amortization period	4 years
Effective yield (interest rate)	5.10%
Unamortized discount		1,100
Amortization of receivable amortization		$ 100	$ 100

Discontinued Operations - State

Discontinued Operations - Statements of Operations (Details) - USD ($) $ in Thousands	3 Months Ended
	Jan. 31, 2016	Feb. 01, 2015
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Other income (expense), net	$ (279)	$ 98
Total loss from discontinued operations	$ 0	(4,519)
Computer Systems Segment
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net revenue		4,708
Cost of revenue		(5,730)
Selling, administrative and other operating costs		(1,388)
Restructuring and other related costs		(1,709)
Other income (expense), net		978
Loss from discontinued operations		(3,141)
Loss on disposal of discontinued operations		(1,187)
Total loss from discontinued operations		(4,328)
Income tax provision		191
Total loss from discontinued operations that is presented in the Condensed Consolidated Statements of Operations		$ (4,519)

Assets and Liabilities Held f31

Assets and Liabilities Held for Sale (Details) - Information Technology Infrastructure Support Service - USD ($) $ in Thousands	3 Months Ended
	Jan. 31, 2016	Nov. 01, 2015
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Impairment of assets		$ 700
Loss on disposal of discontinued operations	$ 100
Assets included as part of continuing operations
Cash and cash equivalents	1,153	1,537
Trade accounts receivable, net	15,149	15,671
Recoverable income taxes	23	165
Prepaid insurance and other assets	4,411	4,886
Property, equipment and software, net	164	189
Purchased intangible assets	495	495
Total major classes of assets of discontinued operations - Computer Systems	21,395	22,943
Liabilities included as part of continuing operations
Accrued compensation	2,561	3,509
Accounts payable	1,290	1,387
Accrued taxes other than income taxes	1,034	1,165
Accrued insurance and other	597	523
Deferred revenue	1,190	761
Total major classes of liabilities of discontinued operations - Computer Systems	$ 6,672	$ 7,345

Accumulated Other Comprehensi32

Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	3 Months Ended
	Jan. 31, 2016	Feb. 01, 2015
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss at November 1, 2015	$ (7,994)
Accumulated other comprehensive loss at January 31, 2016	(10,509)
Reclassification out of Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Sale of foreign subsidiaries	0	$ (3,181)
Total reclassifications, net of tax	0	$ (3,181)
Foreign Currency Translation
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss at November 1, 2015	(7,971)
Other comprehensive loss before reclassifications	(2,515)
Accumulated other comprehensive loss at January 31, 2016	(10,486)
Unrealized Gain (Loss) on Marketable Securities
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss at November 1, 2015	(23)
Other comprehensive loss before reclassifications	0
Accumulated other comprehensive loss at January 31, 2016	(23)
Discontinued Operations | Foreign Currency Translation | Reclassification out of Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Sale of foreign subsidiaries	$ 3,181

Restricted Cash and Short-Ter33

Restricted Cash and Short-Term Investments - Additional Information (Detail) - Restricted cash and short-term investments - USD ($) $ in Millions	Jan. 31, 2016	Nov. 01, 2015
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash	$ 10.8	$ 9.3
Short-term investments	3.9	4.8
Short-Term Credit Facility
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted as collateral	$ 1.9	$ 0.9

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended
	Jan. 31, 2016	Feb. 01, 2015
Income Tax Disclosure [Abstract]
Income tax provision	$ 553	$ 1,379

Debt - Additional Information (

Debt - Additional Information (Detail) £ in Millions, CAD in Millions	1 Months Ended	2 Months Ended	3 Months Ended	12 Months Ended
	Jan. 31, 2016GBP (£)	Dec. 31, 2015USD ($)	Jan. 31, 2016GBP (£)	Nov. 01, 2015USD ($)	Jul. 31, 2016USD ($)	Jan. 31, 2016CAD	Jan. 31, 2016USD ($)
Debt Instrument [Line Items]
Long-term debt				$ 7,300,000			$ 7,000,000
Current maturities				1,000,000			1,000,000
Line of Credit
Debt Instrument [Line Items]
Line of credit facility borrowing capacity	£ 20		£ 20			CAD 30	150,000,000
Minimum funding threshold percent	40.00%	60.00%
Commitment fee percentage	0.70%	0.65%
Fair value of amount outstanding							148,700,000
Cash collateral of outstanding short-term borrowings		$ 20,000,000					35,000,000
Maximum borrowing capacity							250,000,000
Outstanding borrowing				$ 100,000,000			100,000,000
Weighted average interest rate during period			2.10%	1.80%
Available borrowing capacity of facility							23,600,000
Line of Credit | LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate	1.90%	1.75%
Letter of Credit
Debt Instrument [Line Items]
Line of credit facility borrowing capacity							50,000,000
Fair value of amount outstanding							$ 25,100,000
Forecast | Line of Credit
Debt Instrument [Line Items]
Cash collateral of outstanding short-term borrowings					$ 50,000,000

Earnings (Loss) Per Share - Sum

Earnings (Loss) Per Share - Summary of Basic and Diluted Net Income (Loss) Per Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Jan. 31, 2016	Feb. 01, 2015
Numerator
Loss from continuing operations	$ (10,962)	$ (8,800)
Loss from discontinued operations, net of income taxes	0	(4,519)
NET LOSS	$ (10,962)	$ (13,319)
Denominator
Basic weighted average number of shares (shares)	20,813	20,930
Dilutive weighted average number of shares (shares)	20,813	20,930
Basic:
Loss from continuing operations (usd per share)	$ (0.53)	$ (0.42)
Loss from discontinued operations (usd per share)	0	(0.22)
Net loss (usd per share)	(0.53)	(0.64)
Diluted:
Loss from continuing operations (usd per share)	(0.53)	(0.42)
Loss from discontinued operations (usd per share)	0	(0.22)
Net loss (usd per share)	$ (0.53)	$ (0.64)

Earnings (Loss) Per Share - Add

Earnings (Loss) Per Share - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Nov. 01, 2015	Jan. 31, 2016	Feb. 01, 2015	Jan. 14, 2015
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Options to purchase common stock outstanding		945,578	762,150
Restricted Stock Units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Restricted shares outstanding		8,159	40,000
Common Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Number of shares authorized to be repurchased (shares)				1,500,000
Number of shares repurchased (shares)	340,800
Weighted average price paid per share (usd per share)	$ 12.50
Shares repurchased	$ 4.3
Remaining number of shares authorized to be repurchased (shares)		1,159,200

Restructuring and Severance C38

Restructuring and Severance Costs (Details) - USD ($) $ in Thousands	3 Months Ended
	Jan. 31, 2016	Feb. 01, 2015	Nov. 30, 2015
Restructuring Cost and Reserve [Line Items]
Expected cost			$ 3,000
Restructuring and severance costs	$ 2,761	$ 975
Restructuring Reserve [Roll Forward]
Beginning Balance	0
Charged to expense	2,761
Cash payments	(1,459)
Ending Balance	1,302
Severance and benefit costs
Restructuring Reserve [Roll Forward]
Charged to expense	2,629
Other
Restructuring Reserve [Roll Forward]
Charged to expense	132
Operating Segments
Restructuring Cost and Reserve [Line Items]
Restructuring and severance costs	1,778
Operating Segments | Staffing Services
Restructuring Cost and Reserve [Line Items]
Expected cost	700
Restructuring and severance costs	1,485
Restructuring Reserve [Roll Forward]
Charged to expense	1,485
Operating Segments | Staffing Services | Severance and benefit costs
Restructuring Reserve [Roll Forward]
Charged to expense	1,353
Operating Segments | Staffing Services | Other
Restructuring Reserve [Roll Forward]
Charged to expense	132
Operating Segments | Other
Restructuring Cost and Reserve [Line Items]
Expected cost	100
Restructuring and severance costs	293
Restructuring Reserve [Roll Forward]
Charged to expense	293
Operating Segments | Other | Severance and benefit costs
Restructuring Reserve [Roll Forward]
Charged to expense	293
Operating Segments | Other | Other
Restructuring Reserve [Roll Forward]
Charged to expense	0
Corporate
Restructuring Cost and Reserve [Line Items]
Expected cost	500
Restructuring Reserve [Roll Forward]
Charged to expense	983
Corporate | Severance and benefit costs
Restructuring Reserve [Roll Forward]
Charged to expense	983
Corporate | Other
Restructuring Reserve [Roll Forward]
Charged to expense	$ 0

Segment Data - Summary of Sales

Segment Data - Summary of Sales and Segment Operating Income (Loss) by Reportable Operating Segment (Detail) - USD ($) $ in Thousands	3 Months Ended
	Jan. 31, 2016	Feb. 01, 2015
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
NET REVENUE	$ 326,830	$ 383,066
Expenses
Direct cost of staffing services revenue	264,172	309,518
Cost of other revenue	16,788	19,605
Selling, administrative and other operating costs	52,925	60,290
Restructuring and severance costs	2,761	975
OPERATING LOSS	(9,816)	(7,322)
Operating Segments
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
NET REVENUE	326,830	383,066
Expenses
Direct cost of staffing services revenue	264,172	309,518
Cost of other revenue	16,788	19,605
Selling, administrative and other operating costs	42,729	50,598
Restructuring and severance costs	1,778
Segment operating income (loss)	1,363	3,345
Operating Segments | Staffing Services
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
NET REVENUE	308,681	360,821
Expenses
Direct cost of staffing services revenue	264,172	309,518
Cost of other revenue	0	0
Selling, administrative and other operating costs	41,290	47,673
Restructuring and severance costs	1,485
Segment operating income (loss)	1,734	3,630
Operating Segments | Other
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
NET REVENUE	18,149	22,245
Expenses
Direct cost of staffing services revenue	0	0
Cost of other revenue	16,788	19,605
Selling, administrative and other operating costs	1,439	2,925
Restructuring and severance costs	293
Segment operating income (loss)	(371)	(285)
Corporate general and administrative
Expenses
Selling, administrative and other operating costs	10,196	9,692
Restatement, investigations and remediation
Expenses
Restatement, investigations and remediation	$ 983	$ 975

Subsequent Events (Details)

Subsequent Events (Details) - Subsequent Event ft² in Thousands, $ in Millions	Mar. 09, 2016USD ($)ft²shares	Mar. 04, 2016USD ($)	Feb. 29, 2016USD ($)ft²renewal_option
Volt Orangeca Real Estate Corp
Subsequent Event [Line Items]
Area of real estate property | ft²			191
Purchase price			$ 35.9
Number of successive renewal terms | renewal_option			2
Duration of renewal term			5 years
Annual rental payments			$ 2.9
Increase in annual rental payment			3.00%
Security deposit			$ 2.2
Proceeds from sale of property		$ 27.1
Volt Opportunity Road Realty Corp
Subsequent Event [Line Items]
Area of real estate property | ft²	19
Purchase price	$ 2
Revolving Credit Facility | Maintech, Incorporated
Subsequent Event [Line Items]
Line of credit facility borrowing capacity			$ 10
Term of facility			364 days
Secured borrowing capacity			$ 3
Fixed interest rate on undrawn funds			0.375%
Outstanding borrowing		$ 2
LIBOR | Revolving Credit Facility | Maintech, Incorporated
Subsequent Event [Line Items]
Basis spread on variable rate			2.75%
2006 Incentive Stock Plan | Restricted Stock
Subsequent Event [Line Items]
Number of additional shares authorized (shares) | shares	185,000
Award vesting period	3 years