Document_and_Entity_Informatio
Document and Entity Information (USD $) | 12 Months Ended | ||
Nov. 03, 2013 | Jan. 24, 2014 | Apr. 26, 2013 | |
Document And Entity Information [Abstract] | ' | ' | ' |
Document Type | '10-K | ' | ' |
Amendment Flag | 'false | ' | ' |
Document Period End Date | 3-Nov-13 | ' | ' |
Document Fiscal Year Focus | '2013 | ' | ' |
Document Fiscal Period Focus | 'FY | ' | ' |
Trading Symbol | 'VISI | ' | ' |
Entity Registrant Name | 'VOLT INFORMATION SCIENCES, INC. | ' | ' |
Entity Central Index Key | '0000103872 | ' | ' |
Current Fiscal Year End Date | '--11-03 | ' | ' |
Entity Well-known Seasoned Issuer | 'No | ' | ' |
Entity Current Reporting Status | 'No | ' | ' |
Entity Voluntary Filers | 'No | ' | ' |
Entity Filer Category | 'Accelerated Filer | ' | ' |
Entity Common Stock, Shares Outstanding | ' | 20,849,462 | ' |
Entity Public Float | ' | ' | $91,282,000 |
Consolidated_Statements_of_Ope
Consolidated Statements of Operations (USD $) | 0 Months Ended | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, except Per Share data, unless otherwise specified | Jul. 31, 2012 | Nov. 03, 2013 | Jul. 28, 2013 | Apr. 28, 2013 | Jan. 27, 2013 | Oct. 28, 2012 | Jul. 29, 2012 | Apr. 29, 2012 | Jan. 29, 2012 | Nov. 03, 2013 | Oct. 28, 2012 | Oct. 30, 2011 |
REVENUE: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Staffing services revenue | ' | $492,784 | $455,848 | $476,729 | $474,362 | $518,952 | $508,154 | $521,278 | $479,217 | $1,899,723 | $2,027,601 | $1,957,905 |
Other revenue | ' | 54,011 | 48,365 | 42,995 | 45,843 | 52,607 | 49,878 | 52,165 | 63,876 | 191,214 | 218,526 | 280,204 |
NET REVENUE | ' | 546,795 | 504,213 | 519,724 | 520,205 | 571,559 | 558,032 | 573,443 | 543,093 | 2,090,937 | 2,246,127 | 2,238,109 |
EXPENSES: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Direct cost of staffing services revenue | ' | 418,824 | 390,432 | 413,116 | 411,993 | 440,600 | 441,124 | 441,341 | 415,868 | 1,634,365 | 1,738,933 | 1,698,711 |
Cost of other revenue | ' | 42,978 | 37,595 | 39,873 | 39,753 | 39,363 | 38,296 | 42,759 | 43,435 | 160,199 | 163,853 | 166,211 |
Selling, administrative and other operating costs | ' | 76,577 | 72,128 | 74,992 | 70,337 | 81,259 | 78,093 | 77,003 | 74,492 | 294,034 | 310,847 | 302,882 |
Amortization of purchased intangible assets | ' | 341 | 337 | 346 | 345 | 348 | 344 | 345 | 345 | 1,369 | 1,382 | 1,347 |
Restructuring costs | ' | 2,815 | 223 | 948 | 740 | ' | ' | ' | ' | 4,726 | ' | ' |
Gain on sale of building | -4,418 | ' | ' | ' | ' | -4,418 | ' | ' | ' | ' | -4,418 | ' |
Restatement and associated investigations | ' | 2,462 | 1,159 | 7,387 | 13,820 | 14,906 | 9,800 | 9,169 | 9,031 | 24,828 | 42,906 | 49,193 |
TOTAL EXPENSES | ' | 543,997 | 501,874 | 536,662 | 536,988 | 572,058 | 567,657 | 570,617 | 543,171 | 2,119,521 | 2,253,503 | 2,218,344 |
OPERATING INCOME (LOSS) | ' | 2,798 | 2,339 | -16,938 | -16,783 | -499 | -9,625 | 2,826 | -78 | -28,584 | -7,376 | 19,765 |
OTHER INCOME (EXPENSE), NET: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest income | ' | 151 | 85 | 104 | 572 | 123 | 227 | 118 | 124 | 912 | 592 | 687 |
Interest expense | ' | -1,062 | -902 | -1,001 | -904 | -926 | -936 | -899 | -903 | -3,869 | -3,664 | -3,576 |
Foreign exchange gain (loss), net | ' | -486 | 113 | 843 | 634 | -317 | 774 | -1,043 | 455 | 1,104 | -131 | -569 |
Other income (expense), net | ' | -27 | -23 | 114 | -33 | -295 | -121 | -124 | -93 | 31 | -633 | -1,026 |
TOTAL OTHER EXPENSE, NET | ' | ' | ' | ' | ' | ' | ' | ' | ' | -1,822 | -3,836 | -4,484 |
INCOME (LOSS) BEFORE INCOME TAXES | ' | 1,374 | 1,612 | -16,878 | -16,514 | -1,914 | -9,681 | 878 | -495 | -30,406 | -11,212 | 15,281 |
Income tax provision (benefit) | ' | -246 | -444 | 583 | 576 | 98 | 1,560 | 331 | 402 | 469 | 2,391 | -348 |
NET INCOME (LOSS) | ' | $1,620 | $2,056 | ($17,461) | ($17,090) | ($2,012) | ($11,241) | $547 | ($897) | ($30,875) | ($13,603) | $15,629 |
Basic: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ($1.48) | ($0.65) | $0.75 |
Weighted average number of shares | ' | 20,837 | 20,829 | 20,825 | 20,813 | 20,813 | 20,813 | 20,813 | 20,813 | 20,826 | 20,813 | 20,813 |
Diluted: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ($1.48) | ($0.65) | $0.75 |
Weighted average number of shares | ' | 21,050 | 21,019 | 20,825 | 20,813 | 20,813 | 20,813 | 20,902 | 20,813 | 20,826 | 20,813 | 20,896 |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (Loss) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Nov. 03, 2013 | Oct. 28, 2012 | Oct. 30, 2011 |
Statement Of Income And Comprehensive Income [Abstract] | ' | ' | ' |
Consolidated net income (loss) | ($30,875) | ($13,603) | $15,629 |
Other comprehensive income (loss): | ' | ' | ' |
Foreign currency translation adjustments net of taxes of $0, $0, and $0, respectively | -2,531 | -671 | 568 |
Unrealized gain (loss) on marketable securities net of taxes of $0, $0, and $0, respectively | 27 | 3 | -104 |
Total other comprehensive income (loss) | -2,504 | -668 | 464 |
Comprehensive income (loss) | ($33,379) | ($14,271) | $16,093 |
Consolidated_Statements_of_Com1
Consolidated Statements of Comprehensive Income (Loss) (Parenthetical) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Nov. 03, 2013 | Oct. 28, 2012 | Oct. 30, 2011 |
Statement Of Income And Comprehensive Income [Abstract] | ' | ' | ' |
Foreign currency translation adjustments, taxes | $0 | $0 | $0 |
Unrealized gains (loss) on marketable securities, taxes | $0 | $0 | $0 |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Nov. 03, 2013 | Jul. 28, 2013 | Apr. 28, 2013 | Jan. 27, 2013 | Oct. 28, 2012 | Jul. 29, 2012 | Apr. 29, 2012 | Jan. 29, 2012 | Oct. 30, 2011 | Oct. 31, 2010 |
In Thousands, unless otherwise specified | ||||||||||
CURRENT ASSETS: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash and cash equivalents | $11,114 | $21,389 | $35,910 | $25,504 | $26,483 | $33,118 | $28,425 | $46,399 | $44,567 | $51,084 |
Restricted cash | 47,356 | 45,987 | 49,524 | 57,548 | 61,927 | 73,681 | 87,424 | 80,654 | ' | ' |
Short-term investments | 6,144 | 6,196 | 5,954 | 5,783 | 5,611 | 5,482 | 5,608 | 5,370 | ' | ' |
Trade accounts receivable, net of allowances of $1,811 and $1,899, respectively | 293,305 | 286,416 | 294,346 | 296,967 | 334,947 | 328,189 | 340,145 | 291,831 | ' | ' |
Recoverable income taxes | 17,150 | 17,645 | 16,438 | 17,369 | 13,884 | 13,775 | 13,564 | 13,100 | ' | ' |
Prepaid insurance | 14,248 | 15,638 | 19,380 | 11,822 | 11,138 | 12,372 | 17,140 | 10,855 | ' | ' |
Other current assets | 21,097 | 20,057 | 17,565 | 20,950 | 15,406 | 18,861 | 17,951 | 19,898 | ' | ' |
TOTAL CURRENT ASSETS | 410,414 | 413,328 | 439,117 | 435,943 | 469,396 | 485,478 | 510,257 | 468,107 | ' | ' |
Prepaid insurance and other assets, excluding current portion | 43,473 | 43,141 | 39,866 | 40,763 | 38,479 | 36,082 | 31,140 | 35,249 | ' | ' |
Property, equipment and software, net | 37,324 | 36,072 | 36,315 | 37,540 | 39,052 | 40,473 | 40,632 | 41,768 | ' | ' |
Purchased intangible assets, net and goodwill | 9,101 | 9,230 | 9,752 | 10,211 | 10,645 | 10,732 | 11,402 | 11,550 | ' | ' |
TOTAL ASSETS | 500,312 | 501,771 | 525,050 | 524,457 | 557,572 | 572,765 | 593,431 | 556,674 | ' | ' |
CURRENT LIABILITIES: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accrued compensation | 53,474 | 54,126 | 53,639 | 54,346 | 58,183 | 58,279 | 56,537 | 54,666 | ' | ' |
Accounts payable | 57,165 | 56,584 | 75,558 | 79,700 | 86,523 | 92,206 | 110,244 | 98,850 | ' | ' |
Accrued taxes other than income taxes | 19,520 | 27,428 | 35,006 | 31,406 | 29,361 | 30,901 | 37,339 | 29,555 | ' | ' |
Accrued insurance and other | 44,133 | 36,410 | 39,124 | 37,949 | 34,927 | 34,770 | 36,859 | 40,362 | ' | ' |
Deferred revenue, net, current portion | 13,335 | 21,307 | 25,328 | 23,699 | 24,240 | 31,649 | 30,704 | 30,357 | ' | ' |
Short-term borrowings, including current portion of long-term debt | 168,114 | 165,755 | 155,771 | 135,825 | 145,727 | 144,246 | 125,831 | 105,529 | ' | ' |
TOTAL CURRENT LIABILITIES | 355,741 | 361,610 | 384,426 | 362,925 | 378,961 | 392,051 | 397,514 | 359,319 | ' | ' |
Accrued insurance, excluding current portion | 13,003 | 8,554 | 9,678 | 11,140 | 9,010 | 6,976 | 7,914 | 8,981 | ' | ' |
Deferred revenue, net, excluding current portion | 2,839 | 1,968 | 2,541 | 3,309 | 4,268 | 6,452 | 8,300 | 10,261 | ' | ' |
Income taxes payable, excluding current portion | 8,659 | 10,424 | 10,424 | 10,424 | 10,424 | 9,339 | 9,339 | 9,339 | ' | ' |
Deferred income taxes | 1,702 | 2,764 | 2,762 | 2,760 | 2,759 | 3,531 | 3,493 | 3,494 | ' | ' |
Long-term debt, excluding current portion | 8,127 | 8,414 | 8,624 | 8,831 | 9,033 | 9,231 | 9,425 | 9,615 | ' | ' |
TOTAL LIABILITIES | 390,071 | 393,734 | 418,455 | 399,389 | 414,455 | 427,580 | 435,985 | 401,009 | ' | ' |
Commitments and contingencies | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
STOCKHOLDERS' EQUITY: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Preferred stock, par value $1.00; Authorized - 500,000 shares; Issued - none | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock, par value $0.10; Authorized - 120,000,000 shares; Issued - 23,536,769 and 23,500,103, respectively; Outstanding - 20,849,462 and 20,812,796, respectively | 2,354 | 2,352 | 2,351 | 2,350 | 2,350 | 2,350 | 2,350 | 2,350 | ' | ' |
Paid-in capital | 72,003 | 71,972 | 71,891 | 71,719 | 71,591 | 71,618 | 71,623 | 71,518 | ' | ' |
Retained earnings | 83,007 | 81,387 | 79,288 | 96,726 | 113,795 | 115,771 | 126,944 | 126,270 | ' | ' |
Accumulated other comprehensive loss | -5,243 | -5,794 | -5,055 | -3,847 | -2,739 | -2,674 | -1,591 | -2,593 | -2,071 | ' |
Treasury stock, at cost; 2,687,307 shares | -41,880 | -41,880 | -41,880 | -41,880 | -41,880 | -41,880 | -41,880 | -41,880 | ' | ' |
TOTAL STOCKHOLDERS' EQUITY | 110,241 | 108,037 | 106,595 | 125,068 | 143,117 | 145,185 | 157,446 | 155,665 | 156,663 | 140,137 |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $500,312 | $501,771 | $525,050 | $524,457 | $557,572 | $572,765 | $593,431 | $556,674 | ' | ' |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Nov. 03, 2013 | Oct. 28, 2012 |
In Thousands, except Share data, unless otherwise specified | ||
Statement Of Financial Position [Abstract] | ' | ' |
Trade accounts receivable, allowances | $1,811 | $1,899 |
Preferred stock, par value | $1 | $1 |
Preferred stock, shares authorized | 500,000 | 500,000 |
Preferred stock, shares issued | 0 | 0 |
Common stock, par value | $0.10 | $0.10 |
Common stock, shares authorized | 120,000,000 | 120,000,000 |
Common stock, shares issued | 23,536,769 | 23,500,103 |
Common stock, shares outstanding | 20,849,462 | 20,812,796 |
Treasury stock, shares | 2,687,307 | 2,687,307 |
Consolidated_Statements_of_Sto
Consolidated Statements of Stockholders' Equity (USD $) | Total | Common Stock [Member] | Paid-in Capital [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Loss [Member] | Treasury Stock [Member] |
In Thousands, except Share data | ||||||
BALANCE at Oct. 31, 2010 | $140,137 | $2,350 | $71,004 | $111,198 | ($2,535) | ($41,880) |
BALANCE, Shares at Oct. 31, 2010 | ' | 23,500,103 | ' | ' | ' | ' |
Net income (loss) | 15,629 | ' | ' | 15,629 | ' | ' |
Share based compensation expense | 460 | ' | 460 | ' | ' | ' |
Other | -27 | ' | ' | -27 | ' | ' |
Other comprehensive income (loss) | 464 | ' | ' | ' | 464 | ' |
BALANCE at Oct. 30, 2011 | 156,663 | 2,350 | 71,464 | 126,800 | -2,071 | -41,880 |
BALANCE, Shares at Oct. 30, 2011 | ' | 23,500,103 | ' | ' | ' | ' |
Net income (loss) | -13,603 | ' | ' | -13,603 | ' | ' |
Share based compensation expense | 127 | ' | 127 | ' | ' | ' |
Other | 598 | ' | ' | 598 | ' | ' |
Other comprehensive income (loss) | -668 | ' | ' | ' | -668 | ' |
BALANCE at Oct. 28, 2012 | 143,117 | 2,350 | 71,591 | 113,795 | -2,739 | -41,880 |
BALANCE, Shares at Oct. 28, 2012 | ' | 23,500,103 | ' | ' | ' | ' |
Net income (loss) | -30,875 | ' | ' | -30,875 | ' | ' |
Share based compensation expense and issuance of related common stock | 416 | 4 | 412 | ' | ' | ' |
Share based compensation expense and issuance of related common stock, Shares | ' | 36,666 | ' | ' | ' | ' |
Other | 87 | ' | ' | 87 | ' | ' |
Other comprehensive income (loss) | -2,504 | ' | ' | ' | -2,504 | ' |
BALANCE at Nov. 03, 2013 | $110,241 | $2,354 | $72,003 | $83,007 | ($5,243) | ($41,880) |
BALANCE, Shares at Nov. 03, 2013 | ' | 23,536,769 | ' | ' | ' | ' |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Nov. 03, 2013 | Jul. 28, 2013 | Apr. 28, 2013 | Jan. 27, 2013 | Oct. 28, 2012 | Jul. 29, 2012 | Apr. 29, 2012 | Jan. 29, 2012 | Nov. 03, 2013 | Oct. 28, 2012 | Oct. 30, 2011 |
CASH FLOWS FROM OPERATING ACTIVITIES: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income (loss) | $1,620 | $2,056 | ($17,461) | ($17,090) | ($2,012) | ($11,241) | $547 | ($897) | ($30,875) | ($13,603) | $15,629 |
Adjustments to reconcile net income (loss) to cash used in operating activities: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Depreciation and amortization | 3,551 | 3,550 | 3,676 | 4,154 | 4,062 | 4,022 | 4,075 | 4,354 | 14,931 | 16,513 | 19,735 |
Provisions (release) of doubtful accounts and sales allowances | 3 | 307 | 13 | 56 | -86 | 333 | 5 | -138 | 379 | 114 | -474 |
Unrealized foreign currency exchange loss (gain) | 518 | -285 | -965 | -574 | 216 | -427 | 8 | 475 | -1,306 | 272 | 481 |
Gain on dispositions of property, equipment and software | -20 | -148 | 47 | 12 | -4,392 | -367 | -32 | -107 | -109 | -4,898 | -2,049 |
Deferred income tax provision (benefit) | 54 | 221 | -954 | -1,003 | -14 | 1,348 | 203 | 269 | -1,682 | 1,806 | -4,933 |
Share-based compensation expense | 33 | 82 | 172 | 129 | -27 | -5 | 105 | 54 | 416 | 127 | 460 |
Change in operating assets and liabilities: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Trade accounts receivable | -7,214 | 6,557 | 2,862 | 38,867 | -6,286 | 11,663 | -48,654 | 28,558 | 41,072 | -14,719 | 9,355 |
Restricted cash related to customer contracts | -755 | 3,396 | 3,731 | 4,403 | 12,082 | 13,451 | -6,752 | -5,167 | 10,775 | 13,614 | 966 |
Prepaid insurance and other assets | 2,848 | -2,652 | -2,143 | -5,850 | 2,363 | -3,864 | -84 | 28 | -7,797 | -1,557 | -1,254 |
Accounts payable | 561 | -19,059 | -4,360 | -6,107 | -5,618 | -17,865 | 11,265 | -851 | -28,965 | -13,069 | -3,068 |
Accrued expenses | -954 | -9,316 | 919 | 2,593 | -1,307 | -5,809 | 4,969 | 3,854 | -6,758 | 1,707 | -5,823 |
Deferred revenue, net | -9,138 | -4,625 | 791 | -1,897 | -9,686 | -779 | -1,700 | -14,262 | -14,869 | -26,427 | -56,883 |
Other liabilities | 1,103 | ' | ' | -140 | 10 | 44 | -54 | -79 | 963 | -79 | -365 |
Income taxes | -1,226 | -1,768 | 1,497 | -5,767 | 1,303 | -271 | -588 | -682 | -7,264 | -238 | -129 |
Net cash used in operating activities | -9,016 | -21,684 | -12,175 | 11,786 | -9,392 | -9,767 | -36,687 | 15,409 | -31,089 | -40,437 | -28,352 |
CASH FLOWS FROM INVESTING ACTIVITIES: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Sales of investments | 695 | 549 | 457 | 550 | 445 | 399 | 358 | 718 | 2,251 | 1,920 | 2,856 |
Purchases of investments | -409 | -542 | -438 | -505 | -442 | -389 | -360 | -505 | -1,894 | -1,696 | -2,943 |
Acquisitions, net | ' | ' | ' | ' | ' | ' | ' | -1,822 | ' | -1,822 | ' |
Proceeds from sales of property, equipment and software | 67 | 43 | 15 | 187 | 5,419 | 1,379 | 375 | 485 | 312 | 7,658 | 3,795 |
Purchases of property, equipment, and software | -4,706 | -2,765 | -1,760 | -2,391 | -3,165 | -4,627 | -2,960 | -2,950 | -11,622 | -13,702 | -17,917 |
Net cash used in investing activities | -4,353 | -2,715 | -1,726 | -2,159 | 2,257 | -3,238 | -2,587 | -4,074 | -10,953 | -7,642 | -14,209 |
CASH FLOWS FROM FINANCING ACTIVITIES: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
(Increase) decrease in cash restricted as collateral for borrowings | -614 | 141 | 4,293 | -24 | -328 | 292 | -18 | -1,337 | 3,796 | -1,391 | -3,761 |
Net change in short-term borrowings | 2,357 | 9,975 | 19,937 | -9,935 | 1,435 | 18,415 | 20,312 | -7,708 | 22,334 | 32,454 | 40,063 |
Repayment of long-term debt | -265 | -187 | -174 | -209 | -183 | -178 | -175 | -172 | -835 | -708 | -652 |
Net cash provided by financing activities | 1,478 | 9,929 | 24,056 | -10,168 | 924 | 18,529 | 20,119 | -9,217 | 25,295 | 30,355 | 35,650 |
Effect of exchange rate changes on cash and cash equivalents | 1,616 | -51 | 251 | -438 | -424 | -831 | 1,181 | -287 | 1,378 | -360 | 394 |
Net decrease in cash and cash equivalents | -10,275 | -14,521 | 10,406 | -979 | -6,635 | 4,693 | -17,974 | 1,832 | -15,369 | -18,084 | -6,517 |
Cash and cash equivalents, beginning of year | 21,389 | 35,910 | 25,504 | 26,483 | 33,118 | 28,425 | 46,399 | 44,567 | 26,483 | 44,567 | 51,084 |
Cash and cash equivalents, end of year | 11,114 | 21,389 | 35,910 | 25,504 | 26,483 | 33,118 | 28,425 | 46,399 | 11,114 | 26,483 | 44,567 |
Cash paid during the year: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest expense | 811 | 703 | 703 | 708 | 732 | 740 | 697 | 697 | 2,925 | 2,866 | 2,585 |
Income taxes | $999 | $905 | $665 | $8,253 | $1,246 | $786 | $833 | $875 | $10,822 | $3,740 | $5,857 |
Business
Business | 12 Months Ended |
Nov. 03, 2013 | |
Accounting Policies [Abstract] | ' |
Business | ' |
NOTE 1: Business | |
Volt Information Sciences, Inc. (the “Company”) is an international provider of staffing services (traditional time and materials based as well as project based), contact center computer systems, information technology and telecommunications infrastructure services, and telephone directory publishing and printing in Uruguay. Our staffing services include a suite of workforce solutions that include providing contingent personnel, personnel recruitment services, and managed staffing services programs supporting primarily professional administration, technical, information technology and engineering positions. Our contact center computer systems provide the functionality for telecommunications company directory assistance services and for corporate and government call centers, operator services, and database management. Our information technology infrastructure services provide a single-source alternative to original equipment manufacturer and other independent IT service providers for server, storage, network and desktop IT hardware maintenance, data center and network monitoring and operations, and designing, deploying and supporting corporate technology upgrade and refresh programs, as well as design, engineering, construction, installation and maintenance of voice, data, video and utility infrastructure. The Company was incorporated in New York in 1957. The Company’s common stock trades on the over-the-counter market under the symbol “VISI”. |
Summary_of_Significant_Account
Summary of Significant Accounting Policies | 12 Months Ended | ||
Nov. 03, 2013 | |||
Accounting Policies [Abstract] | ' | ||
Summary of Significant Accounting Policies | ' | ||
NOTE 2: Summary of Significant Accounting Policies | |||
(a) | Fiscal Year | ||
The Company’s fiscal year ends on the Sunday nearest October 31st. The 2013 fiscal year consists of 53 weeks while the 2012 and 2011 fiscal years consisted of 52 weeks. As a result, the fourth quarter of fiscal 2013 included an additional week. | |||
(b) | Consolidation | ||
The consolidated financial statements include the accounts of the Company and all subsidiaries over which the Company exercises control. All intercompany balances and transactions have been eliminated in consolidation. The Company accounts for investments over which it has significant influence but not a controlling financial interest using the equity method of accounting. | |||
(c) | Use of Estimates | ||
The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. On an ongoing basis, the Company evaluates its estimates, assumptions and judgments, including those related to revenue recognition, allowance for doubtful accounts, contract costing and reserves, valuation of goodwill, intangible assets and other long-lived assets, business combinations, stock compensation, employee benefit plans, restructuring accruals, income taxes and related valuation allowances and loss contingencies. Actual results could differ from those estimates and changes in estimates are reflected in the period in which they become known. | |||
(d) | Revenue Recognition | ||
Revenue is generally recognized when persuasive evidence of an arrangement exists, products have been delivered or services have been rendered, the fee is fixed or determinable, and collectability is reasonably assured. For arrangements within the scope of the multiple-deliverable guidance, a deliverable constitutes a separate unit of accounting when it has stand-alone value and there are no customer-negotiated refunds or return rights for the delivered elements. For multiple-element arrangements, composed only of hardware products and related services or only services, we allocate revenue to each element in an arrangement based on a selling price hierarchy. The selling price for a deliverable is based on its vendor-specific objective evidence (“VSOE”) if applicable, third-party evidence (“TPE”) if VSOE is not available, or estimated selling price (“ESP”), if neither VSOE nor TPE is available. Total transaction revenue is allocated to the multiple elements based on each element’s relative selling price compared to the total selling price. | |||
Services are sometimes provided despite a customer arrangement not yet being finalized. In these cases revenue is deferred until arrangements are finalized or in some cases until cash is received. The cumulative revenue deferred for each arrangement is recognized in the period the revenue recognition criteria are met. The following revenue recognition policies define the manner in which the Company accounts for specific transaction types: | |||
Staffing Services | |||
Revenue is primarily derived from supplying contingent staff to the Company’s customers or providing other services on a time and material basis. Contingent staff primarily consist of contingent employees working under a contract for a fixed period of time or on a specific customer project. Revenue is also derived from permanent placement services, which is generally recognized after placements are made and when the fees are not contingent upon any future event. | |||
Reimbursable costs, including those related to travel and out-of-pocket expenses, are also included in net revenue, and equivalent amounts of reimbursable costs are included in direct cost of staffing services revenue. | |||
Under certain of the Company’s service arrangements, contingent staff is provided to customers through contracts involving other vendors or contractors. When the Company is the principal in the transaction and therefore the primary obligor for the contingent staff, it records the gross amount of the revenue and expense from the service arrangement. When the Company acts only as an agent for the customer and is not the primary obligor for the contingent staff, it records revenue net of vendor or contractor costs. | |||
The Company is generally the primary obligor when it is responsible for the fulfillment of the services under the contract, even if the contingent workers are neither employees of the Company nor directly contracted by the Company. Usually in these situations the contractual relationship with the vendors and contractors is exclusively with the Company and the Company bears customer credit risk and generally has latitude in establishing vendor pricing and has discretion in vendor or contractor selection. | |||
The Company is generally not the primary obligor when it provides comprehensive administration of multiple vendors for customers that operate significant contingent workforces, referred to as Managed Service Programs. The Company is considered an agent in these transactions if it does not have responsibility for the fulfillment of the services by the vendors or contractors (referred to as associate vendors). In such arrangements the Company is typically designated by its customers to be a facilitator of consolidated associate vendor billing and a processor of the payments to be made to the associate vendors on behalf of the customer. Usually in these situations the contractual relationship is between the customers, the associate vendors and the Company, with the associate vendors being the primary obligor and assuming the customer credit risk and the Company generally earning negotiated fixed mark-ups and not having discretion in supplier selection. | |||
Software Systems | |||
Revenue primarily relates to sales of telephone operator services-related software systems and enhancements to existing systems. These arrangements generally contain multiple elements including the software development and customization, sale of software licenses and computer hardware, installation, implementation and integration services, as well as post-contract customer support (“PCS”). Revenues are recognized under these arrangements following the Financial Accounting Standards Boards (“FASB”) revenue recognition requirements, including guidance on software transactions, construction contracts and multiple element arrangements. Under these requirements, the aggregate arrangement fee for multiple element arrangements is required to be allocated to each of the elements in an amount equal to its fair value, generally based upon VSOE of fair value. Fees allocated to each element of the arrangement are then recognized as revenue when all other revenue recognition criteria have been met. As the Company has not established VSOE of fair value for the elements of these arrangements (including PCS and installation services), all revenue for these arrangements is deferred until customer acceptance of the delivered elements is received and the only undelivered elements are services that are not essential to the functionality of the software solution. At that time, revenue recognition commences and the arrangement fee is recognized ratably over the element with the longest remaining period of performance of the arrangement, which is typically the PCS period. The customer is generally invoiced upon delivery of the individual elements which typically results in cash being collected prior to revenue being recognized. | |||
Database Access Services | |||
Revenue from stand-alone arrangements to access the Company’s proprietary telephone listing and other information databases by telephone companies, inter-exchange carriers and non-telecommunications customers is recognized over the period access is provided, based on fixed minimum fees or variable fees based on the volume of activity, provided that all other revenue recognition criteria are met. | |||
Maintenance and Information Technology Infrastructure Services | |||
Revenue from stand-alone PCS, hardware maintenance, and computer and network operations infrastructure services under fixed-price contracts is generally recognized ratably over the contract period, provided that all other revenue recognition criteria are met, and the cost associated with these contracts is recognized as incurred. For time and material contracts, the Company recognizes revenue and costs as services are rendered, provided that all other revenue recognition criteria are met. | |||
Engineering and Construction Services | |||
Revenue from performing engineering and construction services is recognized either on the completed contract method for those contracts that are of a short-term nature, or on the percentage-of-completion method, measuring progress using the cost-to-cost method, provided that all other revenue recognition criteria are met. Known or anticipated losses on contracts are provided for in the period they become evident. Claims and change orders that are in the process of being negotiated with customers for additional work or changes in the scope of work are included in the estimated contract value when it is deemed probable that the claim or change order will result in additional contract revenue and such amount can be reliably estimated. | |||
(e) | Expense Recognition | ||
Direct Cost of Staffing Services Revenue | |||
Direct Cost of Staffing Services Revenue consists primarily of contingent employee payroll, related employment taxes and benefits, and the cost of facilities used by contingent employees in fulfilling assignments and projects for staffing services customers, including reimbursable costs. Indirect cost of staffing services revenue is included in Selling, Administrative and Other Operating Costs. The direct costs differ from the selling, administrative and other operating costs in that they arise specifically and directly from the actions of providing staffing services to customers. | |||
Cost of Other Revenue | |||
Cost of Other Revenue consists of the direct and indirect cost of providing non-staffing services, which include payroll and related employment taxes, benefits, materials, data costs, and equipment rental costs. | |||
Selling, Administrative and Other Operating Costs | |||
Selling, Administrative and Other Operating Costs primarily relate to the Company’s selling and administrative efforts as well as the indirect costs associated with providing staffing services. | |||
(f) | Research and Development | ||
Research and development costs include certain expenditures on research, development and engineering for products that will be sold or licensed, as well as internal use software. Software development costs related to software that will be sold or licensed externally to third parties and that qualify for capitalization are not material and, accordingly are expensed as incurred. Costs for software that will be used for internal purposes and are incurred during the preliminary project activities and post-implementation activities are recorded as research and development expense as incurred. Research and development costs are included in Selling, Administrative and Other Operating Costs. | |||
(g) | Comprehensive Income (Loss) | ||
Comprehensive income (loss) is the net income (loss) of the Company combined with other changes in stockholders’ equity not involving ownership interest changes. For the Company, such other changes include foreign currency translation and mark-to-market adjustments related to available-for-sale securities. | |||
(h) | Cash and Cash Equivalents | ||
The Company considers all highly liquid investments with a maturity of three months or less when purchased to be cash equivalents. | |||
(i) | Short-Term Investments and Related Deferred Compensation | ||
The Company has a nonqualified deferred compensation and supplemental savings plan that permits eligible employees to defer a portion of their salary. The employee salary deferral is invested in short-term investments corresponding to the employees’ investment selections, primarily mutual funds, which are held in a trust and are reported at current market prices. The liability associated with the nonqualified deferred compensation and supplemental savings plan consists of participant deferrals and earnings thereon, and is reflected as a current liability within accrued compensation in an amount equal to the fair value of the underlying short-term investments held in the plan. Changes in asset values result in offsetting changes in the liability as the employees realize the rewards and bear the risks of their investment selections. | |||
(j) | Property, Equipment and Software | ||
Property and equipment are stated at cost and depreciation is calculated on the straight-line method over the estimated useful lives of the assets. Costs for software that will be used for internal purposes and incurred during the application development stage are capitalized and amortized to expense over the estimated useful life of the underlying software. Training and maintenance costs are expensed as incurred. | |||
The major classifications of property, equipment and software, including their respective expected useful lives, consisted of the following: | |||
Buildings | 25 to 32 years | ||
Machinery and Equipment | 3 to 15 years | ||
Leasehold improvements | Shorter of length of lease or life of the asset | ||
Software | 3 to 7 years | ||
Property, equipment and software are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable or it is no longer probable that software development will be completed. If circumstances require a long-lived asset or asset group be reviewed for possible impairment, the Company first compares undiscounted cash flows expected to be generated by each asset or asset group to its carrying value. If the carrying value of the long-lived asset or asset group is not recoverable on an undiscounted cash flow basis, an impairment is recognized to the extent that the carrying value exceeds the fair value. | |||
(k) | Purchased Intangible Assets, Net and Goodwill | ||
Intangible Assets | |||
Intangible assets with finite useful lives consist primarily of customer relationships which are amortized on a straight line basis over 5 to 8 years. Intangible assets with finite useful lives are reviewed for impairment and the useful lives are reassessed whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. If circumstances require a long-lived asset or asset group be tested for possible impairment, the Company first compares undiscounted cash flows expected to be generated by that asset or asset group to its carrying value. If the carrying value of the long-lived asset or asset group is not recoverable on an undiscounted cash flow basis, an impairment is recognized to the extent that the carrying value exceeds its fair value. | |||
Goodwill | |||
Goodwill represents the future economic benefits arising from assets acquired in a business combination that are not individually identified and separately recognized. In 2011, the Company adopted the method of assessing goodwill for possible impairment permitted by ASU No. 2011-08, Intangibles – Goodwill and Other as described in the following paragraph. | |||
The Company first assesses the qualitative factors for reporting units that carry goodwill. If the qualitative assessment results in a conclusion that it is more likely than not that the fair value of a reporting unit exceeds the carrying value, then no further testing is performed for that reporting unit. | |||
When a qualitative assessment is not used, or if the qualitative assessment is not conclusive and it is necessary to calculate fair value of a reporting unit, then the impairment analysis for goodwill is performed at the reporting unit level using a two-step approach. The first step of the goodwill impairment test is used to identify potential impairment by comparing the fair value of a reporting unit with its carrying amount, including goodwill utilizing an enterprise-value based premise approach. If the fair value of the reporting unit exceeds its carrying value, step two does not need to be performed. | |||
If the fair value of the reporting unit is less than its carrying value, an indication of goodwill impairment exists for the reporting unit and the entity must perform step two of the impairment test (measurement). Under step two, an impairment loss is recognized for any excess of the carrying amount of the reporting unit’s goodwill over the implied fair value of that goodwill. The implied fair value of goodwill is determined by allocating the fair value of the reporting unit in a manner similar to a purchase price allocation and the residual fair value after this allocation is the implied fair value of the reporting unit goodwill. Fair value of the reporting unit is determined by using various valuation techniques including income (discounted cash flow), market and/or consideration of recent and similar purchase acquisition transactions. | |||
The Company performs its annual impairment review of goodwill in its second fiscal quarter and when a triggering event occurs between annual impairment tests. | |||
(l) | Income Taxes | ||
Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases as well as for operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using current tax laws and rates in effect for the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. The Company must then assess the likelihood that its deferred tax assets will be realized. If the Company does not believe that it is more likely than not that its deferred tax assets will be realized, a valuation allowance is established. When a valuation allowance is increased or decreased, a corresponding tax expense or benefit is recorded. | |||
Accounting for income taxes involves uncertainty and judgment in how to interpret and apply tax laws and regulations within the Company’s annual tax filings. Such uncertainties may result in tax positions that may be challenged and overturned by a tax authority in the future which would result in additional tax liability, interest charges and possible penalties. Interest and penalties are classified as a component of income tax expense. | |||
The Company recognizes the effect of income tax positions only if those positions are more likely than not of being sustained. Recognized income tax positions are measured at the largest amount that is greater than 50% likely of being realized upon ultimate settlement. Changes in recognition or measurement are reflected in the period in which the change in estimate occurs. | |||
(m) | Share-Based Compensation | ||
The Company recognizes all employee share-based compensation as a cost in the financial statements. Equity awards are measured at the grant date fair value of the award. The Company determines grant date fair value of stock option awards using the Black-Scholes option-pricing model. The fair value of restricted stock awards are determined using the closing price of the Company’s common stock on the grant date. Expense is recognized over the requisite service period based on the number of options or shares expected to ultimately vest. Forfeitures are estimated at the date of grant and revised when actual or expected forfeiture activity differs materially from original estimates. | |||
Excess tax benefits of awards that are recognized in equity related to stock option exercises are reflected as financing cash inflows in the consolidated statement of cash flows. | |||
(n) | Foreign Currency Translation | ||
Assets and liabilities of non-U.S. subsidiaries that operate in a local currency environment, where that local currency is the functional currency, are translated to U.S. dollars at exchange rates in effect at the balance sheet date. Income and expense accounts are translated at average exchange rates during the year which approximate the rates in effect at the transaction dates. The resulting translation adjustments are directly recorded to a separate component of accumulated other comprehensive income (loss). Gains and losses arising from intercompany foreign currency transactions that are of a long-term nature are reported in the same manner as translation adjustments. Gains and losses arising from intercompany foreign currency transactions that are not of a long-term nature and certain transactions of the Company’s subsidiaries which are denominated in currencies other than the subsidiaries’ functional currency are recognized as incurred in Foreign Exchange Gain (Loss), Net in the Consolidated Statements of Operations. | |||
(o) | Fair Value Measurement | ||
In accordance with Accounting Standards Codification (“ASC”) “Fair Value Measurements” (“ASC 820”), the Company utilizes valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs to the extent possible. The Company determines fair value based on assumptions that market participants would use in pricing an asset or liability in the principal or most advantageous market. Fair value is defined as the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When considering market participant assumptions in fair value measurements, the following fair value hierarchy distinguishes between observable and unobservable inputs, which are categorized in one of the following levels: | |||
Level 1: Quoted market prices in active markets for identical assets or liabilities. | |||
Level 2: Quoted prices in active markets for similar assets and liabilities, quoted prices for identically similar assets or liabilities in markets that are not active and models for which all significant inputs are observable either directly or indirectly. | |||
Level 3: Unobservable inputs reflecting the reporting entity’s own assumptions or external inputs for inactive markets. | |||
The Company uses this framework for measuring fair value and disclosures about fair value measurement. The Company uses fair value measurements in areas that include: the allocation of purchase price consideration to tangible and identifiable intangible assets; impairment testing for goodwill and long-lived assets; share-based compensation arrangements and financial instruments. The carrying amounts of the Company’s financial instruments, which include cash, cash equivalents, restricted cash, accounts receivable, accounts payable, and short-term borrowings under the Company’s credit facilities, approximated their fair values, due to the short-term nature of these instruments, and the fair value of the long-term debt is based on the interest rates the Company believes it could obtain for borrowings with similar terms. | |||
The Company recognizes transfers between levels of the fair value hierarchy on the date of the event or change in circumstances that caused the transfer. | |||
(p) | Legal and Other Contingencies | ||
The Company is involved in various demands, claims and actual and threatened litigation that arise in the normal course of business. If the potential loss from any claim or legal proceeding is considered probable and the amount can be reasonably estimated, a liability and an expense are recorded for the estimated loss. Significant judgment is required in both the determination of probability and the determination of whether an exposure is reasonably estimable. Actual expenses could differ from these estimates in subsequent periods as additional information becomes known. | |||
(q) | Concentrations of Credit Risk | ||
Cash and cash equivalents are maintained with several financial institutions and deposits held with banks may exceed the amount of insurance provided on such deposits. Generally, these deposits may be redeemed upon demand and the Company mitigates its credit risk by spreading its deposits across multiple financial institutions and monitoring their respective risk profiles. | |||
(r) | Restructuring Charges | ||
The Company accounts for restructuring activities in accordance with ASC 420, Exit or Disposal Cost Obligations. Under the guidance, for the cost of restructuring activities that do not constitute a discontinued operation, the liability for the current fair value of expected future costs associated with such restructuring activity shall be recognized in the period in which the liability is incurred. We segregate the costs of restructuring activities taken pursuant to a management approved restructuring plan. | |||
(s) | Hedging Activities | ||
On a limited basis, the Company enters into derivative and nonderivative (short-term foreign denominated debt) instruments as an economic hedge of its net investment in certain foreign subsidiaries. All derivative instruments are recognized as either assets or liabilities at their respective fair values. For the nonderivative instruments, the Company measures the foreign denominated short-term borrowings based on period-end exchange rates. The Company does not designate and document these instruments as hedges under ASC 815 “Derivatives and Hedging”. As a result, gains and losses associated with these instruments are recognized in Foreign Exchange Gain (Loss), net in our consolidated statements of operations. | |||
(t) | Earnings (Loss) Per Share | ||
Basic earnings per share is calculated by dividing net earnings by the weighted-average number of common shares outstanding during the period. The diluted earnings per share computation includes the effect, if any, of shares that would be issuable upon the exercise of outstanding stock options and restricted stock units, reduced by the number of shares which are assumed to be purchased by the Company from the resulting proceeds at the average market price during the year, when such amounts are dilutive to the earnings per share calculation. | |||
(u) | Treasury Stock | ||
The Company records treasury stock at the cost to acquire it and includes treasury stock as a component of stockholders’ equity. | |||
(v) | Reclassifications | ||
Certain reclassifications have been made to the prior year financial statements in order to conform to the current year’s presentation. | |||
(w) | New Accounting Pronouncements | ||
From time to time, new accounting pronouncements are issued by the FASB or other standard setting bodies. Unless otherwise discussed, the Company believes that the impact 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. | |||
Recently Adopted Accounting Standards | |||
In December 2010, the FASB issued ASU 2010-28 Intangibles – Goodwill and Other (Topic 350): When to Perform Step 2 of the Goodwill Impairment Test for Reporting Units with Zero or Negative Carrying Value. For reporting units with zero or negative carrying value, an entity is required to perform Step 2 of the goodwill impairment test if it is more likely than not that a goodwill impairment exists. In determining whether it is more likely than not that a goodwill impairment exists, an entity must consider whether there are any adverse qualitative factors indicating an impairment may exist. The guidance became effective for fiscal years, and interim periods within those years, beginning after December 15, 2010. The Company adopted the guidance on the first day of fiscal 2012. The adoption of the guidance did not have an impact on the Company’s financial statements. | |||
In May 2011, the FASB issued ASU 2011-04, Fair Value Measurements (Topic 820): Amendments to Achieve Common Fair Value Measurements and Disclosure Requirements in U.S. GAAP and IFRS. The amendment explains how to measure fair value and will improve the comparability of fair value measurement presented and disclosed in financial statements prepared in accordance with GAAP and IFRS. This authoritative guidance was to be applied prospectively and was effective during interim and annual periods beginning after December 15, 2011. The adoption of this guidance during the second quarter of fiscal 2012 did not have an impact on the Company’s financial statements. | |||
New Accounting Standards Not Yet Adopted by the Company | |||
In December 2011, the FASB issued ASU 2011-11, Balance Sheet (Topic 210): Disclosure About Offsetting Assets and Liabilities, which requires entities to disclose both gross and net information about both instruments and transactions eligible for offset in the statement of financial position and instruments and transactions subject to an agreement similar to a master netting agreement. In January 2013, the FASB issued ASU 2013-01, Balance Sheet (Topic 210) – Clarifying the Scope of Disclosures About Offsetting Assets and Liabilities, which clarifies that the scope of ASU No. 2011-11 applies to derivatives accounted for in accordance with Topic 815, “Derivatives and Hedging,” including bifurcated embedded derivatives, repurchase agreements and reverse repurchase agreements, and securities borrowing and securities lending transactions that are either offset or subject to an enforceable master netting arrangement or similar arrangement. This ASU, as amended, became effective in our first quarter of fiscal year 2014 and will be applied retrospectively for all comparable periods presented. As we do not have any of the aforementioned derivative instruments, adoption of this ASU in fiscal 2014, as amended, will not have any impact on our consolidated financial statements. | |||
In February 2013, the FASB issued ASU 2013-02, Comprehensive Income (Topic 220): Reporting of Amounts Reclassified out of Accumulated Other Comprehensive Income. The new guidance requires an entity to provide information about the changes in accumulated other comprehensive income by component. An entity is also required to present significant amounts reclassified out of accumulated other comprehensive income by the respective line items of net income. The amendments are effective prospectively for reporting periods beginning after December 15, 2012. The Company expects to adopt this guidance effective fiscal 2014. The adoption of the guidance is not expected to have a material impact on the consolidated financial statements. | |||
In March 2013, the FASB issued ASU 2013-05 Foreign Currency Matters (Topic 830): Parent’s Accounting for the Cumulative Translation Adjustment upon Derecognition of Certain Subsidiaries or Group Assets within a Foreign Entity or of an Investment in a Foreign Entity. The new guidance requires that currency translation adjustments should be released into net income only if the sale of a foreign subsidiary results in the complete liquidation of the entity. For an equity method investment that is a foreign entity, a pro rata portion of the currency translation adjustments should be released into net income upon a partial sale of such an equity method investment. The new guidance also clarifies that the sale of an investment in a foreign entity includes both (1) events that result in the loss of a controlling financial interest in the foreign entity and (2) events that result in an acquirer’s obtaining control of an acquiree in which it held an equity interest immediately before the acquisition date, otherwise known as a “step acquisition.” Accordingly, the cumulative translation adjustment should be released into net income upon the occurrence of those events. The amendments are effective prospectively for fiscal years (and interim reporting periods within those years) beginning after December 15, 2013. The Company expects to adopt this guidance effective fiscal 2015. The Company is currently assessing the impact of the adoption of this guidance on the consolidated financial statements. | |||
In July 2013, the FASB issued ASU No. 2013-11, Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists. This new guidance provides specific financial statement presentation requirements of an unrecognized tax benefit when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists. The guidance states that an unrecognized tax benefit in those circumstances should be presented as a reduction to the deferred tax asset. This guidance is effective for fiscal years, and interim periods within those years, beginning after December 15, 2013. Early adoption is permitted. The Company does not believe that the adoption of this guidance will have a material impact on its consolidated financial statements. |
Restricted_Cash
Restricted Cash | 12 Months Ended |
Nov. 03, 2013 | |
Cash And Cash Equivalents [Abstract] | ' |
Restricted Cash | ' |
NOTE 3: Restricted Cash | |
Restricted cash 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 associated with the Company’s Short-Term Credit Facility. 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 for credit facilities is reflected in financing activities while changes in restricted cash under managed service programs is classified as an operating activity, as this cash is directly related to the operations of this business. | |
At November 3, 2013 and October 28, 2012 restricted cash included $15.6 million and $26.3 million, respectively, restricted for payment to associate vendors and $31.8 million and $35.6 million, respectively, restricted as collateral under the Short-Term Credit Facility. |
Fair_Value_of_Financial_Instru
Fair Value of Financial Instruments | 12 Months Ended | ||||||||||||
Nov. 03, 2013 | |||||||||||||
Investments All Other Investments [Abstract] | ' | ||||||||||||
Fair Value of Financial Instruments | ' | ||||||||||||
NOTE 4: Fair Value of Financial Instruments | |||||||||||||
The following table presents assets and liabilities measured at fair value (in thousands): | |||||||||||||
November 3, | October 28, | Fair Value | |||||||||||
2013 | 2012 | Hierarchy | |||||||||||
Short-term investments | $ | 6,144 | $ | 5,611 | Level 1 | ||||||||
Total financial assets | $ | 6,144 | $ | 5,611 | |||||||||
Deferred compensation plan liabilities | $ | 6,041 | $ | 5,536 | Level 1 | ||||||||
Total financial liabilities | $ | 6,041 | $ | 5,536 | |||||||||
The fair value of the deferred compensation plan liabilities is based on the fair value of the investments corresponding to the employees’ investment selections, primarily in mutual funds, based on quoted prices in active markets for identical assets. The deferred compensation plan liability is recorded in Accrued Compensation. | |||||||||||||
Short-term investments also includes available for sale securities of $0.1 million at November 3, 2013 and October 28, 2012. | |||||||||||||
The Company has a term loan with borrowings at fixed interest rates, and our interest expense related to this borrowing is not affected by changes in interest rates in the near term. The fair value of the term loan was calculated by applying the appropriate fiscal year-end interest rates to our present streams of loan payments. | |||||||||||||
November 3, 2013 | |||||||||||||
(in 000’s) | Carrying | Estimated | Fair Value | ||||||||||
Amount | Fair Value | Hierarchy | |||||||||||
Long-Term Debt, including current portion | $ | 8,966 | $ | 9,956 | Level II | ||||||||
There have been no changes in the methodology used to fair value the financial instruments as well as no transfers between levels during the fiscal years ended November 3, 2013 and October 28, 2012. |
Trade_Accounts_Receivable
Trade Accounts Receivable | 12 Months Ended | ||||||||||||||||
Nov. 03, 2013 | |||||||||||||||||
Receivables [Abstract] | ' | ||||||||||||||||
Trade Accounts Receivable | ' | ||||||||||||||||
NOTE 5: Trade Accounts Receivable | |||||||||||||||||
Trade accounts receivable includes both billed and unbilled amounts due from customers. Billed trade receivables generally do not bear interest and are recorded at the amount invoiced less amounts for which revenue has been deferred because customer arrangements are not finalized. Unbilled receivables represent accrued revenue earned and recognized on contracts for which billings have not yet been presented to the customer. At November 3, 2013 and October 28, 2012 trade accounts receivable included unbilled receivables of $30.4 million and $31.2 million, respectively. | |||||||||||||||||
The Company maintains an allowance for doubtful accounts for estimated losses inherent in its accounts receivable portfolio. In establishing the required allowance, management considers historical losses adjusted to take into account current market conditions, customers’ financial condition, and current receivable aging and payment patterns. Additions to the allowance for doubtful accounts are recorded to Selling, Administrative and Other Operating Costs. The Company also maintains a sales allowance for specific customers related to volume discounts and billing disputes. The amount of the sales allowance is determined based on discount estimates and historical credits issued and additions to the sales allowance are recorded as a reduction to net revenue. Account balances are written off against the allowances when the Company believes it is probable the amount will not be received. | |||||||||||||||||
For the years ended November 3, 2013, October 28, 2012 and October 30, 2011, the activity in the allowance accounts is as follows (in thousands): | |||||||||||||||||
Balance at | Provision / (Release) | Deductions | Balance at end | ||||||||||||||
beginning of year | of year | ||||||||||||||||
Year Ended November 3, 2013: | |||||||||||||||||
Sales allowance | $ | 544 | $ | (183) | $ | (42) | $ | 319 | |||||||||
Allowance for doubtful accounts | 1,355 | 562 | (425) | 1,492 | |||||||||||||
Total | $ | 1,899 | $ | 379 | $ | (467) | $ | 1,811 | |||||||||
Balance at | Provision / (Release) | Deductions | Balance at end | ||||||||||||||
beginning of year | of year | ||||||||||||||||
Year Ended October 28, 2012: | |||||||||||||||||
Sales allowance | $ | 1,169 | $ | (618) | $ | (7) | $ | 544 | |||||||||
Allowance for doubtful accounts | 1,154 | 732 | (531) | 1,355 | |||||||||||||
Total | $ | 2,323 | $ | 114 | $ | (538) | $ | 1,899 | |||||||||
Balance at | Provision / (Release) | Deductions | Balance at end | ||||||||||||||
beginning of year | of year | ||||||||||||||||
Year Ended October 30, 2011: | |||||||||||||||||
Sales allowance | $ | 2,484 | $ | (1,288) | $ | (27) | $ | 1,169 | |||||||||
Allowance for doubtful accounts | 503 | 814 | (163) | 1,154 | |||||||||||||
Total | $ | 2,987 | $ | (474) | $ | (190) | $ | 2,323 | |||||||||
Property_Equipment_and_Softwar
Property, Equipment and Software | 12 Months Ended | ||||||||
Nov. 03, 2013 | |||||||||
Property Plant And Equipment [Abstract] | ' | ||||||||
Property, Equipment and Software | ' | ||||||||
NOTE 6: Property, Equipment and Software | |||||||||
Property, equipment and software consisted of (in thousands): | |||||||||
November 3, | October 28, | ||||||||
2013 | 2012 | ||||||||
Land and buildings | $ | 23,298 | $ | 23,399 | |||||
Machinery and equipment | 136,923 | 139,736 | |||||||
Leasehold improvements | 13,181 | 13,051 | |||||||
Less: Accumulated depreciation and amortization | (151,642) | (148,177) | |||||||
Property and equipment | 21,760 | 28,009 | |||||||
Software | 93,262 | 102,120 | |||||||
Less: Accumulated amortization | (77,698) | (91,077) | |||||||
Property, equipment, and software, net | $ | 37,324 | $ | 39,052 | |||||
Depreciation and amortization expense totaled $13.6 million, $15.1 million and $18.3 million for the fiscal years ended 2013, 2012 and 2011, respectively. Depreciation and amortization is included in Direct Cost of Staffing Services Revenue, Cost of Other Revenue and Selling, Administrative and Other Operating Costs in the Consolidated Statements of Operations. | |||||||||
On July 31, 2012, the Company sold a building located in California for $5.1 million in cash, net of related expenses, resulting in a gain of $4.4 million. |
Purchased_Intangible_Assets_Ne
Purchased Intangible Assets, Net and Goodwill | 12 Months Ended | ||||||||||||||||
Nov. 03, 2013 | |||||||||||||||||
Goodwill And Intangible Assets Disclosure [Abstract] | ' | ||||||||||||||||
Purchased Intangible Assets, Net and Goodwill | ' | ||||||||||||||||
NOTE 7: Purchased Intangible Assets, Net and Goodwill | |||||||||||||||||
Purchased intangible assets, excluding goodwill, as of November 3, 2013 and October 28, 2012 are summarized as follows (in thousands): | |||||||||||||||||
November 3, 2013 | |||||||||||||||||
Gross Carrying | Accumulated | Net Carrying | Weighted Average | ||||||||||||||
Amount | Amortization | Amount | Remaining Life (Years) | ||||||||||||||
Finite-lived customer relationships | $ | 7,963 | $ | (7,070) | $ | 893 | 0.7 | ||||||||||
Indefinite-lived tradename | 495 | - | 495 | ||||||||||||||
Total | $ | 8,458 | $ | (7,070) | $ | 1,388 | |||||||||||
28-Oct-12 | |||||||||||||||||
Gross Carrying | Accumulated | Net Carrying | Weighted Average | ||||||||||||||
Amount | Amortization | Amount | Remaining Life (Years) | ||||||||||||||
Finite-lived customer relationships | $ | 7,963 | $ | (5,701) | $ | 2,262 | 1.7 | ||||||||||
Indefinite-lived tradename | 495 | - | 495 | ||||||||||||||
Total | $ | 8,458 | $ | (5,701) | $ | 2,757 | |||||||||||
The following represents the change in the carrying amount of goodwill during each fiscal year (in thousands): | |||||||||||||||||
Staffing Services | |||||||||||||||||
2013 | 2012 | ||||||||||||||||
Aggregate goodwill acquired | $ | 10,644 | $ | 10,666 | |||||||||||||
Accumulated impairment losses | (2,756) | (2,756) | |||||||||||||||
Foreign currency translation adjustment | (175) | (22) | |||||||||||||||
Goodwill, net of impairment losses | $ | 7,713 | $ | 7,888 | |||||||||||||
Accrued_Insurance
Accrued Insurance | 12 Months Ended | ||
Nov. 03, 2013 | |||
Payables And Accruals [Abstract] | ' | ||
Accrued Insurance | ' | ||
NOTE 8: Accrued Insurance | |||
(a) | Casualty Insurance Program | ||
Workers’ compensation insurance is purchased through mandated participation in certain state funds, and the experience-rated premiums in these state plans relieve the Company of any additional liability. Liability for workers’ compensation in all other states as well as automobile and general liability is insured under a retrospective experience-rated insurance program for losses exceeding specified deductible levels and the Company is self-insured for losses below the specified deductible limits. | |||
The Company makes premium payments based upon an estimate of the ultimate underlying exposure, such as the amount and type of labor utilized. The premiums are subsequently adjusted based on actual claims experience. The experience modification process includes establishing loss development factors, based on the Company’s historical claims experience as well as industry experience, and applying those factors to current claims information to derive an estimate of the Company’s ultimate claims liability. Adjustments to final paid premiums are determined as of a future date up to three years after the end of the respective policy year, using actual claims paid and incurred. Under the insurance program, any additional losses incurred greater than the policy deductible limit arising from claims associated with an insurance policy are absorbed by the insurer and not the Company. | |||
The Company recognizes expense and establishes accruals for amounts estimated to be incurred up to the policy deductible, both reported and not yet reported, and for related legal and other costs. The Company develops estimates for losses incurred but not yet reported using actuarial principles and assumptions based on historical and projected claim incidence patterns, claim size and the length of time over which payments are expected to be made. Actuarial estimates are updated as loss experience develops, additional claims are reported or settled and new information becomes available. Any changes in estimates are reflected in operating results in the period in which the estimates are changed. Expense recognized by the Company under its casualty insurance program amounted to $15.7 million, $14.3 million, and $13.4 million in fiscal years 2013, 2012, and 2011, respectively. | |||
(b) | Medical Insurance Programs | ||
The Company is self-insured for a majority of its medical benefit programs for contingent and internal employees. Eligible contingent staff on assignment with customers are offered medical benefits through a fully insured program administered through a third party. While the Company provides the majority of medical benefits for internal staff through a self-insured arrangement with a third-party administrator, it also maintains insurance coverage for a portion of that medical program (primarily through HMOs) as well as the entire dental program. Employees contribute a portion of the cost of these medical benefit programs. | |||
The liability for the self-insured medical benefits is limited on a per claimant basis through the purchase of stop-loss insurance. The Company’s retained liability for the self-insured medical benefits is determined utilizing actuarial estimates of expected losses based on statistical analyses of historical data. Amounts contributed by employees and additional amounts necessary to fund the self-insured program administered by the third party are transferred to a 501(c)(9) employee welfare benefit trust. Accordingly, these amounts, other than the current liabilities for the employee contributions and expected loss amounts not yet remitted to the trust, do not appear on the Consolidated Balance Sheet of the Company. The Company records the expense associated with the expected losses, net of employee contributions, in Direct Cost of Staffing Services Revenue, Cost of Other Revenue, or Selling, Administrative and Other Operating Costs, depending on the employee’s role. Expense recognized by the Company under its self-insured medical benefit programs amounted to $13.6 million, $12.6 million and $7.6 million in fiscal years 2013, 2012, and 2011, respectively. |
Deferred_Revenue_Net
Deferred Revenue, Net | 12 Months Ended |
Nov. 03, 2013 | |
Revenue Recognition [Abstract] | ' |
Deferred Revenue, Net | ' |
NOTE 9: Deferred Revenue, Net | |
Deferred revenue arises primarily related to certain software systems and staffing arrangements. Software systems revenue arises from software development and customization, sale of software licenses and computer hardware, installation, implementation and integration services and PCS. Because the Company is not able to establish the fair value for these various elements, the Company defers all revenue and related direct costs for these arrangements until customer acceptance of delivered elements is received and the only undelivered elements are services that are not essential to the functionality of the software solution. At that time revenue and cost recognition commences and the total arrangement fee is recognized ratably over the remaining period of performance of the arrangement, which is typically the PCS period. Accordingly, cash is generally received in advance of revenue recognition. As of November 3, 2013 and October 28, 2012, the Company had deferred revenue associated with software system sales of $15.7 million and $23.3 million, which is presented net of related deferred costs of $3.8 million and $3.5 million, respectively. | |
Deferred revenue also arises from service arrangements, primarily for staffing services, when services are provided despite the customer arrangement not yet being finalized, typically due to ongoing customer negotiations. In these instances the Company must defer recognition of revenue until arrangements are finalized or in some cases until cash is received. Additionally, certain customer arrangements include performance guarantees and cancellation provisions that result in deferred revenue until the service has been performed and the amounts are not contingent upon future events. As of November 3, 2013 and October 28, 2012, the Company had received payments but deferred the revenue associated with arrangements where customer arrangements were not finalized or the revenue is contingent upon future events of $4.3 million and $8.7 million, respectively. | |
Deferred revenue is classified as current or non-current based on the anticipated period in which the revenue is expected to be recognized. |
Income_Taxes
Income Taxes | 12 Months Ended | ||||||||||||
Nov. 03, 2013 | |||||||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||||||
Income Taxes | ' | ||||||||||||
NOTE 10: Income Taxes | |||||||||||||
Income (loss) before income taxes is derived from (in thousands): | |||||||||||||
Year ended | |||||||||||||
November 3, | October 28, | October 30, | |||||||||||
2013 | 2012 | 2011 | |||||||||||
U.S. Domestic | $ | (27,273) | $ | (18,008) | $ | 3,511 | |||||||
International, principally Europe | (3,133) | 6,796 | 11,770 | ||||||||||
Total | $ | (30,406) | $ | (11,212) | $ | 15,281 | |||||||
Income tax expense (benefit) by taxing jurisdiction consists of (in thousands): | |||||||||||||
Year ended | |||||||||||||
November 3, | October 28, | October 30, | |||||||||||
2013 | 2012 | 2011 | |||||||||||
Current: | |||||||||||||
U.S. Federal | $ | (146) | $ | (558) | $ | 991 | |||||||
State and local | (378) | 75 | (528) | ||||||||||
International, principally Europe | 2,675 | 1,068 | 4,122 | ||||||||||
Total current | $ | 2,151 | $ | 585 | $ | 4,585 | |||||||
Deferred: | |||||||||||||
U.S. Federal | $ | - | $ | - | $ | - | |||||||
State and local | - | - | (2,500) | ||||||||||
International, principally Europe | (1,682) | 1,806 | (2,433) | ||||||||||
Total deferred | (1,682) | 1,806 | (4,933) | ||||||||||
Income tax expense (benefit) | $ | 469 | $ | 2,391 | $ | (348) | |||||||
The difference between the income tax provision (benefit) on income (loss) and the amount computed at the U.S. federal statutory rate is due to (in thousands): | |||||||||||||
Year ended | |||||||||||||
November 3, | October 28, | October 30, | |||||||||||
2013 | 2012 | 2011 | |||||||||||
U.S. federal statutory rate | $ | (10,642) | $ | (3,924) | $ | 5,349 | |||||||
State income tax, net of U.S. federal tax benefits | (1,463) | (95) | 495 | ||||||||||
Income from international sources | 119 | 2,127 | 5,312 | ||||||||||
Foreign permanent differences | (1,539) | (286) | 841 | ||||||||||
International tax rate differentials | 14 | 98 | (1,274) | ||||||||||
General business credits | (4,977) | (2,967) | (5,363) | ||||||||||
Meals and entertainment | 987 | 1,713 | 2,013 | ||||||||||
Foreign tax credit | - | - | (1,857) | ||||||||||
Other, net | 1,258 | (770) | 1,732 | ||||||||||
Change in valuation allowance for deferred tax assets | 16,712 | 6,495 | (7,596) | ||||||||||
Total | $ | 469 | $ | 2,391 | $ | (348) | |||||||
Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes, and also include operating loss carryforwards. The significant components of the Company’s deferred tax assets and liabilities are as follows (in thousands): | |||||||||||||
November 3, | October 28, | ||||||||||||
2013 | 2012 | ||||||||||||
Deferred tax assets: | |||||||||||||
Net operating loss carryforwards | $ | 55,130 | $ | 35,163 | |||||||||
US federal tax credit carryforwards | 27,676 | 20,018 | |||||||||||
Purchased intangible assets | 13,363 | 15,683 | |||||||||||
Deferred income | 10,418 | 13,809 | |||||||||||
Compensation accruals | 7,996 | 7,949 | |||||||||||
Accelerated tax depreciation and amortization | - | 1,538 | |||||||||||
Other accruals, reserves and allowances | 548 | 519 | |||||||||||
Other, net | 3,704 | 5,585 | |||||||||||
Total deferred tax assets | 118,835 | 100,264 | |||||||||||
Less valuation allowance | (100,376) | (82,952) | |||||||||||
Deferred tax assets, net | $ | 18,459 | $ | 17,312 | |||||||||
November 3, | October 28, | ||||||||||||
2013 | 2012 | ||||||||||||
Deferred tax liabilities: | |||||||||||||
Unremitted earnings from foreign subsidiaries | $ | 8,769 | $ | 8,974 | |||||||||
Software development costs | 883 | 891 | |||||||||||
Other, net | 4,783 | 5,139 | |||||||||||
Total deferred tax liabilities | 14,435 | 15,004 | |||||||||||
Net deferred tax asset | $ | 4,024 | $ | 2,308 | |||||||||
Balance sheet classification | |||||||||||||
Current assets | $ | 1,014 | $ | 1,321 | |||||||||
Non-current assets | 9,286 | 6,019 | |||||||||||
Current liabilities | (4,574) | (2,273) | |||||||||||
Non-current liabilities | (1,702) | (2,759) | |||||||||||
Net deferred tax asset | $ | 4,024 | $ | 2,308 | |||||||||
Current deferred tax assets are included in Other Current Assets, non-current deferred tax assets are included in Prepaid Insurance and Other Assets and current deferred tax liabilities are included in Accrued Insurance and Other in the Consolidated Balance Sheets. | |||||||||||||
At November 3, 2013, the Company has available unused U.S. federal net operating loss (NOL) carryforwards of $102.6 million, U.S. state NOL carryforwards of $162.1 million, and international NOL carryforwards of $40.6 million. As of November 3, 2013, the U.S. federal NOL carryforwards will expire at various dates between 2031 and 2033, the U.S. state NOL carryforwards expire at various dates between 2031 and 2033, and the international NOL carryforwards expire at various dates with some indefinite. At November 3, 2013, the undistributed earnings of the Company’s non-U.S. subsidiaries are not intended to be permanently invested outside of the U.S., therefore, U.S. deferred taxes have been provided on the unremitted earnings. | |||||||||||||
A valuation allowance has been recognized due to the uncertainty of realization of the loss carryforwards and other deferred tax assets. Beginning in fiscal year 2010, the Company’s cumulative U.S. domestic and certain non-U.S. results for each three-year period were a loss. Accordingly, the Company recorded a full valuation allowance against its net U.S. domestic and certain net non-U.S. deferred tax assets as a non-cash charge to income tax expense. The cumulative loss continued in fiscal years 2011, 2012, and 2013 so the Company maintained a full valuation allowance against its net U.S. domestic and certain net non-U.S. deferred tax assets resulting in a total valuation allowance of $100.4 million and $83.0 million for fiscal 2013 and fiscal 2012, respectively. In reaching this conclusion, the Company considered the U.S. domestic demand for contingent staffing, software systems and other services and a decline in recent operating results which led to operating losses causing the Company to be in a three-year cumulative loss position. Management believes that the remaining deferred tax assets, primarily related to international locations, are more likely than not to be realized based upon consideration of all positive and negative evidence, including scheduled reversal of deferred tax liabilities and tax planning strategies determined on a jurisdiction by jurisdiction basis. | |||||||||||||
The Company recognizes income tax benefits for tax positions determined more likely than not to be sustained upon examination, based on the technical merits of the positions. The following table sets forth the change in the accrual for uncertain tax positions, excluding interest and penalties (in thousands): | |||||||||||||
November 3, | October 28, | ||||||||||||
2013 | 2012 | ||||||||||||
Balance, beginning of year | $ | 11,072 | $ | 10,287 | |||||||||
Increase related to current year tax provisions | 73 | 1,069 | |||||||||||
Settlements | (313) | - | |||||||||||
Lapse of statute of limitations | (1,636) | (284) | |||||||||||
Total | $ | 9,196 | $ | 11,072 | |||||||||
Of the total unrecognized tax benefits at November 3, 2013 and October 28, 2012, approximately $4.0 million and $5.9 million, respectively, would affect the Company’s effective income tax rate, if and when recognized in future years. The amount accrued for related potential interest and penalties at November 3, 2013 and October 28, 2012 was $2.2 million and $2.5 million, respectively. The Company does not currently anticipate that its existing reserves related to uncertain tax positions as of November 3, 2013 will significantly increase or decrease in subsequent periods; however, various events could cause the Company’s current expectations to change in the future. | |||||||||||||
The Company is subject to taxation at the federal, state and local level in the U.S. and in various international jurisdictions. With few exceptions, the Company is generally no longer subject to examination by the U.S. federal, state, local or non-U.S. income tax authorities for years before fiscal 2004. The Company has been notified that the IRS will be auditing the Company’s U.S. Federal amended income tax returns for fiscal years 2004 – 2010. The audit is expected to start in fiscal 2014 and is not expected to have a material impact on the Company’s financial statements. The Company is currently under examination by the Canada Revenue Authority for tax years 2006-2010. | |||||||||||||
The following describes the open tax years, by major tax jurisdiction, as of November 3, 2013: | |||||||||||||
United States - Federal | 2004-present | ||||||||||||
United States - State | 2004-present | ||||||||||||
Canada | 2006-present | ||||||||||||
Germany | 2006-present | ||||||||||||
United Kingdom | 2006-present |
Debt
Debt | 12 Months Ended | ||||||||
Nov. 03, 2013 | |||||||||
Debt Disclosure [Abstract] | ' | ||||||||
Debt | ' | ||||||||
NOTE 11: Debt | |||||||||
(a) | Short-Term Borrowings | ||||||||
The Company had borrowings at November 3, 2013, of $167.3 million under various short-term credit facilities that provided for up to $245.0 million in borrowings and letters of credit, and under which it was required to maintain cash collateral of $31.8 million. | |||||||||
Available borrowing was $25.5 million under the Short-Term Financing Program and $19.7 million under the Short-Term Credit Facility as of November 3, 2013. | |||||||||
i) | Short-Term Financing Program | ||||||||
The Short-Term Financing Program provided for up to $200.0 million of borrowing, with available borrowing based on eligible receivable levels, supported by a credit agreement secured by receivables from the staffing services business that are sold to a wholly-owned, consolidated, bankruptcy-remote subsidiary and are available first to satisfy the lender. The program was amended on April 29, 2013, to extend the program expiration date to December 31, 2014 and increase the credit available from $150.0 million to $200.0 million. On August 28, 2013, the benchmark interest rate for which interest is charged on the sale of receivables was changed from commercial paper to a LIBOR index. The program is subject to termination under certain circumstances including the default rate on receivables, as defined, exceeding a specified threshold or the rate of collections on receivables failing to meet a specified threshold. At November 3, 2013, the Company was in compliance with the program covenants. | |||||||||
At November 3, 2013 and October 28, 2012, the Company had outstanding borrowing under the program of $142.0 million and $120.0 million, respectively, and bore a weighted average annual interest rate of 1.5% in fiscal 2013 and 2012 which is inclusive of certain facility and program fees. | |||||||||
ii) | Short-Term Credit Facility | ||||||||
The Short-Term Credit Facility provided for up to $45.0 million of borrowing in various currencies secured by cash collateral covering 105% of certain baseline amounts, of which up to $25.0 million could be used for letters of credit. The facility is subject to a facility fee and borrowings bear various interest rate options calculated using a combination of LIBOR and prime rates plus a margin over those rates. The facility was amended on January 25, 2013, to extend the expiration date to March 31, 2015, increase the borrowing available from $42.0 million to $45.0 million, increase the amount that may be used for letters of credit from $15.0 million to $25.0 million, and require minimum liquidity of $15.0 million in combined unrestricted cash and Short-Term Financing Program borrowing availability. The amendment also removed financial ratio covenants and certain limitations previously placed on incurring additional indebtedness, the level of annual capital expenditures, the amount of investments, including business acquisitions and mergers, and the amount of loans that may be made by the Company to its subsidiaries. At November 3, 2013, the Company was in compliance with the facility covenants. | |||||||||
At November 3, 2013 and October 28, 2012 the Company had drawn under the facility $22.3 million and $21.9 million, respectively, in various currencies used to hedge the Company’s net investment in certain foreign subsidiaries and $3.0 million in letters of credit outstanding. At November 3, 2013 and October 28, 2012 borrowings bore a weighted average annual interest rate of 2.2% and 3.1% respectively, inclusive of the facility fee. | |||||||||
(b) | Long-Term Debt | ||||||||
The Company has $9.0 million outstanding at November 3, 2013 under a twenty-year fully amortizing loan that ends on October 1, 2021, which bears interest at 8.2% per annum and requires principal and interest payments of $0.4 million per quarter, secured by a deed of trust on certain land and buildings. | |||||||||
Long-term debt consists of the following (in thousands): | |||||||||
Year ended | |||||||||
November 3, | October 28, | ||||||||
2013 | 2012 | ||||||||
8.2% term loan | $ | 8,966 | $ | 9,801 | |||||
Less amounts due within one year | 839 | 768 | |||||||
Total long-term debt | $ | 8,127 | $ | 9,033 | |||||
Principal payment maturities on long-term debt outstanding at November 3, 2013 are (in thousands): | |||||||||
Fiscal year | Amount | ||||||||
2014 | $ | 839 | |||||||
2015 | 911 | ||||||||
2016 | 988 | ||||||||
2017 | 1,072 | ||||||||
2018 | 1,164 | ||||||||
Thereafter | 3,992 | ||||||||
Total | $ | 8,966 | |||||||
Hedging
Hedging | 12 Months Ended |
Nov. 03, 2013 | |
Derivative Instruments And Hedging Activities Disclosure [Abstract] | ' |
Hedging | ' |
NOTE 12: Hedging | |
The Company enters into non-derivative financial instruments to hedge its net investment in certain foreign subsidiaries. During fiscal years 2012 through 2013, the Company primarily used short-term foreign currency borrowings to hedge its net investments in certain foreign operations. | |
At November 3, 2013 and October 28, 2012, the Company had outstanding $22.3 million and $21.9 million, respectively, of foreign currency denominated short-term borrowings used to hedge the Company’s net investment in certain foreign subsidiaries. The Company does not designate and document these instruments as hedges under ASC 815 “Derivatives and Hedging”, and as a result gains and losses associated with these instruments are included in Foreign Exchange Gain (Loss), net in our Consolidated Statements of Operations. For fiscal years 2013, 2012 and 2011, net gains/(losses) on these borrowings and instruments of $0.1 million, ($0.6) million and $0.5 million, respectively, were included in Foreign Exchange Gain (Loss), net in the Consolidated Statement of Operations. |
Stockholders_Equity
Stockholders' Equity | 12 Months Ended | ||||||||||||
Nov. 03, 2013 | |||||||||||||
Equity [Abstract] | ' | ||||||||||||
Stockholders' Equity | ' | ||||||||||||
NOTE 13: Stockholders’ Equity | |||||||||||||
(a) | Common Stock | ||||||||||||
Each outstanding share of common stock is entitled to one vote per share on all matters submitted to a vote by shareholders. Subject to the rights of any preferred stock which may from time to time be outstanding, the holders of outstanding shares of common stock are entitled to receive dividends and, upon liquidation or dissolution, are entitled to receive pro rata all assets legally available for distribution to stockholders. No dividends were declared or paid on the common stock during fiscal years 2013, 2012 or 2011. The holders of common stock have no preemptive or other subscription rights and there are no redemption or sinking fund provisions with respect to such shares. There is no preferred stock outstanding. | |||||||||||||
(b) | Treasury Stock | ||||||||||||
On June 2, 2008, the Company’s Board of Directors approved a stock repurchase program whereby the Company is authorized to repurchase up to an additional 1,500,000 shares of the Company’s common stock. Shares repurchased prior to this authorization plan were purchased under a previous buy-back plan that was approved by the Board of Directors on September 6, 2006. The 2006 plan approved the repurchase of up to 1,500,000 of the Company’s common stock. No shares were repurchased in fiscal 2013 or 2012. As of November 3, 2013 the Company may purchase up to 309,255 additional shares under the 2008 authorization, subject to limitations contained in the Company’s debt agreements. | |||||||||||||
(c) | Comprehensive Income (Loss) | ||||||||||||
The accumulated balances for each classification of other comprehensive income (loss) are as follows (in thousands): | |||||||||||||
Foreign | Unrealized | Accumulated other | |||||||||||
currency | gains/(losses) | comprehensive | |||||||||||
gains/(losses) | on securities | income (loss) | |||||||||||
October 30, 2011 | $ | (2,005) | $ | (66) | $ | (2,071) | |||||||
Current period other comprehensive income (loss) | (671) | 3 | (668) | ||||||||||
October 28, 2012 | $ | (2,676) | $ | (63) | $ | (2,739) | |||||||
Current period other comprehensive income (loss) | (2,531) | 27 | (2,504) | ||||||||||
November 3, 2013 | $ | (5,207) | $ | (36) | $ | (5,243) | |||||||
Stock_Compensation_Plans
Stock Compensation Plans | 12 Months Ended | ||||||||||||||||||||||||
Nov. 03, 2013 | |||||||||||||||||||||||||
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ||||||||||||||||||||||||
Stock Compensation Plans | ' | ||||||||||||||||||||||||
NOTE 14: Stock Compensation Plans | |||||||||||||||||||||||||
The Company had two share-based compensation plans as of November 3, 2013, the 2006 Plan and 1995 Plan, which are discussed below. There were 900,850 shares available for future grants at November 3, 2013. | |||||||||||||||||||||||||
2006 Plan | |||||||||||||||||||||||||
The shareholders of the Company approved the Volt Information Sciences, Inc. 2006 Incentive Stock Plan (2006 Plan) in April 2007. The 2006 Plan permits the grant of Incentive Stock Options, Non-Qualified Stock Options, Restricted Stock and Restricted Stock Units related to the Company’s common stock to employees and nonemployee directors of the Company through September 6, 2016. | |||||||||||||||||||||||||
The aggregate number of shares that may be issued pursuant to awards made under the 2006 Plan shall not exceed 1,500,000 shares and the options will be granted at a price of no less than 100% of the fair market value of the Company’s common stock at the date of grant. | |||||||||||||||||||||||||
On December 18, 2007, the Company granted to employees (i) 233,000 restricted stock units with a weighted average grant date fair value of $13.32 and (ii) non-qualified stock options to purchase 152,996 shares of the Company’s common stock at a weighted average exercise price of $13.32 per share under the 2006 Plan. If certain net income targets were met in fiscal years 2007 through 2011, the restricted stock units would begin to vest over a five-year period through 2016. Similarly, if certain net income targets were met in fiscal years 2008 through 2012, substantially all the stock options would vest over a four-year period through 2016. There was no compensation expense recognized on the grants with net income targets for the fiscal years 2013, 2012, and 2011 because the achievement was not deemed probable. These targets were not met and these restricted stock units and options were forfeited in October 2011 and October 2012, respectively. | |||||||||||||||||||||||||
On May 11, 2011, the Company granted non-qualified stock options to purchase 15,000 shares of the Company’s stock under the 2006 Plan. These options are time based and vest over a five year period. | |||||||||||||||||||||||||
On August 2, 2011, the Company granted non-qualified stock options to purchase 7,000 shares of the Company’s common stock under the 2006 Plan. If certain performance targets were not met during fiscal 2012, these options would forfeit at a rate of 20% over a ten week period. The targets were not met and the options forfeited in fiscal 2012. | |||||||||||||||||||||||||
During fiscal 2013, the Company granted 110,000 shares of the Company’s common stock as restricted stock awards under the 2006 Plan. The weighted average fair value for these shares at the grant date was $7.16. Compensation expense is recognized on a straight-line basis over the vesting period of 2.5 years. | |||||||||||||||||||||||||
Compensation expense of $0.4 million was recognized in the Selling, Administrative and Other operating costs in the Company’s Consolidated Statement of Operations for the year ended November 3, 2013. As of November 3, 2013, there was $0.5 million of total unrecognized compensation cost related to these restricted shares to be recognized over a weighted average period of 1.8 years, all of which relates to the 2006 Plan. | |||||||||||||||||||||||||
The following table summarizes transactions involving outstanding stock options and non-vested restricted stock and restricted stock unit awards (stock awards) under the 2006 plan: | |||||||||||||||||||||||||
Stock Options | Restricted Stock | ||||||||||||||||||||||||
2006 Plan | Number of | Weighted | Weighted | Aggregate | Number of | Weighted | |||||||||||||||||||
shares | average | average | Intrinsic | shares | average | ||||||||||||||||||||
exercise | contractual | Value | grant date | ||||||||||||||||||||||
price | life | fair value | |||||||||||||||||||||||
(in years) | (in thousands) | ||||||||||||||||||||||||
Outstanding - October 31, 2010 | 749,783 | $ | 7.48 | 8.21 | $ | 1,059 | 189,142 | $ | 13.32 | ||||||||||||||||
Granted | 22,000 | 10.06 | - | - | - | - | |||||||||||||||||||
Expired | (5,600) | 6.39 | - | - | - | - | |||||||||||||||||||
Forfeited | (51,166) | 8.34 | - | - | (189,142) | 13.32 | |||||||||||||||||||
Outstanding - October 30, 2011 | 715,017 | 7.51 | 7.31 | 232 | - | - | |||||||||||||||||||
Granted | - | - | - | - | - | - | |||||||||||||||||||
Expired | (27,800) | 6.39 | - | - | - | - | |||||||||||||||||||
Forfeited | (149,267) | 11.25 | - | - | - | - | |||||||||||||||||||
Outstanding - October 28, 2012 | 537,950 | 6.53 | 6.43 | 314 | - | - | |||||||||||||||||||
Granted | - | - | - | - | 110,000 | 7.16 | |||||||||||||||||||
Expired | (28,700) | 6.39 | - | - | - | - | |||||||||||||||||||
Forfeited | (25,100) | 7.22 | - | - | - | - | |||||||||||||||||||
Vested | - | - | - | - | (36,666) | 6.25 | |||||||||||||||||||
Outstanding - November 3, 2013 | 484,150 | $ | 6.50 | 5.42 | $ | 1,041 | 73,334 | $ | 7.61 | ||||||||||||||||
Expected to vest at November 3, 2013 | 87,450 | $ | 6.55 | 5.50 | $ | 185 | 73,334 | $ | 7.61 | ||||||||||||||||
Exercisable at November 3, 2013 | 396,700 | $ | 6.49 | 5.40 | $ | 856 | |||||||||||||||||||
1995 Plan | |||||||||||||||||||||||||
In 1995, the Company adopted a Non-Qualified Stock Option Plan (1995 Plan) pursuant to which the Company’s Board of Directors could grant stock options to the key employees of the Company or of any subsidiary of the Company. The 1995 Plan terminated on May 16, 2005 pursuant to its terms. Options to purchase shares of common stock previously granted under the plan will remain outstanding until exercised, cancelled, forfeited or expired. | |||||||||||||||||||||||||
The following table summarizes transactions involving outstanding stock options under the 1995 plan: | |||||||||||||||||||||||||
Number of | Weighted | Weighted | Aggregate | ||||||||||||||||||||||
shares | average | average | Intrinsic | ||||||||||||||||||||||
exercise price | contractual life | Value | |||||||||||||||||||||||
1995 Plan | |||||||||||||||||||||||||
(in years) | (in thousands) | ||||||||||||||||||||||||
Outstanding - October 31, 2010 | 46,050 | $ | 12.14 | 1.90 | $ | 13 | |||||||||||||||||||
Exercised | - | - | - | - | |||||||||||||||||||||
Expired | (17,400) | 12.03 | - | - | |||||||||||||||||||||
Outstanding - October 30, 2011 | 28,650 | 12.21 | 1.39 | - | |||||||||||||||||||||
Exercised | - | - | - | - | |||||||||||||||||||||
Expired | (10,950) | 10.42 | - | - | |||||||||||||||||||||
Outstanding - October 28, 2012 | 17,700 | 13.31 | 1.01 | - | |||||||||||||||||||||
Exercised | - | - | - | - | |||||||||||||||||||||
Expired | (10,200) | 9.27 | - | - | |||||||||||||||||||||
Outstanding - November 3, 2013 | 7,500 | 18.81 | 0.76 | $ | - | ||||||||||||||||||||
Vested and exercisable at November 3, 2013 | 7,500 | $ | 18.81 | 0.76 | $ | - | |||||||||||||||||||
In calculating share-based compensation costs, the Company estimated the fair value of each stock option grant using the Black-Scholes option-pricing model. There were no option grants in fiscal 2013 and 2012. The assumptions used to estimate the fair value stock options were as follows for the 2011 fiscal year: | |||||||||||||||||||||||||
October 30, | |||||||||||||||||||||||||
2011 | |||||||||||||||||||||||||
Weighted-average fair value of stock option granted | $ | 7.06 | |||||||||||||||||||||||
Expected volatility | 59% | ||||||||||||||||||||||||
Expected term (in years) | 10 | ||||||||||||||||||||||||
Risk-free interest rate | 3.0 | ||||||||||||||||||||||||
Expected dividend yield | 0 | ||||||||||||||||||||||||
Share based compensation expense was recognized in Selling, Administrative and Other Operating Costs in the Company’s Consolidated Statements of Operations as follows (in thousands): | |||||||||||||||||||||||||
Year ended | |||||||||||||||||||||||||
November 3, | October 28, | October 30, | |||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||
2006 Stock Incentive Plan | |||||||||||||||||||||||||
Selling, administrative and other operating costs | $ | 416 | $ | 127 | $ | 460 | |||||||||||||||||||
Total | $ | 416 | $ | 127 | $ | 460 | |||||||||||||||||||
Earnings_Loss_Per_Share
Earnings (Loss) Per Share | 12 Months Ended | ||||||||||||
Nov. 03, 2013 | |||||||||||||
Earnings Per Share [Abstract] | ' | ||||||||||||
Earnings (Loss) Per Share | ' | ||||||||||||
NOTE 15: Earnings (Loss) Per Share | |||||||||||||
Basic and diluted net income (loss) per share is calculated as follows (in thousands, except per share amounts): | |||||||||||||
Year ended | |||||||||||||
November 3, | October 28, | October 30, | |||||||||||
2013 | 2012 | 2011 | |||||||||||
Numerator | |||||||||||||
Net income (loss) | $ | (30,875) | $ | (13,603) | $ | 15,629 | |||||||
Denominator | |||||||||||||
Basic weighted average number of common shares | 20,826 | 20,813 | 20,813 | ||||||||||
Dilutive weighted average number of common shares | 20,826 | 20,813 | 20,896 | ||||||||||
Net income (loss) per share - basic | $ | (1.48) | $ | (0.65) | $ | 0.75 | |||||||
Net income (loss) per share - diluted | $ | (1.48) | $ | (0.65) | $ | 0.75 | |||||||
Options to purchase 491,650, 555,650 and 743,667 shares of the Company’s common stock were outstanding at November 3, 2013, October 28, 2012 and October 30, 2011, respectively. Additionally, there were 73,334 restricted shares outstanding at November 3, 2013 and no restricted stock units outstanding at October 28, 2012 and October 30, 2011. The options and restricted shares were not included in the computation of diluted loss per share in fiscal 2013 and 2012 because the effect of their inclusion would have been anti-dilutive as a result of the Company’s net loss position in those fiscal years. |
Related_Party_Transactions
Related Party Transactions | 12 Months Ended |
Nov. 03, 2013 | |
Related Party Transactions [Abstract] | ' |
Related Party Transactions | ' |
NOTE 16: Related Party Transactions | |
During fiscal 2013, 2012, and 2011, the law firm of which Lloyd Frank, a member of the Company’s Board of Directors, is of counsel rendered services to the Company in the amount of $2.5 million, $4.3 million, and $4.3 million, respectively. In addition, during fiscal 2013, 2012, and 2011 the Company paid $77,000, $72,500 and $48,000, respectively, to Michael Shaw, Ph.D., son of Jerry Shaw, Executive Officer, and brother of Steven Shaw, the Company’s former Chief Executive Officer and a Director, for services rendered to the Company. |
Restructuring
Restructuring | 12 Months Ended | ||||||||||||
Nov. 03, 2013 | |||||||||||||
Restructuring And Related Activities [Abstract] | ' | ||||||||||||
Restructuring | ' | ||||||||||||
NOTE 17: Restructuring | |||||||||||||
2013 Restructuring | |||||||||||||
Due to the continued decline in the Computer Systems business both domestically and internationally in fiscal 2013, the Company made a decision to pursue cost saving alternatives which included reducing headcount in the United States, the United Kingdom and German locations. As a result of this decision, the Company reduced its workforce throughout fiscal 2013 and incurred approximately $3.9 million in severance related restructuring costs. | |||||||||||||
The Staffing Services segment committed to focus during fiscal 2013 on achieving acceptable operating income from our traditional time and materials staffing services in North America and exiting or reducing business levels with customers where profitability or business terms are unfavorable. In order to achieve this plan, the Company committed to a plan to reduce workforce across various North America locations. | |||||||||||||
The Company does not currently anticipate further material charges in the future relating to this program. | |||||||||||||
The following table displays a roll forward of the fiscal 2013 restructuring costs and related liability balances: | |||||||||||||
Total | Staffing | Computer | |||||||||||
Services | Systems | ||||||||||||
Accrual at October 28, 2012 | $ | - | $ | - | $ | - | |||||||
Workforce reductions | 4,726 | 781 | 3,945 | ||||||||||
Cash payments | (2,186) | (781) | (1,405) | ||||||||||
Accrual at November 3, 2013 | $ | 2,540 | $ | - | $ | 2,540 | |||||||
Commitments_and_Contingencies
Commitments and Contingencies | 12 Months Ended | ||||
Nov. 03, 2013 | |||||
Commitments And Contingencies Disclosure [Abstract] | ' | ||||
Commitments and Contingencies | ' | ||||
NOTE 18: Commitments and Contingencies | |||||
(a) | Leases | ||||
The future minimum rental commitments as of November 3, 2013 for all non-cancelable operating leases were as follows (in thousands): | |||||
Leases | |||||
Fiscal year: | |||||
2014 | $ | 17,352 | |||
2015 | 13,363 | ||||
2016 | 8,719 | ||||
2017 | 6,099 | ||||
2018 | 4,093 | ||||
Thereafter | 4,398 | ||||
Many of the leases also require the Company to pay and contribute to property taxes, insurance and ordinary repairs and maintenance. The lease agreements, which expire at various dates through 2022, may be subject in some cases to renewal options, early termination options or escalation clauses. | |||||
Rental expense for all operating leases for fiscal years 2013, 2012, and 2011 was $19.9 million, $19.8 million, and $20.3 million, respectively. | |||||
(b) | Legal Proceedings | ||||
Settlement of SEC Investigation | |||||
On January 10, 2013, the Company announced that it has reached an agreement with the SEC to settle issues regarding the SEC’s investigation of certain accounting matters. The Company did not admit or deny the SEC’s allegations and consented to a judgment requiring compliance with federal securities laws. Under the terms of the settlement, which was approved by the United States District Court for the Southern District of New York on January 18, 2013, the Company was not required to pay any monetary penalty. | |||||
Other | |||||
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. | |||||
(c) | Indemnification | ||||
The Company indemnifies its officers, directors and certain employees for certain events or occurrences while the employee, officer or director is, or was, serving at the Company’s request in such capacity, as permitted under New York law. The Company has paid and continues to pay legal counsel fees incurred by an officer who is involved with an SEC inquiry. This individual is required to repay the Company for such fees if ultimately found not to be entitled to indemnification. |
Subsequent_Events
Subsequent Events | 12 Months Ended |
Nov. 03, 2013 | |
Subsequent Events [Abstract] | ' |
Subsequent Events | ' |
NOTE 19: Subsequent Events | |
On December 27, 2013, the Short-Term Financing Program was extended to December 31, 2016. |
Segment_Disclosures
Segment Disclosures | 12 Months Ended | ||||||||||||||||
Nov. 03, 2013 | |||||||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||||||
Segment Disclosures | ' | ||||||||||||||||
NOTE 20: Segment Disclosures | |||||||||||||||||
The Company’s operating segments are determined in accordance with the Company’s internal management structure, which is based on operating activities. | |||||||||||||||||
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, amortization of purchased intangible assets and restructuring costs. The Company allocates all operating costs except for the corporate-wide general and administrative costs and fees related to restatement and associated investigations to the segments. These allocations are included in the calculation of each segment’s operating income (loss). Financial data concerning the Company’s sales and segment operating income (loss) by reportable operating segment for the fiscal years ended November 3, 2013, October 28, 2012, and October 30, 2011, are summarized in the following table (in thousands): | |||||||||||||||||
For the year ended November 3, 2013 | |||||||||||||||||
Total | Staffing | Computer | Other | ||||||||||||||
Services | Systems | ||||||||||||||||
Net Revenue | $ | 2,090,937 | $ | 1,899,723 | $ | 73,465 | $ | 117,749 | |||||||||
Expenses | |||||||||||||||||
Direct cost of staffing services revenue | 1,634,365 | 1,634,365 | - | - | |||||||||||||
Cost of other revenue | 160,199 | - | 65,680 | 94,519 | |||||||||||||
Selling, administrative and other operating costs | 284,748 | 239,105 | 24,314 | 21,329 | |||||||||||||
Amortization of purchased intangible assets | 1,369 | 34 | 858 | 477 | |||||||||||||
Restructuring costs | 4,726 | 781 | 3,945 | - | |||||||||||||
Segment operating income (loss) | 5,530 | 25,438 | (21,332) | 1,424 | |||||||||||||
Corporate general and administrative | 9,286 | ||||||||||||||||
Restatement and associated investigations | 24,828 | ||||||||||||||||
Operating loss | (28,584) | ||||||||||||||||
Other income (expense), net | (1,822) | ||||||||||||||||
Loss before income tax provision | $ | (30,406) | |||||||||||||||
For the year ended October 28, 2012 | |||||||||||||||||
Total | Staffing | Computer | Other | ||||||||||||||
Services | Systems | ||||||||||||||||
Net Revenue | $ | 2,246,127 | $ | 2,027,601 | $ | 99,679 | $ | 118,847 | |||||||||
Expenses | |||||||||||||||||
Direct cost of staffing services revenue | 1,738,933 | 1,738,933 | - | - | |||||||||||||
Cost of other revenue | 163,853 | - | 68,281 | 95,572 | |||||||||||||
Selling, administrative and other operating costs | 300,116 | 251,410 | 26,897 | 21,809 | |||||||||||||
Amortization of purchased intangible assets | 1,382 | 47 | 859 | 476 | |||||||||||||
Segment operating income | 41,843 | 37,211 | 3,642 | 990 | |||||||||||||
Corporate general and administrative | 10,731 | ||||||||||||||||
Gain on sale of building | (4,418) | ||||||||||||||||
Restatement and associated investigations | 42,906 | ||||||||||||||||
Operating loss | (7,376) | ||||||||||||||||
Other income (expense), net | (3,836) | ||||||||||||||||
Loss before income tax provision | $ | (11,212) | |||||||||||||||
For the year ended October 30, 2011 | |||||||||||||||||
Total | Staffing | Computer | Other | ||||||||||||||
Services | Systems | ||||||||||||||||
Net Revenue | $ | 2,238,109 | $ | 1,957,905 | $ | 165,349 | $ | 114,855 | |||||||||
Expenses | |||||||||||||||||
Direct cost of staffing services revenue | 1,698,711 | 1,698,711 | - | - | |||||||||||||
Cost of other revenue | 166,211 | - | 76,022 | 90,189 | |||||||||||||
Selling, administrative and other operating costs | 294,410 | 244,343 | 28,835 | 21,232 | |||||||||||||
Amortization of purchased intangible assets | 1,347 | 15 | 855 | 477 | |||||||||||||
Segment operating income | 77,430 | 14,836 | 59,637 | 2,957 | |||||||||||||
Corporate general and administrative | 8,472 | ||||||||||||||||
Restatement and associated investigations | 49,193 | ||||||||||||||||
Operating income | 19,765 | ||||||||||||||||
Other income (expense), net | (4,484) | ||||||||||||||||
Income before income tax provision | $ | 15,281 | |||||||||||||||
Assets of the Company by reportable operating segment are summarized in the following table (in thousands): | |||||||||||||||||
November 3, | October 28, | ||||||||||||||||
2013 | 2012 | ||||||||||||||||
Assets: | |||||||||||||||||
Staffing services | $ | 309,726 | $ | 363,402 | |||||||||||||
Computer systems | 24,428 | 42,502 | |||||||||||||||
Other | 41,536 | 44,545 | |||||||||||||||
375,690 | 450,449 | ||||||||||||||||
Cash, investments and other corporate assets | 124,622 | 107,123 | |||||||||||||||
Total Assets | $ | 500,312 | $ | 557,572 | |||||||||||||
Sales to external customers and long-lived assets of the Company by geographic area are as follows (in thousands): | |||||||||||||||||
Year ended | |||||||||||||||||
November 3, | October 28, | October 30, | |||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||
Net Revenue: | |||||||||||||||||
Domestic | $ | 1,848,619 | $ | 2,019,485 | $ | 2,004,352 | |||||||||||
International, principally Europe | 242,318 | 226,642 | 233,757 | ||||||||||||||
Net Revenue | $ | 2,090,937 | $ | 2,246,127 | $ | 2,238,109 | |||||||||||
November 3, | October 28, | ||||||||||||||||
2013 | 2012 | ||||||||||||||||
Long-Lived Assets: | |||||||||||||||||
Domestic | $ | 32,354 | $ | 32,748 | |||||||||||||
International | 4,970 | 6,304 | |||||||||||||||
Long-Lived Assets | $ | 37,324 | $ | 39,052 | |||||||||||||
Capital expenditures and depreciation and amortization by the Company’s operating segments are as follows (in thousands): | |||||||||||||||||
Year ended | |||||||||||||||||
November 3, | October 28, | October 30, | |||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||
Capital expenditures: | |||||||||||||||||
Staffing services | $ | 8,133 | $ | 9,554 | $ | 12,666 | |||||||||||
Computer systems | 2,396 | 1,872 | 1,914 | ||||||||||||||
Other | 738 | 187 | 324 | ||||||||||||||
Total segments | 11,267 | 11,613 | 14,904 | ||||||||||||||
Corporate | 355 | 2,089 | 3,013 | ||||||||||||||
Total Capital Expenditures | $ | 11,622 | $ | 13,702 | $ | 17,917 | |||||||||||
Depreciation and amortization: | |||||||||||||||||
Staffing services | $ | 6,438 | $ | 8,588 | $ | 8,371 | |||||||||||
Computer systems | 3,762 | 4,680 | 7,002 | ||||||||||||||
Other | 1,569 | 1,870 | 2,070 | ||||||||||||||
Total segments | 11,769 | 15,138 | 17,443 | ||||||||||||||
Corporate | 3,162 | 1,375 | 2,292 | ||||||||||||||
Total Depreciation and Amortization | $ | 14,931 | $ | 16,513 | $ | 19,735 | |||||||||||
Quarterly_Financial_Informatio
Quarterly Financial Information | 12 Months Ended | ||||||||||||||||||||
Nov. 03, 2013 | |||||||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | ' | ||||||||||||||||||||
Quarterly Financial Information | ' | ||||||||||||||||||||
NOTE 21: Quarterly Financial Information (unaudited) | |||||||||||||||||||||
The following tables present certain unaudited consolidated quarterly financial information for each quarter in the fiscal years ended November 3, 2013 and October 28, 2012. | |||||||||||||||||||||
The following table presents selected Consolidated Statements of Operations data for each quarter for the fiscal year ended November 3, 2013 (in thousands, except per share amounts): | |||||||||||||||||||||
Three Months Ended | Year Ended | ||||||||||||||||||||
January 27, | April 28, | July 28, | November 3, | November 3, | |||||||||||||||||
2013 | 2013 | 2013 | 2013 | 2013 | |||||||||||||||||
(unaudited) | (unaudited) | (unaudited) | (unaudited) | ||||||||||||||||||
REVENUE: | |||||||||||||||||||||
Staffing services | $ | 474,362 | $ | 476,729 | $ | 455,848 | $ | 492,784 | $ | 1,899,723 | |||||||||||
Other revenue | 45,843 | 42,995 | 48,365 | 54,011 | 191,214 | ||||||||||||||||
NET REVENUE | 520,205 | 519,724 | 504,213 | 546,795 | 2,090,937 | ||||||||||||||||
EXPENSES: | |||||||||||||||||||||
Direct cost of staffing services revenue | 411,993 | 413,116 | 390,432 | 418,824 | 1,634,365 | ||||||||||||||||
Cost of other revenue | 39,753 | 39,873 | 37,595 | 42,978 | 160,199 | ||||||||||||||||
Selling, administrative and other operating costs | 70,337 | 74,992 | 72,128 | 76,577 | 294,034 | ||||||||||||||||
Amortization of purchased intangible assets | 345 | 346 | 337 | 341 | 1,369 | ||||||||||||||||
Restructuring costs | 740 | 948 | 223 | 2,815 | 4,726 | ||||||||||||||||
Restatement and associated investigations | 13,820 | 7,387 | 1,159 | 2,462 | 24,828 | ||||||||||||||||
TOTAL EXPENSES | 536,988 | 536,662 | 501,874 | 543,997 | 2,119,521 | ||||||||||||||||
OPERATING INCOME (LOSS) | (16,783) | (16,938) | 2,339 | 2,798 | (28,584) | ||||||||||||||||
OTHER INCOME (EXPENSE): | |||||||||||||||||||||
Interest income | 572 | 104 | 85 | 151 | 912 | ||||||||||||||||
Interest expense | (904) | (1,001) | (902) | (1,062) | (3,869) | ||||||||||||||||
Foreign exchange gain (loss), net | 634 | 843 | 113 | (486) | 1,104 | ||||||||||||||||
Other income (expense), net | (33) | 114 | (23) | (27) | 31 | ||||||||||||||||
INCOME (LOSS) BEFORE INCOME TAXES | (16,514) | (16,878) | 1,612 | 1,374 | (30,406) | ||||||||||||||||
Income tax provision (benefit) | 576 | 583 | (444) | (246) | 469 | ||||||||||||||||
NET INCOME (LOSS) | $ | (17,090) | $ | (17,461) | $ | 2,056 | $ | 1,620 | $ | (30,875) | |||||||||||
PER SHARE DATA: | |||||||||||||||||||||
Basic: | |||||||||||||||||||||
Net income (loss) | $ | (0.82) | $ | (0.84) | $ | 0.10 | $ | 0.08 | $ | (1.48) | |||||||||||
Weighted average number of shares | 20,813 | 20,825 | 20,829 | 20,837 | 20,826 | ||||||||||||||||
Diluted: | |||||||||||||||||||||
Net income (loss) | $ | (0.82) | $ | (0.84) | $ | 0.10 | $ | 0.08 | $ | (1.48) | |||||||||||
Weighted average number of shares | 20,813 | 20,825 | 21,019 | 21,050 | 20,826 | ||||||||||||||||
The following table presents selected Consolidated Statements of Operations data for each quarter for the fiscal year ended October 28, 2012 (in thousands, except per share amounts): | |||||||||||||||||||||
Three Months Ended | Year Ended | ||||||||||||||||||||
January 29, | April 29, | July 29, | October 28, | October 28, | |||||||||||||||||
2012 | 2012 | 2012 | 2012 | 2012 | |||||||||||||||||
(unaudited) | (unaudited) | (unaudited) | (unaudited) | ||||||||||||||||||
REVENUE: | |||||||||||||||||||||
Staffing services | $ | 479,217 | $ | 521,278 | $ | 508,154 | $ | 518,952 | $ | 2,027,601 | |||||||||||
Other revenue | 63,876 | 52,165 | 49,878 | 52,607 | 218,526 | ||||||||||||||||
NET REVENUE | 543,093 | 573,443 | 558,032 | 571,559 | 2,246,127 | ||||||||||||||||
EXPENSES: | |||||||||||||||||||||
Direct cost of staffing services revenue | 415,868 | 441,341 | 441,124 | 440,600 | 1,738,933 | ||||||||||||||||
Cost of other revenue | 43,435 | 42,759 | 38,296 | 39,363 | 163,853 | ||||||||||||||||
Selling, administrative and other operating costs | 74,492 | 77,003 | 78,093 | 81,259 | 310,847 | ||||||||||||||||
Amortization of purchased intangible assets | 345 | 345 | 344 | 348 | 1,382 | ||||||||||||||||
Gain on sale of building | - | - | - | (4,418) | (4,418) | ||||||||||||||||
Restatement and associated investigations | 9,031 | 9,169 | 9,800 | 14,906 | 42,906 | ||||||||||||||||
TOTAL EXPENSES | 543,171 | 570,617 | 567,657 | 572,058 | 2,253,503 | ||||||||||||||||
OPERATING INCOME (LOSS) | (78) | 2,826 | (9,625) | (499) | (7,376) | ||||||||||||||||
OTHER INCOME (EXPENSE): | |||||||||||||||||||||
Interest income | 124 | 118 | 227 | 123 | 592 | ||||||||||||||||
Interest expense | (903) | (899) | (936) | (926) | (3,664) | ||||||||||||||||
Foreign exchange gain (loss), net | 455 | (1,043) | 774 | (317) | (131) | ||||||||||||||||
Other expense, net | (93) | (124) | (121) | (295) | (633) | ||||||||||||||||
INCOME (LOSS) BEFORE INCOME TAXES | (495) | 878 | (9,681) | (1,914) | (11,212) | ||||||||||||||||
Income tax provision | 402 | 331 | 1,560 | 98 | 2,391 | ||||||||||||||||
NET INCOME (LOSS) | $ | (897) | $ | 547 | $ | (11,241) | $ | (2,012) | $ | (13,603) | |||||||||||
PER SHARE DATA: | |||||||||||||||||||||
Basic: | |||||||||||||||||||||
Net income (loss) | $ | (0.04) | $ | 0.03 | $ | (0.54) | $ | (0.10) | $ | (0.65) | |||||||||||
Weighted average number of shares | 20,813 | 20,813 | 20,813 | 20,813 | 20,813 | ||||||||||||||||
Diluted: | |||||||||||||||||||||
Net income (loss) | $ | (0.04) | $ | 0.03 | $ | (0.54) | $ | (0.10) | $ | (0.65) | |||||||||||
Weighted average number of shares | 20,813 | 20,902 | 20,813 | 20,813 | 20,813 | ||||||||||||||||
The following table presents selected Consolidated Balance Sheet data for each quarter for the fiscal year ended November 3, 2013 (in thousands): | |||||||||||||||||||||
January 27, | April 28, | July 28, | November 3, | ||||||||||||||||||
2013 | 2013 | 2013 | 2013 | ||||||||||||||||||
ASSETS | |||||||||||||||||||||
CURRENT ASSETS | |||||||||||||||||||||
Cash and cash equivalents | $ | 25,504 | $ | 35,910 | $ | 21,389 | $ | 11,114 | |||||||||||||
Restricted cash | 57,548 | 49,524 | 45,987 | 47,356 | |||||||||||||||||
Short-term investments | 5,783 | 5,954 | 6,196 | 6,144 | |||||||||||||||||
Trade accounts receivable, net | 296,967 | 294,346 | 286,416 | 293,305 | |||||||||||||||||
Recoverable income taxes | 17,369 | 16,438 | 17,645 | 17,150 | |||||||||||||||||
Prepaid insurance | 11,822 | 19,380 | 15,638 | 14,248 | |||||||||||||||||
Other current assets | 20,950 | 17,565 | 20,057 | 21,097 | |||||||||||||||||
TOTAL CURRENT ASSETS | 435,943 | 439,117 | 413,328 | 410,414 | |||||||||||||||||
Prepaid insurance and other assets, excluding current portion | 40,763 | 39,866 | 43,141 | 43,473 | |||||||||||||||||
Property, equipment and software, net | 37,540 | 36,315 | 36,072 | 37,324 | |||||||||||||||||
Purchased intangible assets, net | 10,211 | 9,752 | 9,230 | 9,101 | |||||||||||||||||
TOTAL ASSETS | $ | 524,457 | $ | 525,050 | $ | 501,771 | $ | 500,312 | |||||||||||||
LIABILITIES AND STOCKHOLDERS’ EQUITY | |||||||||||||||||||||
CURRENT LIABILITIES | |||||||||||||||||||||
Accrued compensation | $ | 54,346 | $ | 53,639 | $ | 54,126 | $ | 53,474 | |||||||||||||
Accounts payable | 79,700 | 75,558 | 56,584 | 57,165 | |||||||||||||||||
Accrued taxes other than income taxes | 31,406 | 35,006 | 27,428 | 19,520 | |||||||||||||||||
Accrued insurance and other | 37,949 | 39,124 | 36,410 | 44,133 | |||||||||||||||||
Deferred revenue, net, current portion | 23,699 | 25,328 | 21,307 | 13,335 | |||||||||||||||||
Short-term borrowings, including current portion of | 135,825 | 155,771 | 165,755 | 168,114 | |||||||||||||||||
long-term debt | |||||||||||||||||||||
TOTAL CURRENT LIABILITIES | 362,925 | 384,426 | 361,610 | 355,741 | |||||||||||||||||
Accrued insurance, excluding current portion | 11,140 | 9,678 | 8,554 | 13,003 | |||||||||||||||||
Deferred revenue, net, excluding current portion | 3,309 | 2,541 | 1,968 | 2,839 | |||||||||||||||||
Income taxes payable, excluding current portion | 10,424 | 10,424 | 10,424 | 8,659 | |||||||||||||||||
Deferred income taxes | 2,760 | 2,762 | 2,764 | 1,702 | |||||||||||||||||
Long-term debt, excluding current portion | 8,831 | 8,624 | 8,414 | 8,127 | |||||||||||||||||
TOTAL LIABILITIES | 399,389 | 418,455 | 393,734 | 390,071 | |||||||||||||||||
Commitments and contingencies | |||||||||||||||||||||
STOCKHOLDERS’ EQUITY | |||||||||||||||||||||
Preferred stock | - | - | - | - | |||||||||||||||||
Common stock | 2,350 | 2,351 | 2,352 | 2,354 | |||||||||||||||||
Paid-in capital | 71,719 | 71,891 | 71,972 | 72,003 | |||||||||||||||||
Retained earnings | 96,726 | 79,288 | 81,387 | 83,007 | |||||||||||||||||
Accumulated other comprehensive loss | (3,847) | (5,055) | (5,794) | (5,243) | |||||||||||||||||
Treasury stock, at cost | (41,880) | (41,880) | (41,880) | (41,880) | |||||||||||||||||
TOTAL STOCKHOLDERS’ EQUITY | 125,068 | 106,595 | 108,037 | 110,241 | |||||||||||||||||
TOTAL LIABILITIES | $ | 524,457 | $ | 525,050 | $ | 501,771 | $ | 500,312 | |||||||||||||
AND STOCKHOLDERS’ EQUITY | |||||||||||||||||||||
The following table presents selected Consolidated Balance Sheet data for each quarter for the fiscal year ended October 28, 2012 (in thousands): | |||||||||||||||||||||
January 29, | April 29, | July 29, | October 28, | ||||||||||||||||||
2012 | 2012 | 2012 | 2012 | ||||||||||||||||||
ASSETS | |||||||||||||||||||||
CURRENT ASSETS | |||||||||||||||||||||
Cash and cash equivalents | $ | 46,399 | $ | 28,425 | $ | 33,118 | $ | 26,483 | |||||||||||||
Restricted cash | 80,654 | 87,424 | 73,681 | 61,927 | |||||||||||||||||
Short-term investments | 5,370 | 5,608 | 5,482 | 5,611 | |||||||||||||||||
Trade accounts receivable, net | 291,831 | 340,145 | 328,189 | 334,947 | |||||||||||||||||
Recoverable income taxes | 13,100 | 13,564 | 13,775 | 13,884 | |||||||||||||||||
Prepaid insurance | 10,855 | 17,140 | 12,372 | 11,138 | |||||||||||||||||
Other current assets | 19,898 | 17,951 | 18,861 | 15,406 | |||||||||||||||||
TOTAL CURRENT ASSETS | 468,107 | 510,257 | 485,478 | 469,396 | |||||||||||||||||
Prepaid insurance and other assets, excluding | 35,249 | 31,140 | 36,082 | 38,479 | |||||||||||||||||
current portion | |||||||||||||||||||||
Property, equipment and software, net | 41,768 | 40,632 | 40,473 | 39,052 | |||||||||||||||||
Purchased intangible assets, net | 11,550 | 11,402 | 10,732 | 10,645 | |||||||||||||||||
TOTAL ASSETS | $ | 556,674 | $ | 593,431 | $ | 572,765 | $ | 557,572 | |||||||||||||
LIABILITIES AND STOCKHOLDERS’ EQUITY | |||||||||||||||||||||
CURRENT LIABILITIES | |||||||||||||||||||||
Accrued compensation | $ | 54,666 | $ | 56,537 | $ | 58,279 | $ | 58,183 | |||||||||||||
Accounts payable | 98,850 | 110,244 | 92,206 | 86,523 | |||||||||||||||||
Accrued taxes other than income taxes | 29,555 | 37,339 | 30,901 | 29,361 | |||||||||||||||||
Accrued insurance and other | 40,362 | 36,859 | 34,770 | 34,927 | |||||||||||||||||
Deferred revenue, net, current portion | 30,357 | 30,704 | 31,649 | 24,240 | |||||||||||||||||
Short-term borrowings, including current portion of long-term debt | 105,529 | 125,831 | 144,246 | 145,727 | |||||||||||||||||
TOTAL CURRENT LIABILITIES | 359,319 | 397,514 | 392,051 | 378,961 | |||||||||||||||||
Accrued insurance, excluding current portion | 8,981 | 7,914 | 6,976 | 9,010 | |||||||||||||||||
Deferred revenue, net, excluding current portion | 10,261 | 8,300 | 6,452 | 4,268 | |||||||||||||||||
Income taxes payable, excluding current portion | 9,339 | 9,339 | 9,339 | 10,424 | |||||||||||||||||
Deferred income taxes | 3,494 | 3,493 | 3,531 | 2,759 | |||||||||||||||||
Long-term debt, excluding current portion | 9,615 | 9,425 | 9,231 | 9,033 | |||||||||||||||||
TOTAL LIABILITIES | 401,009 | 435,985 | 427,580 | 414,455 | |||||||||||||||||
Commitments and contingencies | |||||||||||||||||||||
STOCKHOLDERS’ EQUITY | |||||||||||||||||||||
Preferred stock | - | - | - | - | |||||||||||||||||
Common stock | 2,350 | 2,350 | 2,350 | 2,350 | |||||||||||||||||
Paid-in capital | 71,518 | 71,623 | 71,618 | 71,591 | |||||||||||||||||
Retained earnings | 126,270 | 126,944 | 115,771 | 113,795 | |||||||||||||||||
Accumulated other comprehensive loss | (2,593) | (1,591) | (2,674) | (2,739) | |||||||||||||||||
Treasury stock, at cost | (41,880) | (41,880) | (41,880) | (41,880) | |||||||||||||||||
TOTAL STOCKHOLDERS’ EQUITY | 155,665 | 157,446 | 145,185 | 143,117 | |||||||||||||||||
TOTAL LIABILITIES | $ | 556,674 | $ | 593,431 | $ | 572,765 | $ | 557,572 | |||||||||||||
AND STOCKHOLDERS’ EQUITY | |||||||||||||||||||||
The following table presents selected Consolidated Cash Flows data for each quarter for the fiscal year ended November 3, 2013 (in thousands): | |||||||||||||||||||||
Three Months Ended | Year ended | ||||||||||||||||||||
January 27, | April 28, | July 28, | November 3, | November 3, | |||||||||||||||||
2013 | 2013 | 2013 | 2013 | 2013 | |||||||||||||||||
CASH FLOWS FROM OPERATING ACTIVITIES: | |||||||||||||||||||||
Net income (loss) | $ | (17,090) | $ | (17,461) | $ | 2,056 | $ | 1,620 | $ | (30,875) | |||||||||||
Adjustments to reconcile net income (loss) to cash provided by (used in) operating activities: | |||||||||||||||||||||
Depreciation and amortization | 4,154 | 3,676 | 3,550 | 3,551 | 14,931 | ||||||||||||||||
Provisions for doubtful accounts and sales allowances | 56 | 13 | 307 | 3 | 379 | ||||||||||||||||
Unrealized foreign currency exchange gain | (574) | (965) | (285) | 518 | (1,306) | ||||||||||||||||
(Gain) loss on dispositions of property, equipment and software | 12 | 47 | (148) | (20) | (109) | ||||||||||||||||
Deferred income tax provision (benefit) | (1,003) | (954) | 221 | 54 | -1,682 | ||||||||||||||||
Share-based compensation expense | 129 | 172 | 82 | 33 | 416 | ||||||||||||||||
Change in operating assets and liabilities: | |||||||||||||||||||||
Trade accounts receivable | 38,867 | 2,862 | 6,557 | (7,214) | 41,072 | ||||||||||||||||
Restricted cash related to customer contracts | 4,403 | 3,731 | 3,396 | (755) | 10,775 | ||||||||||||||||
Prepaid insurance and other assets | (5,850) | (2,143) | (2,652) | 2,848 | (7,797) | ||||||||||||||||
Accounts payable | (6,107) | (4,360) | (19,059) | 561 | (28,965) | ||||||||||||||||
Accrued expenses | 2,593 | 919 | (9,316) | (954) | (6,758) | ||||||||||||||||
Deferred revenue, net | (1,897) | 791 | (4,625) | (9,138) | (14,869) | ||||||||||||||||
Other liabilities | (140) | — | — | 1,103 | 963 | ||||||||||||||||
Income taxes | (5,767) | 1,497 | (1,768) | (1,226) | (7,264) | ||||||||||||||||
Net cash provided by (used in) operating activities | 11,786 | (12,175) | (21,684) | (9,016) | (31,089) | ||||||||||||||||
CASH FLOWS FROM INVESTING ACTIVITIES: | |||||||||||||||||||||
Sales of investments | 550 | 457 | 549 | 695 | 2,251 | ||||||||||||||||
Purchases of investments | (505) | (438) | (542) | (409) | (1,894) | ||||||||||||||||
Proceeds from sales of property, equipment and software | 187 | 15 | 43 | 67 | 312 | ||||||||||||||||
Purchases of property, equipment, and software | (2,391) | (1,760) | (2,765) | (4,706) | (11,622) | ||||||||||||||||
Net cash used in investing activities | (2,159) | (1,726) | (2,715) | (4,353) | (10,953) | ||||||||||||||||
CASH FLOWS FROM FINANCING ACTIVITIES: | |||||||||||||||||||||
Increase in cash restricted as collateral for borrowings | (24) | 4,293 | 141 | (614) | 3,796 | ||||||||||||||||
Net change in short-term borrowings | (9,935) | 19,937 | 9,975 | 2,357 | 22,334 | ||||||||||||||||
Repayment of long-term debt | (209) | (174) | (187) | (265) | (835) | ||||||||||||||||
Net cash provided by (used in) financing activities | (10,168) | 24,056 | 9,929 | 1,478 | 25,295 | ||||||||||||||||
Effect of exchange rate changes on cash and cash equivalents | (438) | 251 | (51) | 1,616 | 1,378 | ||||||||||||||||
Net increase (decrease) in cash and cash equivalents | (979) | 10,406 | (14,521) | (10,275) | (15,369) | ||||||||||||||||
Cash and cash equivalents, beginning of period | 26,483 | 25,504 | 35,910 | 21,389 | 26,483 | ||||||||||||||||
Cash and cash equivalents, end of period | $ | 25,504 | $ | 35,910 | $ | 21,389 | $ | 11,114 | $ | 11,114 | |||||||||||
Cash paid during the year | |||||||||||||||||||||
Interest expense | $ | 708 | $ | 703 | $ | 703 | $ | 811 | $ | 2,925 | |||||||||||
Income taxes | $ | 8,253 | $ | 665 | $ | 905 | $ | 999 | $ | 10,822 | |||||||||||
The following table presents selected Consolidated Cash Flows data for each quarter for the fiscal year ended October 28, 2012 (in thousands): | |||||||||||||||||||||
Three Months Ended | Year ended | ||||||||||||||||||||
January 29, | April 29, | July 29, | October 28, | October 28, | |||||||||||||||||
2012 | 2012 | 2012 | 2012 | 2012 | |||||||||||||||||
CASH FLOWS FROM OPERATING ACTIVITIES: | |||||||||||||||||||||
Net income (loss) | $ | (897) | $ | 547 | $ | (11,241) | $ | (2,012) | $ | (13,603) | |||||||||||
Adjustments to reconcile net income (loss) to cash provided by (used in) operating activities: | |||||||||||||||||||||
Depreciation and amortization | 4,354 | 4,075 | 4,022 | 4,062 | 16,513 | ||||||||||||||||
Provisions for doubtful accounts and sales allowances | (138) | 5 | 333 | (86) | 114 | ||||||||||||||||
Unrealized foreign currency exchange loss (gain) | 475 | 8 | (427) | 216 | 272 | ||||||||||||||||
Gain on dispositions of property, equipment and software | (107) | (32) | (367) | (4,392) | (4,898) | ||||||||||||||||
Deferred income tax provision (benefit) | 269 | 203 | 1,348 | (14) | 1,806 | ||||||||||||||||
Share-based compensation expense | 54 | 105 | (5) | (27) | 127 | ||||||||||||||||
Change in operating assets and liabilities: | |||||||||||||||||||||
Trade accounts receivable | 28,558 | (48,654) | 11,663 | (6,286) | (14,719) | ||||||||||||||||
Restricted cash related to customer contracts | (5,167) | (6,752) | 13,451 | 12,082 | 13,614 | ||||||||||||||||
Prepaid insurance and other assets | 28 | (84) | (3,864) | 2,363 | (1,557) | ||||||||||||||||
Accounts payable | (851) | 11,265 | (17,865) | (5,618) | (13,069) | ||||||||||||||||
Accrued expenses | 3,854 | 4,969 | (5,809) | (1,307) | 1,707 | ||||||||||||||||
Deferred revenue, net | (14,262) | (1,700) | (779) | (9,686) | (26,427) | ||||||||||||||||
Other liabilities | (79) | (54) | 44 | 10 | (79) | ||||||||||||||||
Income taxes | (682) | (588) | (271) | 1,303 | (238) | ||||||||||||||||
Net cash provided by (used in) operating activities | 15,409 | (36,687) | (9,767) | (9,392) | (40,437) | ||||||||||||||||
CASH FLOWS FROM INVESTING ACTIVITIES: | |||||||||||||||||||||
Sales of investments | 718 | 358 | 399 | 445 | 1,920 | ||||||||||||||||
Purchases of investments | (505) | (360) | (389) | (442) | (1,696) | ||||||||||||||||
Acquisitions, net | (1,822) | - | - | - | (1,822) | ||||||||||||||||
Proceeds from sales of property, equipment and software | 485 | 375 | 1,379 | 5,419 | 7,658 | ||||||||||||||||
Purchases of property, equipment, and software | (2,950) | (2,960) | (4,627) | (3,165) | (13,702) | ||||||||||||||||
Net cash provided by (used in) investing activities | (4,074) | (2,587) | (3,238) | 2,257 | (7,642) | ||||||||||||||||
CASH FLOWS FROM FINANCING ACTIVITIES: | |||||||||||||||||||||
Increase in cash restricted as collateral for borrowings | (1,337) | (18) | 292 | (328) | (1,391) | ||||||||||||||||
Net change in short-term borrowings | (7,708) | 20,312 | 18,415 | 1,435 | 32,454 | ||||||||||||||||
Repayment of long-term debt | (172) | (175) | (178) | (183) | (708) | ||||||||||||||||
Net cash provided by (used in) financing activities | (9,217) | 20,119 | 18,529 | 924 | 30,355 | ||||||||||||||||
Effect of exchange rate changes on cash and cash equivalents | (287) | 1,181 | (831) | (424) | (360) | ||||||||||||||||
Net increase (decrease) in cash and cash equivalents | 1,832 | (17,974) | 4,693 | (6,635) | (18,084) | ||||||||||||||||
Cash and cash equivalents, beginning of period | 44,567 | 46,399 | 28,425 | 33,118 | 44,567 | ||||||||||||||||
Cash and cash equivalents, end of period | $ | 46,399 | $ | 28,425 | $ | 33,118 | $ | 26,483 | $ | 26,483 | |||||||||||
Cash paid during the year | |||||||||||||||||||||
Interest expense | $ | 697 | $ | 697 | $ | 740 | $ | 732 | $ | 2,866 | |||||||||||
Income taxes | $ | 875 | $ | 833 | $ | 786 | $ | 1,246 | $ | 3,740 |
Summary_of_Significant_Account1
Summary of Significant Accounting Policies (Policies) | 12 Months Ended | ||
Nov. 03, 2013 | |||
Accounting Policies [Abstract] | ' | ||
Fiscal Year | ' | ||
(a) | Fiscal Year | ||
The Company’s fiscal year ends on the Sunday nearest October 31st. The 2013 fiscal year consists of 53 weeks while the 2012 and 2011 fiscal years consisted of 52 weeks. As a result, the fourth quarter of fiscal 2013 included an additional week. | |||
Consolidation | ' | ||
(b) | Consolidation | ||
The consolidated financial statements include the accounts of the Company and all subsidiaries over which the Company exercises control. All intercompany balances and transactions have been eliminated in consolidation. The Company accounts for investments over which it has significant influence but not a controlling financial interest using the equity method of accounting. | |||
Use of Estimates | ' | ||
(c) | Use of Estimates | ||
The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. On an ongoing basis, the Company evaluates its estimates, assumptions and judgments, including those related to revenue recognition, allowance for doubtful accounts, contract costing and reserves, valuation of goodwill, intangible assets and other long-lived assets, business combinations, stock compensation, employee benefit plans, restructuring accruals, income taxes and related valuation allowances and loss contingencies. Actual results could differ from those estimates and changes in estimates are reflected in the period in which they become known. | |||
Revenue Recognition | ' | ||
(d) | Revenue Recognition | ||
Revenue is generally recognized when persuasive evidence of an arrangement exists, products have been delivered or services have been rendered, the fee is fixed or determinable, and collectability is reasonably assured. For arrangements within the scope of the multiple-deliverable guidance, a deliverable constitutes a separate unit of accounting when it has stand-alone value and there are no customer-negotiated refunds or return rights for the delivered elements. For multiple-element arrangements, composed only of hardware products and related services or only services, we allocate revenue to each element in an arrangement based on a selling price hierarchy. The selling price for a deliverable is based on its vendor-specific objective evidence (“VSOE”) if applicable, third-party evidence (“TPE”) if VSOE is not available, or estimated selling price (“ESP”), if neither VSOE nor TPE is available. Total transaction revenue is allocated to the multiple elements based on each element’s relative selling price compared to the total selling price. | |||
Services are sometimes provided despite a customer arrangement not yet being finalized. In these cases revenue is deferred until arrangements are finalized or in some cases until cash is received. The cumulative revenue deferred for each arrangement is recognized in the period the revenue recognition criteria are met. The following revenue recognition policies define the manner in which the Company accounts for specific transaction types: | |||
Staffing Services | |||
Revenue is primarily derived from supplying contingent staff to the Company’s customers or providing other services on a time and material basis. Contingent staff primarily consist of contingent employees working under a contract for a fixed period of time or on a specific customer project. Revenue is also derived from permanent placement services, which is generally recognized after placements are made and when the fees are not contingent upon any future event. | |||
Reimbursable costs, including those related to travel and out-of-pocket expenses, are also included in net revenue, and equivalent amounts of reimbursable costs are included in direct cost of staffing services revenue. | |||
Under certain of the Company’s service arrangements, contingent staff is provided to customers through contracts involving other vendors or contractors. When the Company is the principal in the transaction and therefore the primary obligor for the contingent staff, it records the gross amount of the revenue and expense from the service arrangement. When the Company acts only as an agent for the customer and is not the primary obligor for the contingent staff, it records revenue net of vendor or contractor costs. | |||
The Company is generally the primary obligor when it is responsible for the fulfillment of the services under the contract, even if the contingent workers are neither employees of the Company nor directly contracted by the Company. Usually in these situations the contractual relationship with the vendors and contractors is exclusively with the Company and the Company bears customer credit risk and generally has latitude in establishing vendor pricing and has discretion in vendor or contractor selection. | |||
The Company is generally not the primary obligor when it provides comprehensive administration of multiple vendors for customers that operate significant contingent workforces, referred to as Managed Service Programs. The Company is considered an agent in these transactions if it does not have responsibility for the fulfillment of the services by the vendors or contractors (referred to as associate vendors). In such arrangements the Company is typically designated by its customers to be a facilitator of consolidated associate vendor billing and a processor of the payments to be made to the associate vendors on behalf of the customer. Usually in these situations the contractual relationship is between the customers, the associate vendors and the Company, with the associate vendors being the primary obligor and assuming the customer credit risk and the Company generally earning negotiated fixed mark-ups and not having discretion in supplier selection. | |||
Software Systems | |||
Revenue primarily relates to sales of telephone operator services-related software systems and enhancements to existing systems. These arrangements generally contain multiple elements including the software development and customization, sale of software licenses and computer hardware, installation, implementation and integration services, as well as post-contract customer support (“PCS”). Revenues are recognized under these arrangements following the Financial Accounting Standards Boards (“FASB”) revenue recognition requirements, including guidance on software transactions, construction contracts and multiple element arrangements. Under these requirements, the aggregate arrangement fee for multiple element arrangements is required to be allocated to each of the elements in an amount equal to its fair value, generally based upon VSOE of fair value. Fees allocated to each element of the arrangement are then recognized as revenue when all other revenue recognition criteria have been met. As the Company has not established VSOE of fair value for the elements of these arrangements (including PCS and installation services), all revenue for these arrangements is deferred until customer acceptance of the delivered elements is received and the only undelivered elements are services that are not essential to the functionality of the software solution. At that time, revenue recognition commences and the arrangement fee is recognized ratably over the element with the longest remaining period of performance of the arrangement, which is typically the PCS period. The customer is generally invoiced upon delivery of the individual elements which typically results in cash being collected prior to revenue being recognized. | |||
Database Access Services | |||
Revenue from stand-alone arrangements to access the Company’s proprietary telephone listing and other information databases by telephone companies, inter-exchange carriers and non-telecommunications customers is recognized over the period access is provided, based on fixed minimum fees or variable fees based on the volume of activity, provided that all other revenue recognition criteria are met. | |||
Maintenance and Information Technology Infrastructure Services | |||
Revenue from stand-alone PCS, hardware maintenance, and computer and network operations infrastructure services under fixed-price contracts is generally recognized ratably over the contract period, provided that all other revenue recognition criteria are met, and the cost associated with these contracts is recognized as incurred. For time and material contracts, the Company recognizes revenue and costs as services are rendered, provided that all other revenue recognition criteria are met. | |||
Engineering and Construction Services | |||
Revenue from performing engineering and construction services is recognized either on the completed contract method for those contracts that are of a short-term nature, or on the percentage-of-completion method, measuring progress using the cost-to-cost method, provided that all other revenue recognition criteria are met. Known or anticipated losses on contracts are provided for in the period they become evident. Claims and change orders that are in the process of being negotiated with customers for additional work or changes in the scope of work are included in the estimated contract value when it is deemed probable that the claim or change order will result in additional contract revenue and such amount can be reliably estimated. | |||
Expense Recognition | ' | ||
(e) | Expense Recognition | ||
Direct Cost of Staffing Services Revenue | |||
Direct Cost of Staffing Services Revenue consists primarily of contingent employee payroll, related employment taxes and benefits, and the cost of facilities used by contingent employees in fulfilling assignments and projects for staffing services customers, including reimbursable costs. Indirect cost of staffing services revenue is included in Selling, Administrative and Other Operating Costs. The direct costs differ from the selling, administrative and other operating costs in that they arise specifically and directly from the actions of providing staffing services to customers. | |||
Cost of Other Revenue | |||
Cost of Other Revenue consists of the direct and indirect cost of providing non-staffing services, which include payroll and related employment taxes, benefits, materials, data costs, and equipment rental costs. | |||
Selling, Administrative and Other Operating Costs | |||
Selling, Administrative and Other Operating Costs primarily relate to the Company’s selling and administrative efforts as well as the indirect costs associated with providing staffing services. | |||
Research and Development | ' | ||
(f) | Research and Development | ||
Research and development costs include certain expenditures on research, development and engineering for products that will be sold or licensed, as well as internal use software. Software development costs related to software that will be sold or licensed externally to third parties and that qualify for capitalization are not material and, accordingly are expensed as incurred. Costs for software that will be used for internal purposes and are incurred during the preliminary project activities and post-implementation activities are recorded as research and development expense as incurred. Research and development costs are included in Selling, Administrative and Other Operating Costs. | |||
Comprehensive Income (Loss) | ' | ||
(g) | Comprehensive Income (Loss) | ||
Comprehensive income (loss) is the net income (loss) of the Company combined with other changes in stockholders’ equity not involving ownership interest changes. For the Company, such other changes include foreign currency translation and mark-to-market adjustments related to available-for-sale securities. | |||
Cash and Cash Equivalents | ' | ||
(h) | Cash and Cash Equivalents | ||
The Company considers all highly liquid investments with a maturity of three months or less when purchased to be cash equivalents. | |||
Short-Term Investments and Related Deferred Compensation | ' | ||
(i) | Short-Term Investments and Related Deferred Compensation | ||
The Company has a nonqualified deferred compensation and supplemental savings plan that permits eligible employees to defer a portion of their salary. The employee salary deferral is invested in short-term investments corresponding to the employees’ investment selections, primarily mutual funds, which are held in a trust and are reported at current market prices. The liability associated with the nonqualified deferred compensation and supplemental savings plan consists of participant deferrals and earnings thereon, and is reflected as a current liability within accrued compensation in an amount equal to the fair value of the underlying short-term investments held in the plan. Changes in asset values result in offsetting changes in the liability as the employees realize the rewards and bear the risks of their investment selections. | |||
Property, Equipment and Software | ' | ||
(j) | Property, Equipment and Software | ||
Property and equipment are stated at cost and depreciation is calculated on the straight-line method over the estimated useful lives of the assets. Costs for software that will be used for internal purposes and incurred during the application development stage are capitalized and amortized to expense over the estimated useful life of the underlying software. Training and maintenance costs are expensed as incurred. | |||
The major classifications of property, equipment and software, including their respective expected useful lives, consisted of the following: | |||
Buildings | 25 to 32 years | ||
Machinery and Equipment | 3 to 15 years | ||
Leasehold improvements | Shorter of length of lease or life of the asset | ||
Software | 3 to 7 years | ||
Property, equipment and software are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable or it is no longer probable that software development will be completed. If circumstances require a long-lived asset or asset group be reviewed for possible impairment, the Company first compares undiscounted cash flows expected to be generated by each asset or asset group to its carrying value. If the carrying value of the long-lived asset or asset group is not recoverable on an undiscounted cash flow basis, an impairment is recognized to the extent that the carrying value exceeds the fair value. | |||
Purchased Intangible Assets, Net and Goodwill | ' | ||
(k) | Purchased Intangible Assets, Net and Goodwill | ||
Intangible Assets | |||
Intangible assets with finite useful lives consist primarily of customer relationships which are amortized on a straight line basis over 5 to 8 years. Intangible assets with finite useful lives are reviewed for impairment and the useful lives are reassessed whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. If circumstances require a long-lived asset or asset group be tested for possible impairment, the Company first compares undiscounted cash flows expected to be generated by that asset or asset group to its carrying value. If the carrying value of the long-lived asset or asset group is not recoverable on an undiscounted cash flow basis, an impairment is recognized to the extent that the carrying value exceeds its fair value. | |||
Goodwill | |||
Goodwill represents the future economic benefits arising from assets acquired in a business combination that are not individually identified and separately recognized. In 2011, the Company adopted the method of assessing goodwill for possible impairment permitted by ASU No. 2011-08, Intangibles – Goodwill and Other as described in the following paragraph. | |||
The Company first assesses the qualitative factors for reporting units that carry goodwill. If the qualitative assessment results in a conclusion that it is more likely than not that the fair value of a reporting unit exceeds the carrying value, then no further testing is performed for that reporting unit. | |||
When a qualitative assessment is not used, or if the qualitative assessment is not conclusive and it is necessary to calculate fair value of a reporting unit, then the impairment analysis for goodwill is performed at the reporting unit level using a two-step approach. The first step of the goodwill impairment test is used to identify potential impairment by comparing the fair value of a reporting unit with its carrying amount, including goodwill utilizing an enterprise-value based premise approach. If the fair value of the reporting unit exceeds its carrying value, step two does not need to be performed. | |||
If the fair value of the reporting unit is less than its carrying value, an indication of goodwill impairment exists for the reporting unit and the entity must perform step two of the impairment test (measurement). Under step two, an impairment loss is recognized for any excess of the carrying amount of the reporting unit’s goodwill over the implied fair value of that goodwill. The implied fair value of goodwill is determined by allocating the fair value of the reporting unit in a manner similar to a purchase price allocation and the residual fair value after this allocation is the implied fair value of the reporting unit goodwill. Fair value of the reporting unit is determined by using various valuation techniques including income (discounted cash flow), market and/or consideration of recent and similar purchase acquisition transactions. | |||
The Company performs its annual impairment review of goodwill in its second fiscal quarter and when a triggering event occurs between annual impairment tests. | |||
Income Taxes | ' | ||
(l) | Income Taxes | ||
Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases as well as for operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using current tax laws and rates in effect for the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. The Company must then assess the likelihood that its deferred tax assets will be realized. If the Company does not believe that it is more likely than not that its deferred tax assets will be realized, a valuation allowance is established. When a valuation allowance is increased or decreased, a corresponding tax expense or benefit is recorded. | |||
Accounting for income taxes involves uncertainty and judgment in how to interpret and apply tax laws and regulations within the Company’s annual tax filings. Such uncertainties may result in tax positions that may be challenged and overturned by a tax authority in the future which would result in additional tax liability, interest charges and possible penalties. Interest and penalties are classified as a component of income tax expense. | |||
The Company recognizes the effect of income tax positions only if those positions are more likely than not of being sustained. Recognized income tax positions are measured at the largest amount that is greater than 50% likely of being realized upon ultimate settlement. Changes in recognition or measurement are reflected in the period in which the change in estimate occurs. | |||
Share-Based Compensation | ' | ||
(m) | Share-Based Compensation | ||
The Company recognizes all employee share-based compensation as a cost in the financial statements. Equity awards are measured at the grant date fair value of the award. The Company determines grant date fair value of stock option awards using the Black-Scholes option-pricing model. The fair value of restricted stock awards are determined using the closing price of the Company’s common stock on the grant date. Expense is recognized over the requisite service period based on the number of options or shares expected to ultimately vest. Forfeitures are estimated at the date of grant and revised when actual or expected forfeiture activity differs materially from original estimates. | |||
Excess tax benefits of awards that are recognized in equity related to stock option exercises are reflected as financing cash inflows in the consolidated statement of cash flows. | |||
Foreign Currency Translation | ' | ||
(n) | Foreign Currency Translation | ||
Assets and liabilities of non-U.S. subsidiaries that operate in a local currency environment, where that local currency is the functional currency, are translated to U.S. dollars at exchange rates in effect at the balance sheet date. Income and expense accounts are translated at average exchange rates during the year which approximate the rates in effect at the transaction dates. The resulting translation adjustments are directly recorded to a separate component of accumulated other comprehensive income (loss). Gains and losses arising from intercompany foreign currency transactions that are of a long-term nature are reported in the same manner as translation adjustments. Gains and losses arising from intercompany foreign currency transactions that are not of a long-term nature and certain transactions of the Company’s subsidiaries which are denominated in currencies other than the subsidiaries’ functional currency are recognized as incurred in Foreign Exchange Gain (Loss), Net in the Consolidated Statements of Operations. | |||
Fair Value Measurement | ' | ||
(o) | Fair Value Measurement | ||
In accordance with Accounting Standards Codification (“ASC”) “Fair Value Measurements” (“ASC 820”), the Company utilizes valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs to the extent possible. The Company determines fair value based on assumptions that market participants would use in pricing an asset or liability in the principal or most advantageous market. Fair value is defined as the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When considering market participant assumptions in fair value measurements, the following fair value hierarchy distinguishes between observable and unobservable inputs, which are categorized in one of the following levels: | |||
Level 1: Quoted market prices in active markets for identical assets or liabilities. | |||
Level 2: Quoted prices in active markets for similar assets and liabilities, quoted prices for identically similar assets or liabilities in markets that are not active and models for which all significant inputs are observable either directly or indirectly. | |||
Level 3: Unobservable inputs reflecting the reporting entity’s own assumptions or external inputs for inactive markets. | |||
The Company uses this framework for measuring fair value and disclosures about fair value measurement. The Company uses fair value measurements in areas that include: the allocation of purchase price consideration to tangible and identifiable intangible assets; impairment testing for goodwill and long-lived assets; share-based compensation arrangements and financial instruments. The carrying amounts of the Company’s financial instruments, which include cash, cash equivalents, restricted cash, accounts receivable, accounts payable, and short-term borrowings under the Company’s credit facilities, approximated their fair values, due to the short-term nature of these instruments, and the fair value of the long-term debt is based on the interest rates the Company believes it could obtain for borrowings with similar terms. | |||
The Company recognizes transfers between levels of the fair value hierarchy on the date of the event or change in circumstances that caused the transfer. | |||
Legal and Other Contingencies | ' | ||
(p) | Legal and Other Contingencies | ||
The Company is involved in various demands, claims and actual and threatened litigation that arise in the normal course of business. If the potential loss from any claim or legal proceeding is considered probable and the amount can be reasonably estimated, a liability and an expense are recorded for the estimated loss. Significant judgment is required in both the determination of probability and the determination of whether an exposure is reasonably estimable. Actual expenses could differ from these estimates in subsequent periods as additional information becomes known. | |||
Concentrations of Credit Risk | ' | ||
(q) | Concentrations of Credit Risk | ||
Cash and cash equivalents are maintained with several financial institutions and deposits held with banks may exceed the amount of insurance provided on such deposits. Generally, these deposits may be redeemed upon demand and the Company mitigates its credit risk by spreading its deposits across multiple financial institutions and monitoring their respective risk profiles. | |||
Restructuring Charges | ' | ||
(r) | Restructuring Charges | ||
The Company accounts for restructuring activities in accordance with ASC 420, Exit or Disposal Cost Obligations. Under the guidance, for the cost of restructuring activities that do not constitute a discontinued operation, the liability for the current fair value of expected future costs associated with such restructuring activity shall be recognized in the period in which the liability is incurred. We segregate the costs of restructuring activities taken pursuant to a management approved restructuring plan. | |||
Hedging Activities | ' | ||
(s) | Hedging Activities | ||
On a limited basis, the Company enters into derivative and nonderivative (short-term foreign denominated debt) instruments as an economic hedge of its net investment in certain foreign subsidiaries. All derivative instruments are recognized as either assets or liabilities at their respective fair values. For the nonderivative instruments, the Company measures the foreign denominated short-term borrowings based on period-end exchange rates. The Company does not designate and document these instruments as hedges under ASC 815 “Derivatives and Hedging”. As a result, gains and losses associated with these instruments are recognized in Foreign Exchange Gain (Loss), net in our consolidated statements of operations. | |||
Earnings (Loss) Per Share | ' | ||
(t) | Earnings (Loss) Per Share | ||
Basic earnings per share is calculated by dividing net earnings by the weighted-average number of common shares outstanding during the period. The diluted earnings per share computation includes the effect, if any, of shares that would be issuable upon the exercise of outstanding stock options and restricted stock units, reduced by the number of shares which are assumed to be purchased by the Company from the resulting proceeds at the average market price during the year, when such amounts are dilutive to the earnings per share calculation. | |||
Treasury Stock | ' | ||
(u) | Treasury Stock | ||
The Company records treasury stock at the cost to acquire it and includes treasury stock as a component of stockholders’ equity. | |||
Reclassifications | ' | ||
(v) | Reclassifications | ||
Certain reclassifications have been made to the prior year financial statements in order to conform to the current year’s presentation. | |||
New Accounting Pronouncements | ' | ||
(w) | New Accounting Pronouncements | ||
From time to time, new accounting pronouncements are issued by the FASB or other standard setting bodies. Unless otherwise discussed, the Company believes that the impact 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. | |||
Recently Adopted Accounting Standards | |||
In December 2010, the FASB issued ASU 2010-28 Intangibles – Goodwill and Other (Topic 350): When to Perform Step 2 of the Goodwill Impairment Test for Reporting Units with Zero or Negative Carrying Value. For reporting units with zero or negative carrying value, an entity is required to perform Step 2 of the goodwill impairment test if it is more likely than not that a goodwill impairment exists. In determining whether it is more likely than not that a goodwill impairment exists, an entity must consider whether there are any adverse qualitative factors indicating an impairment may exist. The guidance became effective for fiscal years, and interim periods within those years, beginning after December 15, 2010. The Company adopted the guidance on the first day of fiscal 2012. The adoption of the guidance did not have an impact on the Company’s financial statements. | |||
In May 2011, the FASB issued ASU 2011-04, Fair Value Measurements (Topic 820): Amendments to Achieve Common Fair Value Measurements and Disclosure Requirements in U.S. GAAP and IFRS. The amendment explains how to measure fair value and will improve the comparability of fair value measurement presented and disclosed in financial statements prepared in accordance with GAAP and IFRS. This authoritative guidance was to be applied prospectively and was effective during interim and annual periods beginning after December 15, 2011. The adoption of this guidance during the second quarter of fiscal 2012 did not have an impact on the Company’s financial statements. | |||
New Accounting Standards Not Yet Adopted by the Company | |||
In December 2011, the FASB issued ASU 2011-11, Balance Sheet (Topic 210): Disclosure About Offsetting Assets and Liabilities, which requires entities to disclose both gross and net information about both instruments and transactions eligible for offset in the statement of financial position and instruments and transactions subject to an agreement similar to a master netting agreement. In January 2013, the FASB issued ASU 2013-01, Balance Sheet (Topic 210) – Clarifying the Scope of Disclosures About Offsetting Assets and Liabilities, which clarifies that the scope of ASU No. 2011-11 applies to derivatives accounted for in accordance with Topic 815, “Derivatives and Hedging,” including bifurcated embedded derivatives, repurchase agreements and reverse repurchase agreements, and securities borrowing and securities lending transactions that are either offset or subject to an enforceable master netting arrangement or similar arrangement. This ASU, as amended, became effective in our first quarter of fiscal year 2014 and will be applied retrospectively for all comparable periods presented. As we do not have any of the aforementioned derivative instruments, adoption of this ASU in fiscal 2014, as amended, will not have any impact on our consolidated financial statements. | |||
In February 2013, the FASB issued ASU 2013-02, Comprehensive Income (Topic 220): Reporting of Amounts Reclassified out of Accumulated Other Comprehensive Income. The new guidance requires an entity to provide information about the changes in accumulated other comprehensive income by component. An entity is also required to present significant amounts reclassified out of accumulated other comprehensive income by the respective line items of net income. The amendments are effective prospectively for reporting periods beginning after December 15, 2012. The Company expects to adopt this guidance effective fiscal 2014. The adoption of the guidance is not expected to have a material impact on the consolidated financial statements. | |||
In March 2013, the FASB issued ASU 2013-05 Foreign Currency Matters (Topic 830): Parent’s Accounting for the Cumulative Translation Adjustment upon Derecognition of Certain Subsidiaries or Group Assets within a Foreign Entity or of an Investment in a Foreign Entity. The new guidance requires that currency translation adjustments should be released into net income only if the sale of a foreign subsidiary results in the complete liquidation of the entity. For an equity method investment that is a foreign entity, a pro rata portion of the currency translation adjustments should be released into net income upon a partial sale of such an equity method investment. The new guidance also clarifies that the sale of an investment in a foreign entity includes both (1) events that result in the loss of a controlling financial interest in the foreign entity and (2) events that result in an acquirer’s obtaining control of an acquiree in which it held an equity interest immediately before the acquisition date, otherwise known as a “step acquisition.” Accordingly, the cumulative translation adjustment should be released into net income upon the occurrence of those events. The amendments are effective prospectively for fiscal years (and interim reporting periods within those years) beginning after December 15, 2013. The Company expects to adopt this guidance effective fiscal 2015. The Company is currently assessing the impact of the adoption of this guidance on the consolidated financial statements. | |||
In July 2013, the FASB issued ASU No. 2013-11, Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists. This new guidance provides specific financial statement presentation requirements of an unrecognized tax benefit when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists. The guidance states that an unrecognized tax benefit in those circumstances should be presented as a reduction to the deferred tax asset. This guidance is effective for fiscal years, and interim periods within those years, beginning after December 15, 2013. Early adoption is permitted. The Company does not believe that the adoption of this guidance will have a material impact on its consolidated financial statements. |
Summary_of_Significant_Account2
Summary of Significant Accounting Policies (Tables) | 12 Months Ended | ||
Nov. 03, 2013 | |||
Accounting Policies [Abstract] | ' | ||
Major Classifications and Expected Useful Lives of Property, Equipment and Software | ' | ||
The major classifications of property, equipment and software, including their respective expected useful lives, consisted of the following: | |||
Buildings | 25 to 32 years | ||
Machinery and Equipment | 3 to 15 years | ||
Leasehold improvements | Shorter of length of lease or life of the asset | ||
Software | 3 to 7 years |
Fair_Value_of_Financial_Instru1
Fair Value of Financial Instruments (Tables) | 12 Months Ended | ||||||||||||
Nov. 03, 2013 | |||||||||||||
Investments All Other Investments [Abstract] | ' | ||||||||||||
Schedule of Assets and Liabilities Measured at Fair Value | ' | ||||||||||||
The following table presents assets and liabilities measured at fair value (in thousands): | |||||||||||||
November 3, | October 28, | Fair Value | |||||||||||
2013 | 2012 | Hierarchy | |||||||||||
Short-term investments | $ | 6,144 | $ | 5,611 | Level 1 | ||||||||
Total financial assets | $ | 6,144 | $ | 5,611 | |||||||||
Deferred compensation plan liabilities | $ | 6,041 | $ | 5,536 | Level 1 | ||||||||
Total financial liabilities | $ | 6,041 | $ | 5,536 | |||||||||
Schedule of Fair Value of Term Loan | ' | ||||||||||||
The fair value of the term loan was calculated by applying the appropriate fiscal year-end interest rates to our present streams of loan payments. | |||||||||||||
November 3, 2013 | |||||||||||||
(in 000’s) | Carrying | Estimated | Fair Value | ||||||||||
Amount | Fair Value | Hierarchy | |||||||||||
Long-Term Debt, including current portion | $ | 8,966 | $ | 9,956 | Level II | ||||||||
Trade_Accounts_Receivable_Tabl
Trade Accounts Receivable (Tables) | 12 Months Ended | ||||||||||||||||
Nov. 03, 2013 | |||||||||||||||||
Receivables [Abstract] | ' | ||||||||||||||||
Summary of Activity in Allowance Accounts | ' | ||||||||||||||||
For the years ended November 3, 2013, October 28, 2012 and October 30, 2011, the activity in the allowance accounts is as follows (in thousands): | |||||||||||||||||
Balance at | Provision / (Release) | Deductions | Balance at end | ||||||||||||||
beginning of year | of year | ||||||||||||||||
Year Ended November 3, 2013: | |||||||||||||||||
Sales allowance | $ | 544 | $ | (183) | $ | (42) | $ | 319 | |||||||||
Allowance for doubtful accounts | 1,355 | 562 | (425) | 1,492 | |||||||||||||
Total | $ | 1,899 | $ | 379 | $ | (467) | $ | 1,811 | |||||||||
Balance at | Provision / (Release) | Deductions | Balance at end | ||||||||||||||
beginning of year | of year | ||||||||||||||||
Year Ended October 28, 2012: | |||||||||||||||||
Sales allowance | $ | 1,169 | $ | (618) | $ | (7) | $ | 544 | |||||||||
Allowance for doubtful accounts | 1,154 | 732 | (531) | 1,355 | |||||||||||||
Total | $ | 2,323 | $ | 114 | $ | (538) | $ | 1,899 | |||||||||
Balance at | Provision / (Release) | Deductions | Balance at end | ||||||||||||||
beginning of year | of year | ||||||||||||||||
Year Ended October 30, 2011: | |||||||||||||||||
Sales allowance | $ | 2,484 | $ | (1,288) | $ | (27) | $ | 1,169 | |||||||||
Allowance for doubtful accounts | 503 | 814 | (163) | 1,154 | |||||||||||||
Total | $ | 2,987 | $ | (474) | $ | (190) | $ | 2,323 | |||||||||
Property_Equipment_and_Softwar1
Property, Equipment and Software (Tables) | 12 Months Ended | ||||||||
Nov. 03, 2013 | |||||||||
Property Plant And Equipment [Abstract] | ' | ||||||||
Summary of Property, Equipment and Software | ' | ||||||||
Property, equipment and software consisted of (in thousands): | |||||||||
November 3, | October 28, | ||||||||
2013 | 2012 | ||||||||
Land and buildings | $ | 23,298 | $ | 23,399 | |||||
Machinery and equipment | 136,923 | 139,736 | |||||||
Leasehold improvements | 13,181 | 13,051 | |||||||
Less: Accumulated depreciation and amortization | (151,642) | (148,177) | |||||||
Property and equipment | 21,760 | 28,009 | |||||||
Software | 93,262 | 102,120 | |||||||
Less: Accumulated amortization | (77,698) | (91,077) | |||||||
Property, equipment, and software, net | $ | 37,324 | $ | 39,052 | |||||
Purchased_Intangible_Assets_Ne1
Purchased Intangible Assets, Net and Goodwill (Tables) | 12 Months Ended | ||||||||||||||||
Nov. 03, 2013 | |||||||||||||||||
Goodwill And Intangible Assets Disclosure [Abstract] | ' | ||||||||||||||||
Purchased Intangible Assets, Excluding Goodwill | ' | ||||||||||||||||
Purchased intangible assets, excluding goodwill, as of November 3, 2013 and October 28, 2012 are summarized as follows (in thousands): | |||||||||||||||||
November 3, 2013 | |||||||||||||||||
Gross Carrying | Accumulated | Net Carrying | Weighted Average | ||||||||||||||
Amount | Amortization | Amount | Remaining Life (Years) | ||||||||||||||
Finite-lived customer relationships | $ | 7,963 | $ | (7,070) | $ | 893 | 0.7 | ||||||||||
Indefinite-lived tradename | 495 | - | 495 | ||||||||||||||
Total | $ | 8,458 | $ | (7,070) | $ | 1,388 | |||||||||||
28-Oct-12 | |||||||||||||||||
Gross Carrying | Accumulated | Net Carrying | Weighted Average | ||||||||||||||
Amount | Amortization | Amount | Remaining Life (Years) | ||||||||||||||
Finite-lived customer relationships | $ | 7,963 | $ | (5,701) | $ | 2,262 | 1.7 | ||||||||||
Indefinite-lived tradename | 495 | - | 495 | ||||||||||||||
Total | $ | 8,458 | $ | (5,701) | $ | 2,757 | |||||||||||
Change in Carrying Amount of Goodwill | ' | ||||||||||||||||
The following represents the change in the carrying amount of goodwill during each fiscal year (in thousands): | |||||||||||||||||
Staffing Services | |||||||||||||||||
2013 | 2012 | ||||||||||||||||
Aggregate goodwill acquired | $ | 10,644 | $ | 10,666 | |||||||||||||
Accumulated impairment losses | (2,756) | (2,756) | |||||||||||||||
Foreign currency translation adjustment | (175) | (22) | |||||||||||||||
Goodwill, net of impairment losses | $ | 7,713 | $ | 7,888 | |||||||||||||
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | ||||||||||||
Nov. 03, 2013 | |||||||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||||||
Schedule of Income before Income Tax, Domestic and Foreign | ' | ||||||||||||
Income (loss) before income taxes is derived from (in thousands): | |||||||||||||
Year ended | |||||||||||||
November 3, | October 28, | October 30, | |||||||||||
2013 | 2012 | 2011 | |||||||||||
U.S. Domestic | $ | (27,273) | $ | (18,008) | $ | 3,511 | |||||||
International, principally Europe | (3,133) | 6,796 | 11,770 | ||||||||||
Total | $ | (30,406) | $ | (11,212) | $ | 15,281 | |||||||
Schedule of Components of Income Tax Expense (Benefit) | ' | ||||||||||||
Income tax expense (benefit) by taxing jurisdiction consists of (in thousands): | |||||||||||||
Year ended | |||||||||||||
November 3, | October 28, | October 30, | |||||||||||
2013 | 2012 | 2011 | |||||||||||
Current: | |||||||||||||
U.S. Federal | $ | (146) | $ | (558) | $ | 991 | |||||||
State and local | (378) | 75 | (528) | ||||||||||
International, principally Europe | 2,675 | 1,068 | 4,122 | ||||||||||
Total current | $ | 2,151 | $ | 585 | $ | 4,585 | |||||||
Deferred: | |||||||||||||
U.S. Federal | $ | - | $ | - | $ | - | |||||||
State and local | - | - | (2,500) | ||||||||||
International, principally Europe | (1,682) | 1,806 | (2,433) | ||||||||||
Total deferred | (1,682) | 1,806 | (4,933) | ||||||||||
Income tax expense (benefit) | $ | 469 | $ | 2,391 | $ | (348) | |||||||
Schedule of Income Tax Rate Reconciliation | ' | ||||||||||||
The difference between the income tax provision (benefit) on income (loss) and the amount computed at the U.S. federal statutory rate is due to (in thousands): | |||||||||||||
Year ended | |||||||||||||
November 3, | October 28, | October 30, | |||||||||||
2013 | 2012 | 2011 | |||||||||||
U.S. federal statutory rate | $ | (10,642) | $ | (3,924) | $ | 5,349 | |||||||
State income tax, net of U.S. federal tax benefits | (1,463) | (95) | 495 | ||||||||||
Income from international sources | 119 | 2,127 | 5,312 | ||||||||||
Foreign permanent differences | (1,539) | (286) | 841 | ||||||||||
International tax rate differentials | 14 | 98 | (1,274) | ||||||||||
General business credits | (4,977) | (2,967) | (5,363) | ||||||||||
Meals and entertainment | 987 | 1,713 | 2,013 | ||||||||||
Foreign tax credit | - | - | (1,857) | ||||||||||
Other, net | 1,258 | (770) | 1,732 | ||||||||||
Change in valuation allowance for deferred tax assets | 16,712 | 6,495 | (7,596) | ||||||||||
Total | $ | 469 | $ | 2,391 | $ | (348) | |||||||
Components of Deferred Tax Assets and Liabilities | ' | ||||||||||||
The significant components of the Company’s deferred tax assets and liabilities are as follows (in thousands): | |||||||||||||
November 3, | October 28, | ||||||||||||
2013 | 2012 | ||||||||||||
Deferred tax assets: | |||||||||||||
Net operating loss carryforwards | $ | 55,130 | $ | 35,163 | |||||||||
US federal tax credit carryforwards | 27,676 | 20,018 | |||||||||||
Purchased intangible assets | 13,363 | 15,683 | |||||||||||
Deferred income | 10,418 | 13,809 | |||||||||||
Compensation accruals | 7,996 | 7,949 | |||||||||||
Accelerated tax depreciation and amortization | - | 1,538 | |||||||||||
Other accruals, reserves and allowances | 548 | 519 | |||||||||||
Other, net | 3,704 | 5,585 | |||||||||||
Total deferred tax assets | 118,835 | 100,264 | |||||||||||
Less valuation allowance | (100,376) | (82,952) | |||||||||||
Deferred tax assets, net | $ | 18,459 | $ | 17,312 | |||||||||
November 3, | October 28, | ||||||||||||
2013 | 2012 | ||||||||||||
Deferred tax liabilities: | |||||||||||||
Unremitted earnings from foreign subsidiaries | $ | 8,769 | $ | 8,974 | |||||||||
Software development costs | 883 | 891 | |||||||||||
Other, net | 4,783 | 5,139 | |||||||||||
Total deferred tax liabilities | 14,435 | 15,004 | |||||||||||
Net deferred tax asset | $ | 4,024 | $ | 2,308 | |||||||||
Balance sheet classification | |||||||||||||
Current assets | $ | 1,014 | $ | 1,321 | |||||||||
Non-current assets | 9,286 | 6,019 | |||||||||||
Current liabilities | (4,574) | (2,273) | |||||||||||
Non-current liabilities | (1,702) | (2,759) | |||||||||||
Net deferred tax asset | $ | 4,024 | $ | 2,308 | |||||||||
Schedule of Uncertain Tax Positions | ' | ||||||||||||
The following table sets forth the change in the accrual for uncertain tax positions, excluding interest and penalties (in thousands): | |||||||||||||
November 3, | October 28, | ||||||||||||
2013 | 2012 | ||||||||||||
Balance, beginning of year | $ | 11,072 | $ | 10,287 | |||||||||
Increase related to current year tax provisions | 73 | 1,069 | |||||||||||
Settlements | (313) | - | |||||||||||
Lapse of statute of limitations | (1,636) | (284) | |||||||||||
Total | $ | 9,196 | $ | 11,072 | |||||||||
Schedule of Open Tax Years, by Major Tax Jurisdiction | ' | ||||||||||||
The following describes the open tax years, by major tax jurisdiction, as of November 3, 2013: | |||||||||||||
United States - Federal | 2004-present | ||||||||||||
United States - State | 2004-present | ||||||||||||
Canada | 2006-present | ||||||||||||
Germany | 2006-present | ||||||||||||
United Kingdom | 2006-present | ||||||||||||
Debt_Tables
Debt (Tables) | 12 Months Ended | ||||||||
Nov. 03, 2013 | |||||||||
Debt Disclosure [Abstract] | ' | ||||||||
Schedule of Long-Term Debt | ' | ||||||||
Long-term debt consists of the following (in thousands): | |||||||||
Year ended | |||||||||
November 3, | October 28, | ||||||||
2013 | 2012 | ||||||||
8.2% term loan | $ | 8,966 | $ | 9,801 | |||||
Less amounts due within one year | 839 | 768 | |||||||
Total long-term debt | $ | 8,127 | $ | 9,033 | |||||
Summary of Principal Payment Maturities on Long-Term Debt Outstanding | ' | ||||||||
Principal payment maturities on long-term debt outstanding at November 3, 2013 are (in thousands): | |||||||||
Fiscal year | Amount | ||||||||
2014 | $ | 839 | |||||||
2015 | 911 | ||||||||
2016 | 988 | ||||||||
2017 | 1,072 | ||||||||
2018 | 1,164 | ||||||||
Thereafter | 3,992 | ||||||||
Total | $ | 8,966 | |||||||
Stockholders_Equity_Tables
Stockholders' Equity (Tables) | 12 Months Ended | ||||||||||||
Nov. 03, 2013 | |||||||||||||
Equity [Abstract] | ' | ||||||||||||
Accumulated Balances for Each Classification of Other Comprehensive Income (Loss) | ' | ||||||||||||
The accumulated balances for each classification of other comprehensive income (loss) are as follows (in thousands): | |||||||||||||
Foreign | Unrealized | Accumulated other | |||||||||||
currency | gains/(losses) | comprehensive | |||||||||||
gains/(losses) | on securities | income (loss) | |||||||||||
October 30, 2011 | $ | (2,005) | $ | (66) | $ | (2,071) | |||||||
Current period other comprehensive income (loss) | (671) | 3 | (668) | ||||||||||
October 28, 2012 | $ | (2,676) | $ | (63) | $ | (2,739) | |||||||
Current period other comprehensive income (loss) | (2,531) | 27 | (2,504) | ||||||||||
November 3, 2013 | $ | (5,207) | $ | (36) | $ | (5,243) | |||||||
Stock_Compensation_Plans_Table
Stock Compensation Plans (Tables) | 12 Months Ended | ||||||||||||||||||||||||
Nov. 03, 2013 | |||||||||||||||||||||||||
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ||||||||||||||||||||||||
Schedule of Transactions Involving Outstanding Stock Options and Non-Vested Restricted Stock and Restricted Stock Unit Awards Under 2006 Plan | ' | ||||||||||||||||||||||||
The following table summarizes transactions involving outstanding stock options and non-vested restricted stock and restricted stock unit awards (stock awards) under the 2006 plan: | |||||||||||||||||||||||||
Stock Options | Restricted Stock | ||||||||||||||||||||||||
2006 Plan | Number of | Weighted | Weighted | Aggregate | Number of | Weighted | |||||||||||||||||||
shares | average | average | Intrinsic | shares | average | ||||||||||||||||||||
exercise | contractual | Value | grant date | ||||||||||||||||||||||
price | life | fair value | |||||||||||||||||||||||
(in years) | (in thousands) | ||||||||||||||||||||||||
Outstanding - October 31, 2010 | 749,783 | $ | 7.48 | 8.21 | $ | 1,059 | 189,142 | $ | 13.32 | ||||||||||||||||
Granted | 22,000 | 10.06 | - | - | - | - | |||||||||||||||||||
Expired | (5,600) | 6.39 | - | - | - | - | |||||||||||||||||||
Forfeited | (51,166) | 8.34 | - | - | (189,142) | 13.32 | |||||||||||||||||||
Outstanding - October 30, 2011 | 715,017 | 7.51 | 7.31 | 232 | - | - | |||||||||||||||||||
Granted | - | - | - | - | - | - | |||||||||||||||||||
Expired | (27,800) | 6.39 | - | - | - | - | |||||||||||||||||||
Forfeited | (149,267) | 11.25 | - | - | - | - | |||||||||||||||||||
Outstanding - October 28, 2012 | 537,950 | 6.53 | 6.43 | 314 | - | - | |||||||||||||||||||
Granted | - | - | - | - | 110,000 | 7.16 | |||||||||||||||||||
Expired | (28,700) | 6.39 | - | - | - | - | |||||||||||||||||||
Forfeited | (25,100) | 7.22 | - | - | - | - | |||||||||||||||||||
Vested | - | - | - | - | (36,666) | 6.25 | |||||||||||||||||||
Outstanding - November 3, 2013 | 484,150 | $ | 6.50 | 5.42 | $ | 1,041 | 73,334 | $ | 7.61 | ||||||||||||||||
Expected to vest at November 3, 2013 | 87,450 | $ | 6.55 | 5.50 | $ | 185 | 73,334 | $ | 7.61 | ||||||||||||||||
Exercisable at November 3, 2013 | 396,700 | $ | 6.49 | 5.40 | $ | 856 | |||||||||||||||||||
Summary of Transactions Involving Outstanding Stock Options Under 1995 Plan | ' | ||||||||||||||||||||||||
The following table summarizes transactions involving outstanding stock options under the 1995 plan: | |||||||||||||||||||||||||
Number of | Weighted | Weighted | Aggregate | ||||||||||||||||||||||
shares | average | average | Intrinsic | ||||||||||||||||||||||
exercise price | contractual life | Value | |||||||||||||||||||||||
1995 Plan | |||||||||||||||||||||||||
(in years) | (in thousands) | ||||||||||||||||||||||||
Outstanding - October 31, 2010 | 46,050 | $ | 12.14 | 1.90 | $ | 13 | |||||||||||||||||||
Exercised | - | - | - | - | |||||||||||||||||||||
Expired | (17,400) | 12.03 | - | - | |||||||||||||||||||||
Outstanding - October 30, 2011 | 28,650 | 12.21 | 1.39 | - | |||||||||||||||||||||
Exercised | - | - | - | - | |||||||||||||||||||||
Expired | (10,950) | 10.42 | - | - | |||||||||||||||||||||
Outstanding - October 28, 2012 | 17,700 | 13.31 | 1.01 | - | |||||||||||||||||||||
Exercised | - | - | - | - | |||||||||||||||||||||
Expired | (10,200) | 9.27 | - | - | |||||||||||||||||||||
Outstanding - November 3, 2013 | 7,500 | 18.81 | 0.76 | $ | - | ||||||||||||||||||||
Vested and exercisable at November 3, 2013 | 7,500 | $ | 18.81 | 0.76 | $ | - | |||||||||||||||||||
Summary of Estimated Fair Value of Stock Options | ' | ||||||||||||||||||||||||
The assumptions used to estimate the fair value stock options were as follows for the 2011 fiscal year: | |||||||||||||||||||||||||
October 30, | |||||||||||||||||||||||||
2011 | |||||||||||||||||||||||||
Weighted-average fair value of stock option granted | $ | 7.06 | |||||||||||||||||||||||
Expected volatility | 59% | ||||||||||||||||||||||||
Expected term (in years) | 10 | ||||||||||||||||||||||||
Risk-free interest rate | 3.0 | ||||||||||||||||||||||||
Expected dividend yield | 0 | ||||||||||||||||||||||||
Summary of Share Based Compensation Expense Recognized in Selling, Administrative and Other Operating Costs in Consolidated Statements of Operations | ' | ||||||||||||||||||||||||
Share based compensation expense was recognized in Selling, Administrative and Other Operating Costs in the Company’s Consolidated Statements of Operations as follows (in thousands): | |||||||||||||||||||||||||
Year ended | |||||||||||||||||||||||||
November 3, | October 28, | October 30, | |||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||
2006 Stock Incentive Plan | |||||||||||||||||||||||||
Selling, administrative and other operating costs | $ | 416 | $ | 127 | $ | 460 | |||||||||||||||||||
Total | $ | 416 | $ | 127 | $ | 460 | |||||||||||||||||||
Earnings_Loss_Per_Share_Tables
Earnings (Loss) Per Share (Tables) | 12 Months Ended | ||||||||||||
Nov. 03, 2013 | |||||||||||||
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): | |||||||||||||
Year ended | |||||||||||||
November 3, | October 28, | October 30, | |||||||||||
2013 | 2012 | 2011 | |||||||||||
Numerator | |||||||||||||
Net income (loss) | $ | (30,875) | $ | (13,603) | $ | 15,629 | |||||||
Denominator | |||||||||||||
Basic weighted average number of common shares | 20,826 | 20,813 | 20,813 | ||||||||||
Dilutive weighted average number of common shares | 20,826 | 20,813 | 20,896 | ||||||||||
Net income (loss) per share - basic | $ | (1.48) | $ | (0.65) | $ | 0.75 | |||||||
Net income (loss) per share - diluted | $ | (1.48) | $ | (0.65) | $ | 0.75 | |||||||
Restructuring_Tables
Restructuring (Tables) | 12 Months Ended | ||||||||||||
Nov. 03, 2013 | |||||||||||||
Restructuring And Related Activities [Abstract] | ' | ||||||||||||
Summary of Restructuring Costs and Related Liability Balances | ' | ||||||||||||
The following table displays a roll forward of the fiscal 2013 restructuring costs and related liability balances: | |||||||||||||
Total | Staffing | Computer | |||||||||||
Services | Systems | ||||||||||||
Accrual at October 28, 2012 | $ | - | $ | - | $ | - | |||||||
Workforce reductions | 4,726 | 781 | 3,945 | ||||||||||
Cash payments | (2,186) | (781) | (1,405) | ||||||||||
Accrual at November 3, 2013 | $ | 2,540 | $ | - | $ | 2,540 | |||||||
Commitments_and_Contingencies_
Commitments and Contingencies (Tables) | 12 Months Ended | ||||
Nov. 03, 2013 | |||||
Commitments And Contingencies Disclosure [Abstract] | ' | ||||
Schedule of Future Minimum Rental Payments for Operating Leases | ' | ||||
The future minimum rental commitments as of November 3, 2013 for all non-cancelable operating leases were as follows (in thousands): | |||||
Leases | |||||
Fiscal year: | |||||
2014 | $ | 17,352 | |||
2015 | 13,363 | ||||
2016 | 8,719 | ||||
2017 | 6,099 | ||||
2018 | 4,093 | ||||
Thereafter | 4,398 |
Segment_Disclosures_Tables
Segment Disclosures (Tables) | 12 Months Ended | ||||||||||||||||
Nov. 03, 2013 | |||||||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||||||
Summary of Sales and Segment Operating Income (Loss) by Reportable Operating Segment | ' | ||||||||||||||||
Financial data concerning the Company’s sales and segment operating income (loss) by reportable operating segment for the fiscal years ended November 3, 2013, October 28, 2012, and October 30, 2011, are summarized in the following table (in thousands): | |||||||||||||||||
For the year ended November 3, 2013 | |||||||||||||||||
Total | Staffing | Computer | Other | ||||||||||||||
Services | Systems | ||||||||||||||||
Net Revenue | $ | 2,090,937 | $ | 1,899,723 | $ | 73,465 | $ | 117,749 | |||||||||
Expenses | |||||||||||||||||
Direct cost of staffing services revenue | 1,634,365 | 1,634,365 | - | - | |||||||||||||
Cost of other revenue | 160,199 | - | 65,680 | 94,519 | |||||||||||||
Selling, administrative and other operating costs | 284,748 | 239,105 | 24,314 | 21,329 | |||||||||||||
Amortization of purchased intangible assets | 1,369 | 34 | 858 | 477 | |||||||||||||
Restructuring costs | 4,726 | 781 | 3,945 | - | |||||||||||||
Segment operating income (loss) | 5,530 | 25,438 | (21,332) | 1,424 | |||||||||||||
Corporate general and administrative | 9,286 | ||||||||||||||||
Restatement and associated investigations | 24,828 | ||||||||||||||||
Operating loss | (28,584) | ||||||||||||||||
Other income (expense), net | (1,822) | ||||||||||||||||
Loss before income tax provision | $ | (30,406) | |||||||||||||||
For the year ended October 28, 2012 | |||||||||||||||||
Total | Staffing | Computer | Other | ||||||||||||||
Services | Systems | ||||||||||||||||
Net Revenue | $ | 2,246,127 | $ | 2,027,601 | $ | 99,679 | $ | 118,847 | |||||||||
Expenses | |||||||||||||||||
Direct cost of staffing services revenue | 1,738,933 | 1,738,933 | - | - | |||||||||||||
Cost of other revenue | 163,853 | - | 68,281 | 95,572 | |||||||||||||
Selling, administrative and other operating costs | 300,116 | 251,410 | 26,897 | 21,809 | |||||||||||||
Amortization of purchased intangible assets | 1,382 | 47 | 859 | 476 | |||||||||||||
Segment operating income | 41,843 | 37,211 | 3,642 | 990 | |||||||||||||
Corporate general and administrative | 10,731 | ||||||||||||||||
Gain on sale of building | (4,418) | ||||||||||||||||
Restatement and associated investigations | 42,906 | ||||||||||||||||
Operating loss | (7,376) | ||||||||||||||||
Other income (expense), net | (3,836) | ||||||||||||||||
Loss before income tax provision | $ | (11,212) | |||||||||||||||
For the year ended October 30, 2011 | |||||||||||||||||
Total | Staffing | Computer | Other | ||||||||||||||
Services | Systems | ||||||||||||||||
Net Revenue | $ | 2,238,109 | $ | 1,957,905 | $ | 165,349 | $ | 114,855 | |||||||||
Expenses | |||||||||||||||||
Direct cost of staffing services revenue | 1,698,711 | 1,698,711 | - | - | |||||||||||||
Cost of other revenue | 166,211 | - | 76,022 | 90,189 | |||||||||||||
Selling, administrative and other operating costs | 294,410 | 244,343 | 28,835 | 21,232 | |||||||||||||
Amortization of purchased intangible assets | 1,347 | 15 | 855 | 477 | |||||||||||||
Segment operating income | 77,430 | 14,836 | 59,637 | 2,957 | |||||||||||||
Corporate general and administrative | 8,472 | ||||||||||||||||
Restatement and associated investigations | 49,193 | ||||||||||||||||
Operating income | 19,765 | ||||||||||||||||
Other income (expense), net | (4,484) | ||||||||||||||||
Income before income tax provision | $ | 15,281 | |||||||||||||||
Summary of Assets by Reportable Operating Segment | ' | ||||||||||||||||
Assets of the Company by reportable operating segment are summarized in the following table (in thousands): | |||||||||||||||||
November 3, | October 28, | ||||||||||||||||
2013 | 2012 | ||||||||||||||||
Assets: | |||||||||||||||||
Staffing services | $ | 309,726 | $ | 363,402 | |||||||||||||
Computer systems | 24,428 | 42,502 | |||||||||||||||
Other | 41,536 | 44,545 | |||||||||||||||
375,690 | 450,449 | ||||||||||||||||
Cash, investments and other corporate assets | 124,622 | 107,123 | |||||||||||||||
Total Assets | $ | 500,312 | $ | 557,572 | |||||||||||||
Summary of Sales to External Customers and Long-lived Assets by Geographic Area | ' | ||||||||||||||||
Sales to external customers and long-lived assets of the Company by geographic area are as follows (in thousands): | |||||||||||||||||
Year ended | |||||||||||||||||
November 3, | October 28, | October 30, | |||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||
Net Revenue: | |||||||||||||||||
Domestic | $ | 1,848,619 | $ | 2,019,485 | $ | 2,004,352 | |||||||||||
International, principally Europe | 242,318 | 226,642 | 233,757 | ||||||||||||||
Net Revenue | $ | 2,090,937 | $ | 2,246,127 | $ | 2,238,109 | |||||||||||
November 3, | October 28, | ||||||||||||||||
2013 | 2012 | ||||||||||||||||
Long-Lived Assets: | |||||||||||||||||
Domestic | $ | 32,354 | $ | 32,748 | |||||||||||||
International | 4,970 | 6,304 | |||||||||||||||
Long-Lived Assets | $ | 37,324 | $ | 39,052 | |||||||||||||
Summary of Capital Expenditures and Depreciation and Amortization by Operating Segments | ' | ||||||||||||||||
Capital expenditures and depreciation and amortization by the Company’s operating segments are as follows (in thousands): | |||||||||||||||||
Year ended | |||||||||||||||||
November 3, | October 28, | October 30, | |||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||
Capital expenditures: | |||||||||||||||||
Staffing services | $ | 8,133 | $ | 9,554 | $ | 12,666 | |||||||||||
Computer systems | 2,396 | 1,872 | 1,914 | ||||||||||||||
Other | 738 | 187 | 324 | ||||||||||||||
Total segments | 11,267 | 11,613 | 14,904 | ||||||||||||||
Corporate | 355 | 2,089 | 3,013 | ||||||||||||||
Total Capital Expenditures | $ | 11,622 | $ | 13,702 | $ | 17,917 | |||||||||||
Depreciation and amortization: | |||||||||||||||||
Staffing services | $ | 6,438 | $ | 8,588 | $ | 8,371 | |||||||||||
Computer systems | 3,762 | 4,680 | 7,002 | ||||||||||||||
Other | 1,569 | 1,870 | 2,070 | ||||||||||||||
Total segments | 11,769 | 15,138 | 17,443 | ||||||||||||||
Corporate | 3,162 | 1,375 | 2,292 | ||||||||||||||
Total Depreciation and Amortization | $ | 14,931 | $ | 16,513 | $ | 19,735 | |||||||||||
Quarterly_Financial_Informatio1
Quarterly Financial Information (Tables) | 12 Months Ended | ||||||||||||||||||||
Nov. 03, 2013 | |||||||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | ' | ||||||||||||||||||||
Selected Consolidated Statements of Operations Data | ' | ||||||||||||||||||||
The following table presents selected Consolidated Statements of Operations data for each quarter for the fiscal year ended November 3, 2013 (in thousands, except per share amounts): | |||||||||||||||||||||
Three Months Ended | Year Ended | ||||||||||||||||||||
January 27, | April 28, | July 28, | November 3, | November 3, | |||||||||||||||||
2013 | 2013 | 2013 | 2013 | 2013 | |||||||||||||||||
(unaudited) | (unaudited) | (unaudited) | (unaudited) | ||||||||||||||||||
REVENUE: | |||||||||||||||||||||
Staffing services | $ | 474,362 | $ | 476,729 | $ | 455,848 | $ | 492,784 | $ | 1,899,723 | |||||||||||
Other revenue | 45,843 | 42,995 | 48,365 | 54,011 | 191,214 | ||||||||||||||||
NET REVENUE | 520,205 | 519,724 | 504,213 | 546,795 | 2,090,937 | ||||||||||||||||
EXPENSES: | |||||||||||||||||||||
Direct cost of staffing services revenue | 411,993 | 413,116 | 390,432 | 418,824 | 1,634,365 | ||||||||||||||||
Cost of other revenue | 39,753 | 39,873 | 37,595 | 42,978 | 160,199 | ||||||||||||||||
Selling, administrative and other operating costs | 70,337 | 74,992 | 72,128 | 76,577 | 294,034 | ||||||||||||||||
Amortization of purchased intangible assets | 345 | 346 | 337 | 341 | 1,369 | ||||||||||||||||
Restructuring costs | 740 | 948 | 223 | 2,815 | 4,726 | ||||||||||||||||
Restatement and associated investigations | 13,820 | 7,387 | 1,159 | 2,462 | 24,828 | ||||||||||||||||
TOTAL EXPENSES | 536,988 | 536,662 | 501,874 | 543,997 | 2,119,521 | ||||||||||||||||
OPERATING INCOME (LOSS) | (16,783) | (16,938) | 2,339 | 2,798 | (28,584) | ||||||||||||||||
OTHER INCOME (EXPENSE): | |||||||||||||||||||||
Interest income | 572 | 104 | 85 | 151 | 912 | ||||||||||||||||
Interest expense | (904) | (1,001) | (902) | (1,062) | (3,869) | ||||||||||||||||
Foreign exchange gain (loss), net | 634 | 843 | 113 | (486) | 1,104 | ||||||||||||||||
Other income (expense), net | (33) | 114 | (23) | (27) | 31 | ||||||||||||||||
INCOME (LOSS) BEFORE INCOME TAXES | (16,514) | (16,878) | 1,612 | 1,374 | (30,406) | ||||||||||||||||
Income tax provision (benefit) | 576 | 583 | (444) | (246) | 469 | ||||||||||||||||
NET INCOME (LOSS) | $ | (17,090) | $ | (17,461) | $ | 2,056 | $ | 1,620 | $ | (30,875) | |||||||||||
PER SHARE DATA: | |||||||||||||||||||||
Basic: | |||||||||||||||||||||
Net income (loss) | $ | (0.82) | $ | (0.84) | $ | 0.10 | $ | 0.08 | $ | (1.48) | |||||||||||
Weighted average number of shares | 20,813 | 20,825 | 20,829 | 20,837 | 20,826 | ||||||||||||||||
Diluted: | |||||||||||||||||||||
Net income (loss) | $ | (0.82) | $ | (0.84) | $ | 0.10 | $ | 0.08 | $ | (1.48) | |||||||||||
Weighted average number of shares | 20,813 | 20,825 | 21,019 | 21,050 | 20,826 | ||||||||||||||||
The following table presents selected Consolidated Statements of Operations data for each quarter for the fiscal year ended October 28, 2012 (in thousands, except per share amounts): | |||||||||||||||||||||
Three Months Ended | Year Ended | ||||||||||||||||||||
January 29, | April 29, | July 29, | October 28, | October 28, | |||||||||||||||||
2012 | 2012 | 2012 | 2012 | 2012 | |||||||||||||||||
(unaudited) | (unaudited) | (unaudited) | (unaudited) | ||||||||||||||||||
REVENUE: | |||||||||||||||||||||
Staffing services | $ | 479,217 | $ | 521,278 | $ | 508,154 | $ | 518,952 | $ | 2,027,601 | |||||||||||
Other revenue | 63,876 | 52,165 | 49,878 | 52,607 | 218,526 | ||||||||||||||||
NET REVENUE | 543,093 | 573,443 | 558,032 | 571,559 | 2,246,127 | ||||||||||||||||
EXPENSES: | |||||||||||||||||||||
Direct cost of staffing services revenue | 415,868 | 441,341 | 441,124 | 440,600 | 1,738,933 | ||||||||||||||||
Cost of other revenue | 43,435 | 42,759 | 38,296 | 39,363 | 163,853 | ||||||||||||||||
Selling, administrative and other operating costs | 74,492 | 77,003 | 78,093 | 81,259 | 310,847 | ||||||||||||||||
Amortization of purchased intangible assets | 345 | 345 | 344 | 348 | 1,382 | ||||||||||||||||
Gain on sale of building | - | - | - | (4,418) | (4,418) | ||||||||||||||||
Restatement and associated investigations | 9,031 | 9,169 | 9,800 | 14,906 | 42,906 | ||||||||||||||||
TOTAL EXPENSES | 543,171 | 570,617 | 567,657 | 572,058 | 2,253,503 | ||||||||||||||||
OPERATING INCOME (LOSS) | (78) | 2,826 | (9,625) | (499) | (7,376) | ||||||||||||||||
OTHER INCOME (EXPENSE): | |||||||||||||||||||||
Interest income | 124 | 118 | 227 | 123 | 592 | ||||||||||||||||
Interest expense | (903) | (899) | (936) | (926) | (3,664) | ||||||||||||||||
Foreign exchange gain (loss), net | 455 | (1,043) | 774 | (317) | (131) | ||||||||||||||||
Other expense, net | (93) | (124) | (121) | (295) | (633) | ||||||||||||||||
INCOME (LOSS) BEFORE INCOME TAXES | (495) | 878 | (9,681) | (1,914) | (11,212) | ||||||||||||||||
Income tax provision | 402 | 331 | 1,560 | 98 | 2,391 | ||||||||||||||||
NET INCOME (LOSS) | $ | (897) | $ | 547 | $ | (11,241) | $ | (2,012) | $ | (13,603) | |||||||||||
PER SHARE DATA: | |||||||||||||||||||||
Basic: | |||||||||||||||||||||
Net income (loss) | $ | (0.04) | $ | 0.03 | $ | (0.54) | $ | (0.10) | $ | (0.65) | |||||||||||
Weighted average number of shares | 20,813 | 20,813 | 20,813 | 20,813 | 20,813 | ||||||||||||||||
Diluted: | |||||||||||||||||||||
Net income (loss) | $ | (0.04) | $ | 0.03 | $ | (0.54) | $ | (0.10) | $ | (0.65) | |||||||||||
Weighted average number of shares | 20,813 | 20,902 | 20,813 | 20,813 | 20,813 | ||||||||||||||||
Selected Consolidated Balance Sheet Data | ' | ||||||||||||||||||||
The following table presents selected Consolidated Balance Sheet data for each quarter for the fiscal year ended November 3, 2013 (in thousands): | |||||||||||||||||||||
January 27, | April 28, | July 28, | November 3, | ||||||||||||||||||
2013 | 2013 | 2013 | 2013 | ||||||||||||||||||
ASSETS | |||||||||||||||||||||
CURRENT ASSETS | |||||||||||||||||||||
Cash and cash equivalents | $ | 25,504 | $ | 35,910 | $ | 21,389 | $ | 11,114 | |||||||||||||
Restricted cash | 57,548 | 49,524 | 45,987 | 47,356 | |||||||||||||||||
Short-term investments | 5,783 | 5,954 | 6,196 | 6,144 | |||||||||||||||||
Trade accounts receivable, net | 296,967 | 294,346 | 286,416 | 293,305 | |||||||||||||||||
Recoverable income taxes | 17,369 | 16,438 | 17,645 | 17,150 | |||||||||||||||||
Prepaid insurance | 11,822 | 19,380 | 15,638 | 14,248 | |||||||||||||||||
Other current assets | 20,950 | 17,565 | 20,057 | 21,097 | |||||||||||||||||
TOTAL CURRENT ASSETS | 435,943 | 439,117 | 413,328 | 410,414 | |||||||||||||||||
Prepaid insurance and other assets, excluding current portion | 40,763 | 39,866 | 43,141 | 43,473 | |||||||||||||||||
Property, equipment and software, net | 37,540 | 36,315 | 36,072 | 37,324 | |||||||||||||||||
Purchased intangible assets, net | 10,211 | 9,752 | 9,230 | 9,101 | |||||||||||||||||
TOTAL ASSETS | $ | 524,457 | $ | 525,050 | $ | 501,771 | $ | 500,312 | |||||||||||||
LIABILITIES AND STOCKHOLDERS’ EQUITY | |||||||||||||||||||||
CURRENT LIABILITIES | |||||||||||||||||||||
Accrued compensation | $ | 54,346 | $ | 53,639 | $ | 54,126 | $ | 53,474 | |||||||||||||
Accounts payable | 79,700 | 75,558 | 56,584 | 57,165 | |||||||||||||||||
Accrued taxes other than income taxes | 31,406 | 35,006 | 27,428 | 19,520 | |||||||||||||||||
Accrued insurance and other | 37,949 | 39,124 | 36,410 | 44,133 | |||||||||||||||||
Deferred revenue, net, current portion | 23,699 | 25,328 | 21,307 | 13,335 | |||||||||||||||||
Short-term borrowings, including current portion of | 135,825 | 155,771 | 165,755 | 168,114 | |||||||||||||||||
long-term debt | |||||||||||||||||||||
TOTAL CURRENT LIABILITIES | 362,925 | 384,426 | 361,610 | 355,741 | |||||||||||||||||
Accrued insurance, excluding current portion | 11,140 | 9,678 | 8,554 | 13,003 | |||||||||||||||||
Deferred revenue, net, excluding current portion | 3,309 | 2,541 | 1,968 | 2,839 | |||||||||||||||||
Income taxes payable, excluding current portion | 10,424 | 10,424 | 10,424 | 8,659 | |||||||||||||||||
Deferred income taxes | 2,760 | 2,762 | 2,764 | 1,702 | |||||||||||||||||
Long-term debt, excluding current portion | 8,831 | 8,624 | 8,414 | 8,127 | |||||||||||||||||
TOTAL LIABILITIES | 399,389 | 418,455 | 393,734 | 390,071 | |||||||||||||||||
Commitments and contingencies | |||||||||||||||||||||
STOCKHOLDERS’ EQUITY | |||||||||||||||||||||
Preferred stock | - | - | - | - | |||||||||||||||||
Common stock | 2,350 | 2,351 | 2,352 | 2,354 | |||||||||||||||||
Paid-in capital | 71,719 | 71,891 | 71,972 | 72,003 | |||||||||||||||||
Retained earnings | 96,726 | 79,288 | 81,387 | 83,007 | |||||||||||||||||
Accumulated other comprehensive loss | (3,847) | (5,055) | (5,794) | (5,243) | |||||||||||||||||
Treasury stock, at cost | (41,880) | (41,880) | (41,880) | (41,880) | |||||||||||||||||
TOTAL STOCKHOLDERS’ EQUITY | 125,068 | 106,595 | 108,037 | 110,241 | |||||||||||||||||
TOTAL LIABILITIES | $ | 524,457 | $ | 525,050 | $ | 501,771 | $ | 500,312 | |||||||||||||
AND STOCKHOLDERS’ EQUITY | |||||||||||||||||||||
The following table presents selected Consolidated Balance Sheet data for each quarter for the fiscal year ended October 28, 2012 (in thousands): | |||||||||||||||||||||
January 29, | April 29, | July 29, | October 28, | ||||||||||||||||||
2012 | 2012 | 2012 | 2012 | ||||||||||||||||||
ASSETS | |||||||||||||||||||||
CURRENT ASSETS | |||||||||||||||||||||
Cash and cash equivalents | $ | 46,399 | $ | 28,425 | $ | 33,118 | $ | 26,483 | |||||||||||||
Restricted cash | 80,654 | 87,424 | 73,681 | 61,927 | |||||||||||||||||
Short-term investments | 5,370 | 5,608 | 5,482 | 5,611 | |||||||||||||||||
Trade accounts receivable, net | 291,831 | 340,145 | 328,189 | 334,947 | |||||||||||||||||
Recoverable income taxes | 13,100 | 13,564 | 13,775 | 13,884 | |||||||||||||||||
Prepaid insurance | 10,855 | 17,140 | 12,372 | 11,138 | |||||||||||||||||
Other current assets | 19,898 | 17,951 | 18,861 | 15,406 | |||||||||||||||||
TOTAL CURRENT ASSETS | 468,107 | 510,257 | 485,478 | 469,396 | |||||||||||||||||
Prepaid insurance and other assets, excluding | 35,249 | 31,140 | 36,082 | 38,479 | |||||||||||||||||
current portion | |||||||||||||||||||||
Property, equipment and software, net | 41,768 | 40,632 | 40,473 | 39,052 | |||||||||||||||||
Purchased intangible assets, net | 11,550 | 11,402 | 10,732 | 10,645 | |||||||||||||||||
TOTAL ASSETS | $ | 556,674 | $ | 593,431 | $ | 572,765 | $ | 557,572 | |||||||||||||
LIABILITIES AND STOCKHOLDERS’ EQUITY | |||||||||||||||||||||
CURRENT LIABILITIES | |||||||||||||||||||||
Accrued compensation | $ | 54,666 | $ | 56,537 | $ | 58,279 | $ | 58,183 | |||||||||||||
Accounts payable | 98,850 | 110,244 | 92,206 | 86,523 | |||||||||||||||||
Accrued taxes other than income taxes | 29,555 | 37,339 | 30,901 | 29,361 | |||||||||||||||||
Accrued insurance and other | 40,362 | 36,859 | 34,770 | 34,927 | |||||||||||||||||
Deferred revenue, net, current portion | 30,357 | 30,704 | 31,649 | 24,240 | |||||||||||||||||
Short-term borrowings, including current portion of long-term debt | 105,529 | 125,831 | 144,246 | 145,727 | |||||||||||||||||
TOTAL CURRENT LIABILITIES | 359,319 | 397,514 | 392,051 | 378,961 | |||||||||||||||||
Accrued insurance, excluding current portion | 8,981 | 7,914 | 6,976 | 9,010 | |||||||||||||||||
Deferred revenue, net, excluding current portion | 10,261 | 8,300 | 6,452 | 4,268 | |||||||||||||||||
Income taxes payable, excluding current portion | 9,339 | 9,339 | 9,339 | 10,424 | |||||||||||||||||
Deferred income taxes | 3,494 | 3,493 | 3,531 | 2,759 | |||||||||||||||||
Long-term debt, excluding current portion | 9,615 | 9,425 | 9,231 | 9,033 | |||||||||||||||||
TOTAL LIABILITIES | 401,009 | 435,985 | 427,580 | 414,455 | |||||||||||||||||
Commitments and contingencies | |||||||||||||||||||||
STOCKHOLDERS’ EQUITY | |||||||||||||||||||||
Preferred stock | - | - | - | - | |||||||||||||||||
Common stock | 2,350 | 2,350 | 2,350 | 2,350 | |||||||||||||||||
Paid-in capital | 71,518 | 71,623 | 71,618 | 71,591 | |||||||||||||||||
Retained earnings | 126,270 | 126,944 | 115,771 | 113,795 | |||||||||||||||||
Accumulated other comprehensive loss | (2,593) | (1,591) | (2,674) | (2,739) | |||||||||||||||||
Treasury stock, at cost | (41,880) | (41,880) | (41,880) | (41,880) | |||||||||||||||||
TOTAL STOCKHOLDERS’ EQUITY | 155,665 | 157,446 | 145,185 | 143,117 | |||||||||||||||||
TOTAL LIABILITIES | $ | 556,674 | $ | 593,431 | $ | 572,765 | $ | 557,572 | |||||||||||||
AND STOCKHOLDERS’ EQUITY | |||||||||||||||||||||
Selected Consolidated Cash Flows Data | ' | ||||||||||||||||||||
The following table presents selected Consolidated Cash Flows data for each quarter for the fiscal year ended November 3, 2013 (in thousands): | |||||||||||||||||||||
Three Months Ended | Year ended | ||||||||||||||||||||
January 27, | April 28, | July 28, | November 3, | November 3, | |||||||||||||||||
2013 | 2013 | 2013 | 2013 | 2013 | |||||||||||||||||
CASH FLOWS FROM OPERATING ACTIVITIES: | |||||||||||||||||||||
Net income (loss) | $ | (17,090) | $ | (17,461) | $ | 2,056 | $ | 1,620 | $ | (30,875) | |||||||||||
Adjustments to reconcile net income (loss) to cash provided by (used in) operating activities: | |||||||||||||||||||||
Depreciation and amortization | 4,154 | 3,676 | 3,550 | 3,551 | 14,931 | ||||||||||||||||
Provisions for doubtful accounts and sales allowances | 56 | 13 | 307 | 3 | 379 | ||||||||||||||||
Unrealized foreign currency exchange gain | (574) | (965) | (285) | 518 | (1,306) | ||||||||||||||||
(Gain) loss on dispositions of property, equipment and software | 12 | 47 | (148) | (20) | (109) | ||||||||||||||||
Deferred income tax provision (benefit) | (1,003) | (954) | 221 | 54 | -1,682 | ||||||||||||||||
Share-based compensation expense | 129 | 172 | 82 | 33 | 416 | ||||||||||||||||
Change in operating assets and liabilities: | |||||||||||||||||||||
Trade accounts receivable | 38,867 | 2,862 | 6,557 | (7,214) | 41,072 | ||||||||||||||||
Restricted cash related to customer contracts | 4,403 | 3,731 | 3,396 | (755) | 10,775 | ||||||||||||||||
Prepaid insurance and other assets | (5,850) | (2,143) | (2,652) | 2,848 | (7,797) | ||||||||||||||||
Accounts payable | (6,107) | (4,360) | (19,059) | 561 | (28,965) | ||||||||||||||||
Accrued expenses | 2,593 | 919 | (9,316) | (954) | (6,758) | ||||||||||||||||
Deferred revenue, net | (1,897) | 791 | (4,625) | (9,138) | (14,869) | ||||||||||||||||
Other liabilities | (140) | — | — | 1,103 | 963 | ||||||||||||||||
Income taxes | (5,767) | 1,497 | (1,768) | (1,226) | (7,264) | ||||||||||||||||
Net cash provided by (used in) operating activities | 11,786 | (12,175) | (21,684) | (9,016) | (31,089) | ||||||||||||||||
CASH FLOWS FROM INVESTING ACTIVITIES: | |||||||||||||||||||||
Sales of investments | 550 | 457 | 549 | 695 | 2,251 | ||||||||||||||||
Purchases of investments | (505) | (438) | (542) | (409) | (1,894) | ||||||||||||||||
Proceeds from sales of property, equipment and software | 187 | 15 | 43 | 67 | 312 | ||||||||||||||||
Purchases of property, equipment, and software | (2,391) | (1,760) | (2,765) | (4,706) | (11,622) | ||||||||||||||||
Net cash used in investing activities | (2,159) | (1,726) | (2,715) | (4,353) | (10,953) | ||||||||||||||||
CASH FLOWS FROM FINANCING ACTIVITIES: | |||||||||||||||||||||
Increase in cash restricted as collateral for borrowings | (24) | 4,293 | 141 | (614) | 3,796 | ||||||||||||||||
Net change in short-term borrowings | (9,935) | 19,937 | 9,975 | 2,357 | 22,334 | ||||||||||||||||
Repayment of long-term debt | (209) | (174) | (187) | (265) | (835) | ||||||||||||||||
Net cash provided by (used in) financing activities | (10,168) | 24,056 | 9,929 | 1,478 | 25,295 | ||||||||||||||||
Effect of exchange rate changes on cash and cash equivalents | (438) | 251 | (51) | 1,616 | 1,378 | ||||||||||||||||
Net increase (decrease) in cash and cash equivalents | (979) | 10,406 | (14,521) | (10,275) | (15,369) | ||||||||||||||||
Cash and cash equivalents, beginning of period | 26,483 | 25,504 | 35,910 | 21,389 | 26,483 | ||||||||||||||||
Cash and cash equivalents, end of period | $ | 25,504 | $ | 35,910 | $ | 21,389 | $ | 11,114 | $ | 11,114 | |||||||||||
Cash paid during the year | |||||||||||||||||||||
Interest expense | $ | 708 | $ | 703 | $ | 703 | $ | 811 | $ | 2,925 | |||||||||||
Income taxes | $ | 8,253 | $ | 665 | $ | 905 | $ | 999 | $ | 10,822 | |||||||||||
The following table presents selected Consolidated Cash Flows data for each quarter for the fiscal year ended October 28, 2012 (in thousands): | |||||||||||||||||||||
Three Months Ended | Year ended | ||||||||||||||||||||
January 29, | April 29, | July 29, | October 28, | October 28, | |||||||||||||||||
2012 | 2012 | 2012 | 2012 | 2012 | |||||||||||||||||
CASH FLOWS FROM OPERATING ACTIVITIES: | |||||||||||||||||||||
Net income (loss) | $ | (897) | $ | 547 | $ | (11,241) | $ | (2,012) | $ | (13,603) | |||||||||||
Adjustments to reconcile net income (loss) to cash provided by (used in) operating activities: | |||||||||||||||||||||
Depreciation and amortization | 4,354 | 4,075 | 4,022 | 4,062 | 16,513 | ||||||||||||||||
Provisions for doubtful accounts and sales allowances | (138) | 5 | 333 | (86) | 114 | ||||||||||||||||
Unrealized foreign currency exchange loss (gain) | 475 | 8 | (427) | 216 | 272 | ||||||||||||||||
Gain on dispositions of property, equipment and software | (107) | (32) | (367) | (4,392) | (4,898) | ||||||||||||||||
Deferred income tax provision (benefit) | 269 | 203 | 1,348 | (14) | 1,806 | ||||||||||||||||
Share-based compensation expense | 54 | 105 | (5) | (27) | 127 | ||||||||||||||||
Change in operating assets and liabilities: | |||||||||||||||||||||
Trade accounts receivable | 28,558 | (48,654) | 11,663 | (6,286) | (14,719) | ||||||||||||||||
Restricted cash related to customer contracts | (5,167) | (6,752) | 13,451 | 12,082 | 13,614 | ||||||||||||||||
Prepaid insurance and other assets | 28 | (84) | (3,864) | 2,363 | (1,557) | ||||||||||||||||
Accounts payable | (851) | 11,265 | (17,865) | (5,618) | (13,069) | ||||||||||||||||
Accrued expenses | 3,854 | 4,969 | (5,809) | (1,307) | 1,707 | ||||||||||||||||
Deferred revenue, net | (14,262) | (1,700) | (779) | (9,686) | (26,427) | ||||||||||||||||
Other liabilities | (79) | (54) | 44 | 10 | (79) | ||||||||||||||||
Income taxes | (682) | (588) | (271) | 1,303 | (238) | ||||||||||||||||
Net cash provided by (used in) operating activities | 15,409 | (36,687) | (9,767) | (9,392) | (40,437) | ||||||||||||||||
CASH FLOWS FROM INVESTING ACTIVITIES: | |||||||||||||||||||||
Sales of investments | 718 | 358 | 399 | 445 | 1,920 | ||||||||||||||||
Purchases of investments | (505) | (360) | (389) | (442) | (1,696) | ||||||||||||||||
Acquisitions, net | (1,822) | - | - | - | (1,822) | ||||||||||||||||
Proceeds from sales of property, equipment and software | 485 | 375 | 1,379 | 5,419 | 7,658 | ||||||||||||||||
Purchases of property, equipment, and software | (2,950) | (2,960) | (4,627) | (3,165) | (13,702) | ||||||||||||||||
Net cash provided by (used in) investing activities | (4,074) | (2,587) | (3,238) | 2,257 | (7,642) | ||||||||||||||||
CASH FLOWS FROM FINANCING ACTIVITIES: | |||||||||||||||||||||
Increase in cash restricted as collateral for borrowings | (1,337) | (18) | 292 | (328) | (1,391) | ||||||||||||||||
Net change in short-term borrowings | (7,708) | 20,312 | 18,415 | 1,435 | 32,454 | ||||||||||||||||
Repayment of long-term debt | (172) | (175) | (178) | (183) | (708) | ||||||||||||||||
Net cash provided by (used in) financing activities | (9,217) | 20,119 | 18,529 | 924 | 30,355 | ||||||||||||||||
Effect of exchange rate changes on cash and cash equivalents | (287) | 1,181 | (831) | (424) | (360) | ||||||||||||||||
Net increase (decrease) in cash and cash equivalents | 1,832 | (17,974) | 4,693 | (6,635) | (18,084) | ||||||||||||||||
Cash and cash equivalents, beginning of period | 44,567 | 46,399 | 28,425 | 33,118 | 44,567 | ||||||||||||||||
Cash and cash equivalents, end of period | $ | 46,399 | $ | 28,425 | $ | 33,118 | $ | 26,483 | $ | 26,483 | |||||||||||
Cash paid during the year | |||||||||||||||||||||
Interest expense | $ | 697 | $ | 697 | $ | 740 | $ | 732 | $ | 2,866 | |||||||||||
Income taxes | $ | 875 | $ | 833 | $ | 786 | $ | 1,246 | $ | 3,740 |
Summary_of_Significant_Account3
Summary of Significant Accounting Policies - Major Classifications and Expected Useful Lives of Property, Equipment and Software (Detail) | 12 Months Ended |
Nov. 03, 2013 | |
Minimum [Member] | Buildings [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Useful lives of property, equipment and software | '25 years |
Minimum [Member] | Machinery and Equipment [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Useful lives of property, equipment and software | '3 years |
Minimum [Member] | Software [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Useful lives of property, equipment and software | '3 years |
Maximum [Member] | Buildings [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Useful lives of property, equipment and software | '32 years |
Maximum [Member] | Machinery and Equipment [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Useful lives of property, equipment and software | '15 years |
Maximum [Member] | Software [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Useful lives of property, equipment and software | '7 years |
Summary_of_Significant_Account4
Summary of Significant Accounting Policies - Additional Information (Detail) | 12 Months Ended | |
Nov. 03, 2013 | Oct. 28, 2012 | |
Property, Plant and Equipment [Line Items] | ' | ' |
Useful lives of finite-lived customer relationships | '0 years 8 months 12 days | '1 year 8 months 12 days |
Recognized income tax positions | 'Greater than 50% | ' |
Minimum [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Useful lives of finite-lived customer relationships | '5 years | ' |
Maximum [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Useful lives of finite-lived customer relationships | '8 years | ' |
Restricted_Cash_Additional_Inf
Restricted Cash - Additional Information (Detail) (USD $) | Nov. 03, 2013 | Oct. 28, 2012 |
In Millions, unless otherwise specified | ||
Associate Vendors [Member] | ' | ' |
Restricted Cash and Cash Equivalents Items [Line Items] | ' | ' |
Restricted cash | $15.60 | $26.30 |
Short-Term Credit Facility [Member] | ' | ' |
Restricted Cash and Cash Equivalents Items [Line Items] | ' | ' |
Restricted as collateral | $31.80 | $35.60 |
Fair_Value_of_Financial_Instru2
Fair Value of Financial Instruments - Schedule of Assets and Liabilities Measured at Fair Value (Detail) (USD $) | Nov. 03, 2013 | Jul. 28, 2013 | Apr. 28, 2013 | Jan. 27, 2013 | Oct. 28, 2012 | Jul. 29, 2012 | Apr. 29, 2012 | Jan. 29, 2012 |
In Thousands, unless otherwise specified | ||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Short-term investments | $6,144 | $6,196 | $5,954 | $5,783 | $5,611 | $5,482 | $5,608 | $5,370 |
Total financial assets | 6,144 | ' | ' | ' | 5,611 | ' | ' | ' |
Fair Value Hierarchy Level 1 [Member] | ' | ' | ' | ' | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Short-term investments | 6,144 | ' | ' | ' | 5,611 | ' | ' | ' |
Deferred compensation plan liabilities | 6,041 | ' | ' | ' | 5,536 | ' | ' | ' |
Financial Liabilities [Member] | ' | ' | ' | ' | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Total financial liabilities | $6,041 | ' | ' | ' | $5,536 | ' | ' | ' |
Fair_Value_of_Financial_Instru3
Fair Value of Financial Instruments - Additional Information (Detail) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Nov. 03, 2013 | Oct. 28, 2012 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Transfers between levels | $0 | $0 |
Short-Term Investments [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available for sale securities | $0.10 | $0.10 |
Fair_Value_of_Financial_Instru4
Fair Value of Financial Instruments - Schedule of Fair Value of Term Loan (Detail) (USD $) | Nov. 03, 2013 |
In Thousands, unless otherwise specified | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' |
Long-Term Debt, including current portion | $8,966 |
Carrying Amount [Member] | Fair Value, Inputs, Level II [Member] | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' |
Long-Term Debt, including current portion | 8,966 |
Estimated Fair Value [Member] | Fair Value, Inputs, Level II [Member] | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' |
Long-Term Debt, including current portion | $9,956 |
Trade_Accounts_Receivable_Addi
Trade Accounts Receivable - Additional Information (Detail) (USD $) | Nov. 03, 2013 | Oct. 28, 2012 |
In Millions, unless otherwise specified | ||
Receivables [Abstract] | ' | ' |
Unbilled receivables included in trade accounts receivable | $30.40 | $31.20 |
Trade_Accounts_Receivable_Summ
Trade Accounts Receivable - Summary of Activity in Allowance Accounts (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Nov. 03, 2013 | Oct. 28, 2012 | Oct. 30, 2011 |
Valuation and Qualifying Accounts Disclosure [Line Items] | ' | ' | ' |
Balance at beginning of year | $1,899 | $2,323 | $2,987 |
Provision / (Release) | 379 | 114 | -474 |
Deductions | -467 | -538 | -190 |
Balance at end of year | 1,811 | 1,899 | 2,323 |
Sales Allowance [Member] | ' | ' | ' |
Valuation and Qualifying Accounts Disclosure [Line Items] | ' | ' | ' |
Balance at beginning of year | 544 | 1,169 | 2,484 |
Provision / (Release) | -183 | -618 | -1,288 |
Deductions | -42 | -7 | -27 |
Balance at end of year | 319 | 544 | 1,169 |
Allowance for Doubtful Accounts [Member] | ' | ' | ' |
Valuation and Qualifying Accounts Disclosure [Line Items] | ' | ' | ' |
Balance at beginning of year | 1,355 | 1,154 | 503 |
Provision / (Release) | 562 | 732 | 814 |
Deductions | -425 | -531 | -163 |
Balance at end of year | $1,492 | $1,355 | $1,154 |
Property_Equipment_and_Softwar2
Property, Equipment and Software - Summary of Property, Equipment and Software (Detail) (USD $) | Nov. 03, 2013 | Jul. 28, 2013 | Apr. 28, 2013 | Jan. 27, 2013 | Oct. 28, 2012 | Jul. 29, 2012 | Apr. 29, 2012 | Jan. 29, 2012 |
In Thousands, unless otherwise specified | ||||||||
Property, Plant and Equipment [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Less: Accumulated depreciation and amortization | ($151,642) | ' | ' | ' | ($148,177) | ' | ' | ' |
Property and equipment, net | 21,760 | ' | ' | ' | 28,009 | ' | ' | ' |
Software | 93,262 | ' | ' | ' | 102,120 | ' | ' | ' |
Less: Accumulated amortization | -77,698 | ' | ' | ' | -91,077 | ' | ' | ' |
Property, equipment, and software, net | 37,324 | 36,072 | 36,315 | 37,540 | 39,052 | 40,473 | 40,632 | 41,768 |
Land and Buildings [Member] | ' | ' | ' | ' | ' | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Property, equipment and software, Gross | 23,298 | ' | ' | ' | 23,399 | ' | ' | ' |
Machinery and Equipment [Member] | ' | ' | ' | ' | ' | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Property, equipment and software, Gross | 136,923 | ' | ' | ' | 139,736 | ' | ' | ' |
Leasehold Improvements [Member] | ' | ' | ' | ' | ' | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Property, equipment and software, Gross | $13,181 | ' | ' | ' | $13,051 | ' | ' | ' |
Property_Equipment_and_Softwar3
Property, Equipment and Software - Additional Information (Detail) (USD $) | 0 Months Ended | 1 Months Ended | 3 Months Ended | 12 Months Ended | ||
Jul. 31, 2012 | Jul. 31, 2012 | Oct. 28, 2012 | Nov. 03, 2013 | Oct. 28, 2012 | Oct. 30, 2011 | |
Property Plant And Equipment [Abstract] | ' | ' | ' | ' | ' | ' |
Depreciation and amortization expenses | ' | ' | ' | $13,600,000 | $15,100,000 | $18,300,000 |
Proceeds from sale of building | ' | 5,100,000 | ' | ' | ' | ' |
Gain on sale of building | $4,418,000 | ' | $4,418,000 | ' | $4,418,000 | ' |
Purchased_Intangible_Assets_Ne2
Purchased Intangible Assets, Net and Goodwill - Purchased Intangible Assets, Excluding Goodwill (Detail) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Nov. 03, 2013 | Oct. 28, 2012 |
Goodwill And Intangible Assets Disclosure [Abstract] | ' | ' |
Finite-lived customer relationships, Gross Carrying Amount | $7,963 | $7,963 |
Finite-lived customer relationships, Accumulated Amortization | -7,070 | -5,701 |
Finite-lived customer relationships, Net Carrying Amount | 893 | 2,262 |
Indefinite-lived trade name, Net Carrying Amount | 495 | 495 |
Total Gross Carrying Amount | 8,458 | 8,458 |
Finite-lived customer relationships, Accumulated Amortization | -7,070 | -5,701 |
Total Net Carrying Amount | $1,388 | $2,757 |
Finite-lived customer relationships, Weighted Average Remaining Life | '0 years 8 months 12 days | '1 year 8 months 12 days |
Purchased_Intangible_Assets_Ne3
Purchased Intangible Assets, Net and Goodwill - Change in Carrying Amount of Goodwill (Detail) (Staffing Services [Member], USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Nov. 03, 2013 | Oct. 28, 2012 |
Staffing Services [Member] | ' | ' |
Goodwill [Line Items] | ' | ' |
Aggregate goodwill acquired | $10,644 | $10,666 |
Accumulated impairment losses | -2,756 | -2,756 |
Foreign currency translation adjustment | -175 | -22 |
Goodwill, net of impairment losses | $7,713 | $7,888 |
Accrued_Insurance_Additional_I
Accrued Insurance - Additional Information (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Nov. 03, 2013 | Oct. 28, 2012 | Oct. 30, 2011 |
Maximum [Member] | ' | ' | ' |
Effects of Reinsurance [Line Items] | ' | ' | ' |
Adjustments to final paid premiums determined at future date period | '3 years | ' | ' |
Medical Insurance Programs [Member] | ' | ' | ' |
Effects of Reinsurance [Line Items] | ' | ' | ' |
Recognized insurance expense | $13.60 | $12.60 | $7.60 |
Casualty Insurance Program [Member] | ' | ' | ' |
Effects of Reinsurance [Line Items] | ' | ' | ' |
Recognized insurance expense | $15.70 | $14.30 | $13.40 |
Deferred_Revenue_Net_Additiona
Deferred Revenue, Net - Additional Information (Detail) (USD $) | Nov. 03, 2013 | Oct. 28, 2012 |
In Millions, unless otherwise specified | ||
Software systems [Member] | ' | ' |
Deferred Revenue Arrangement [Line Items] | ' | ' |
Deferred revenue | $15.70 | $23.30 |
Deferred costs | 3.8 | 3.5 |
Staffing services [Member] | ' | ' |
Deferred Revenue Arrangement [Line Items] | ' | ' |
Deferred revenue | $4.30 | $8.70 |
Income_Taxes_Schedule_of_Incom
Income Taxes - Schedule of Income before Income Tax, Domestic and Foreign (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Nov. 03, 2013 | Jul. 28, 2013 | Apr. 28, 2013 | Jan. 27, 2013 | Oct. 28, 2012 | Jul. 29, 2012 | Apr. 29, 2012 | Jan. 29, 2012 | Nov. 03, 2013 | Oct. 28, 2012 | Oct. 30, 2011 |
Income Tax Disclosure [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
U.S. Domestic | ' | ' | ' | ' | ' | ' | ' | ' | ($27,273) | ($18,008) | $3,511 |
International, principally Europe | ' | ' | ' | ' | ' | ' | ' | ' | -3,133 | 6,796 | 11,770 |
INCOME (LOSS) BEFORE INCOME TAXES | $1,374 | $1,612 | ($16,878) | ($16,514) | ($1,914) | ($9,681) | $878 | ($495) | ($30,406) | ($11,212) | $15,281 |
Income_Taxes_Schedule_of_Compo
Income Taxes - Schedule of Components of Income Tax Expense (Benefit) (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Nov. 03, 2013 | Jul. 28, 2013 | Apr. 28, 2013 | Jan. 27, 2013 | Oct. 28, 2012 | Jul. 29, 2012 | Apr. 29, 2012 | Jan. 29, 2012 | Nov. 03, 2013 | Oct. 28, 2012 | Oct. 30, 2011 |
Current: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
U.S. Federal | ' | ' | ' | ' | ' | ' | ' | ' | ($146) | ($558) | $991 |
State and local | ' | ' | ' | ' | ' | ' | ' | ' | -378 | 75 | -528 |
International, principally Europe | ' | ' | ' | ' | ' | ' | ' | ' | 2,675 | 1,068 | 4,122 |
Total current | ' | ' | ' | ' | ' | ' | ' | ' | 2,151 | 585 | 4,585 |
Deferred: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
U.S. Federal | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
State and local | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -2,500 |
International, principally Europe | ' | ' | ' | ' | ' | ' | ' | ' | -1,682 | 1,806 | -2,433 |
Total deferred | 54 | 221 | -954 | -1,003 | -14 | 1,348 | 203 | 269 | -1,682 | 1,806 | -4,933 |
Income tax expense (benefit) | ($246) | ($444) | $583 | $576 | $98 | $1,560 | $331 | $402 | $469 | $2,391 | ($348) |
Income_Taxes_Schedule_of_Incom1
Income Taxes - Schedule of Income Tax Rate Reconciliation (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Nov. 03, 2013 | Jul. 28, 2013 | Apr. 28, 2013 | Jan. 27, 2013 | Oct. 28, 2012 | Jul. 29, 2012 | Apr. 29, 2012 | Jan. 29, 2012 | Nov. 03, 2013 | Oct. 28, 2012 | Oct. 30, 2011 |
Income Tax Disclosure [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
U.S. federal statutory rate | ' | ' | ' | ' | ' | ' | ' | ' | ($10,642) | ($3,924) | $5,349 |
State income tax, net of U.S. federal tax benefits | ' | ' | ' | ' | ' | ' | ' | ' | -1,463 | -95 | 495 |
Income from international sources | ' | ' | ' | ' | ' | ' | ' | ' | 119 | 2,127 | 5,312 |
Foreign permanent differences | ' | ' | ' | ' | ' | ' | ' | ' | -1,539 | -286 | 841 |
International tax rate differentials | ' | ' | ' | ' | ' | ' | ' | ' | 14 | 98 | -1,274 |
General business credits | ' | ' | ' | ' | ' | ' | ' | ' | -4,977 | -2,967 | -5,363 |
Meals and entertainment | ' | ' | ' | ' | ' | ' | ' | ' | 987 | 1,713 | 2,013 |
Foreign tax credit | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -1,857 |
Other, net | ' | ' | ' | ' | ' | ' | ' | ' | 1,258 | -770 | 1,732 |
Change in valuation allowance for deferred tax assets | ' | ' | ' | ' | ' | ' | ' | ' | 16,712 | 6,495 | -7,596 |
Income tax expense (benefit) | ($246) | ($444) | $583 | $576 | $98 | $1,560 | $331 | $402 | $469 | $2,391 | ($348) |
Income_Taxes_Components_of_Def
Income Taxes - Components of Deferred Tax Assets and Liabilities (Detail) (USD $) | Nov. 03, 2013 | Jul. 28, 2013 | Apr. 28, 2013 | Jan. 27, 2013 | Oct. 28, 2012 | Jul. 29, 2012 | Apr. 29, 2012 | Jan. 29, 2012 |
In Thousands, unless otherwise specified | ||||||||
Deferred tax assets: | ' | ' | ' | ' | ' | ' | ' | ' |
Net operating loss carryforwards | $55,130 | ' | ' | ' | $35,163 | ' | ' | ' |
US federal tax credit carryforwards | 27,676 | ' | ' | ' | 20,018 | ' | ' | ' |
Purchased intangible assets | 13,363 | ' | ' | ' | 15,683 | ' | ' | ' |
Deferred income | 10,418 | ' | ' | ' | 13,809 | ' | ' | ' |
Compensation accruals | 7,996 | ' | ' | ' | 7,949 | ' | ' | ' |
Accelerated tax depreciation and amortization | ' | ' | ' | ' | 1,538 | ' | ' | ' |
Other accruals, reserves and allowances | 548 | ' | ' | ' | 519 | ' | ' | ' |
Other, net | 3,704 | ' | ' | ' | 5,585 | ' | ' | ' |
Total deferred tax assets | 118,835 | ' | ' | ' | 100,264 | ' | ' | ' |
Less valuation allowance | -100,376 | ' | ' | ' | -82,952 | ' | ' | ' |
Deferred tax assets, net | 18,459 | ' | ' | ' | 17,312 | ' | ' | ' |
Deferred tax liabilities: | ' | ' | ' | ' | ' | ' | ' | ' |
Unremitted earnings from foreign subsidiaries | 8,769 | ' | ' | ' | 8,974 | ' | ' | ' |
Software development costs | 883 | ' | ' | ' | 891 | ' | ' | ' |
Other, net | 4,783 | ' | ' | ' | 5,139 | ' | ' | ' |
Total deferred tax liabilities | 14,435 | ' | ' | ' | 15,004 | ' | ' | ' |
Net deferred tax asset | 4,024 | ' | ' | ' | 2,308 | ' | ' | ' |
Balance sheet classification | ' | ' | ' | ' | ' | ' | ' | ' |
Current assets | 1,014 | ' | ' | ' | 1,321 | ' | ' | ' |
Non-current assets | 9,286 | ' | ' | ' | 6,019 | ' | ' | ' |
Current liabilities | -4,574 | ' | ' | ' | -2,273 | ' | ' | ' |
Non-current liabilities | -1,702 | -2,764 | -2,762 | -2,760 | -2,759 | -3,531 | -3,493 | -3,494 |
Net deferred tax asset | $4,024 | ' | ' | ' | $2,308 | ' | ' | ' |
Income_Taxes_Additional_Inform
Income Taxes - Additional Information (Detail) (USD $) | 12 Months Ended | ||
Nov. 03, 2013 | Oct. 28, 2012 | Oct. 30, 2011 | |
Valuation Allowance [Line Items] | ' | ' | ' |
Operating loss carryforwards expiration year description | 'The U.S. federal NOL carryforwards will expire at various dates between 2031 and 2033, the U.S. state NOL carryforwards expire at various dates between 2031 and 2033, and the international NOL carryforwards expire at various dates with some indefinite. | ' | ' |
Net deferred tax assets, valuation allowance | $100,376,000 | $82,952,000 | ' |
Unrecognized tax benefits | 9,196,000 | 11,072,000 | 10,287,000 |
Accrued interest and penalties | 2,200,000 | 2,500,000 | ' |
United States-Federal [Member] | ' | ' | ' |
Valuation Allowance [Line Items] | ' | ' | ' |
Net operating loss carryforwards | 102,600,000 | ' | ' |
United States-State [Member] | ' | ' | ' |
Valuation Allowance [Line Items] | ' | ' | ' |
Net operating loss carryforwards | 162,100,000 | ' | ' |
International [Member] | ' | ' | ' |
Valuation Allowance [Line Items] | ' | ' | ' |
Net operating loss carryforwards | $40,600,000 | ' | ' |
U.S. Domestic [Member] | ' | ' | ' |
Valuation Allowance [Line Items] | ' | ' | ' |
Domestic operating loss period | '3 years | ' | ' |
IRS [Member] | Minimum [Member] | ' | ' | ' |
Valuation Allowance [Line Items] | ' | ' | ' |
Income tax examination, ending year under tax examination | '2004 | ' | ' |
IRS [Member] | Maximum [Member] | ' | ' | ' |
Valuation Allowance [Line Items] | ' | ' | ' |
Income tax examination, ending year under tax examination | '2010 | ' | ' |
Canada Revenue Authority [Member] | Minimum [Member] | ' | ' | ' |
Valuation Allowance [Line Items] | ' | ' | ' |
Income tax examination, ending year under tax examination | '2006 | ' | ' |
Canada Revenue Authority [Member] | Maximum [Member] | ' | ' | ' |
Valuation Allowance [Line Items] | ' | ' | ' |
Income tax examination, ending year under tax examination | '2010 | ' | ' |
Income_Taxes_Schedule_of_Uncer
Income Taxes - Schedule of Uncertain Tax Positions (Detail) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Nov. 03, 2013 | Oct. 28, 2012 |
Income Tax Disclosure [Abstract] | ' | ' |
Balance, beginning of year | $11,072 | $10,287 |
Increase related to current year tax provisions | 73 | 1,069 |
Settlements | -313 | ' |
Lapse of statute of limitations | -1,636 | -284 |
Balance, ending of year | $9,196 | $11,072 |
Income_Taxes_Schedule_of_Open_
Income Taxes - Schedule of Open Tax Years, by Major Tax Jurisdiction (Detail) | 12 Months Ended |
Nov. 03, 2013 | |
United States-Federal [Member] | ' |
Valuation Allowance [Line Items] | ' |
Open tax year | '2004 |
United States-State [Member] | ' |
Valuation Allowance [Line Items] | ' |
Open tax year | '2004 |
Canada [Member] | ' |
Valuation Allowance [Line Items] | ' |
Open tax year | '2006 |
Germany [Member] | ' |
Valuation Allowance [Line Items] | ' |
Open tax year | '2006 |
United Kingdom [Member] | ' |
Valuation Allowance [Line Items] | ' |
Open tax year | '2006 |
Debt_Additional_Information_De
Debt - Additional Information (Detail) (USD $) | 12 Months Ended | ||
Nov. 03, 2013 | Jan. 25, 2013 | Oct. 28, 2012 | |
Extinguishment of Debt [Line Items] | ' | ' | ' |
Total outstanding short-term borrowings | $168,114,000 | ' | ' |
Interest rate | 8.20% | ' | 8.20% |
Short-Term Financing Program [Member] | ' | ' | ' |
Extinguishment of Debt [Line Items] | ' | ' | ' |
Borrowing capacity of facility | 200,000,000 | ' | ' |
Available borrowing capacity of facility | 25,500,000 | ' | ' |
Increase in borrowing capacity of facility | 200,000,000 | ' | ' |
Borrowing capacity of facility available | 150,000,000 | ' | ' |
Line of credit facility amended expiration date | 29-Apr-13 | ' | ' |
Liquidity agreement expiration date | 31-Dec-14 | ' | ' |
Amount outstanding | 142,000,000 | ' | 120,000,000 |
Weighted average interest rate | 1.50% | ' | 1.50% |
8.2% Term Loan [Member] | ' | ' | ' |
Extinguishment of Debt [Line Items] | ' | ' | ' |
Amount outstanding | 9,000,000 | ' | ' |
Line of credit facility, term | '20 years | ' | ' |
Line of credit facility, expiration date | 1-Oct-21 | ' | ' |
Interest rate | 8.20% | ' | ' |
Interest payments per quarter | 400,000 | ' | ' |
Short-Term Credit Facility [Member] | ' | ' | ' |
Extinguishment of Debt [Line Items] | ' | ' | ' |
Borrowing capacity of facility | 245,000,000 | ' | ' |
Cash collateral of outstanding short-term borrowings | 31,800,000 | ' | 35,600,000 |
Available borrowing capacity of facility | 19,700,000 | ' | ' |
Amount outstanding | 22,300,000 | ' | 21,900,000 |
Weighted average interest rate | 2.20% | ' | 3.10% |
Borrowing under various currencies | 45,000,000 | ' | ' |
Cash collateral covering percentage | 105.00% | ' | ' |
Extension to expiry date | 31-Mar-15 | ' | ' |
Minimum liquidity requirement | ' | 15,000,000 | ' |
Letters of credit outstanding | 3,000,000 | ' | 3,000,000 |
Short-Term Credit Facility [Member] | Minimum [Member] | ' | ' | ' |
Extinguishment of Debt [Line Items] | ' | ' | ' |
Borrowing capacity of facility available | ' | 42,000,000 | ' |
Short-Term Credit Facility [Member] | Maximum [Member] | ' | ' | ' |
Extinguishment of Debt [Line Items] | ' | ' | ' |
Borrowing capacity of facility available | ' | 45,000,000 | ' |
Short-Term Credit Facility [Member] | Letters of Credit [Member] | ' | ' | ' |
Extinguishment of Debt [Line Items] | ' | ' | ' |
Borrowing capacity of facility | 25,000,000 | ' | ' |
Short-Term Credit Facility [Member] | Letters of Credit [Member] | Minimum [Member] | ' | ' | ' |
Extinguishment of Debt [Line Items] | ' | ' | ' |
Borrowing capacity of facility available | ' | 15,000,000 | ' |
Short-Term Credit Facility [Member] | Letters of Credit [Member] | Maximum [Member] | ' | ' | ' |
Extinguishment of Debt [Line Items] | ' | ' | ' |
Borrowing capacity of facility available | ' | $25,000,000 | ' |
Debt_Schedule_of_LongTerm_Debt
Debt - Schedule of Long-Term Debt (Detail) (USD $) | Nov. 03, 2013 | Jul. 28, 2013 | Apr. 28, 2013 | Jan. 27, 2013 | Oct. 28, 2012 | Jul. 29, 2012 | Apr. 29, 2012 | Jan. 29, 2012 |
In Thousands, unless otherwise specified | ||||||||
Extinguishment of Debt [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
8.2% term loan | $8,966 | ' | ' | ' | ' | ' | ' | ' |
Less amounts due within one year | 839 | ' | ' | ' | 768 | ' | ' | ' |
Total long-term debt | 8,127 | 8,414 | 8,624 | 8,831 | 9,033 | 9,231 | 9,425 | 9,615 |
8.2% Term Loan [Member] | ' | ' | ' | ' | ' | ' | ' | ' |
Extinguishment of Debt [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
8.2% term loan | $8,966 | ' | ' | ' | $9,801 | ' | ' | ' |
Debt_Schedule_of_LongTerm_Debt1
Debt - Schedule of Long-Term Debt (Parenthetical) (Detail) | Nov. 03, 2013 | Oct. 28, 2012 |
Debt Disclosure [Abstract] | ' | ' |
Term loan interest rate | 8.20% | 8.20% |
Debt_Summary_of_Principal_Paym
Debt - Summary of Principal Payment Maturities on Long-Term Debt Outstanding (Detail) (USD $) | Nov. 03, 2013 |
In Thousands, unless otherwise specified | |
Debt Disclosure [Abstract] | ' |
2014 | $839 |
2015 | 911 |
2016 | 988 |
2017 | 1,072 |
2018 | 1,164 |
Thereafter | 3,992 |
Total | $8,966 |
Hedging_Additional_Information
Hedging - Additional Information (Detail) (USD $) | 12 Months Ended | ||
Nov. 03, 2013 | Oct. 28, 2012 | Oct. 30, 2011 | |
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ' | ' | ' |
Outstanding short-term borrowings | $168,114,000 | ' | ' |
Derivatives and Hedging [Member] | ' | ' | ' |
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ' | ' | ' |
Outstanding short-term borrowings | 22,300,000 | 21,900,000 | ' |
Not Designated as Hedging Instrument [Member] | Foreign Currency Gain (Loss) [Member] | ' | ' | ' |
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ' | ' | ' |
Net gains/ (losses) on borrowings and instruments | $100,000 | ($600,000) | $500,000 |
Stockholders_Equity_Additional
Stockholders' Equity - Additional Information (Detail) (USD $) | 12 Months Ended | |||||||
Nov. 03, 2013 | Oct. 28, 2012 | Oct. 30, 2011 | Nov. 03, 2013 | Oct. 28, 2012 | Nov. 03, 2013 | Jun. 02, 2008 | Sep. 06, 2006 | |
Common Stock [Member] | Common Stock [Member] | 2008 Authorization [Member] | 2008 Authorization [Member] | 2006 Plan [Member] | ||||
Common Stock [Member] | Common Stock [Member] | Common Stock [Member] | ||||||
Equity, Class of Treasury Stock [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock, voting rights | 'Each outstanding share of common stock is entitled to one vote per share on all matters submitted to a vote by shareholders | ' | ' | ' | ' | ' | ' | ' |
Common stock, dividends declared | $0 | $0 | $0 | ' | ' | ' | ' | ' |
Common stock, dividends paid | $0 | $0 | $0 | ' | ' | ' | ' | ' |
Common stock, shares redemption | 0 | ' | ' | ' | ' | ' | ' | ' |
Preferred stock, shares outstanding | 0 | ' | ' | ' | ' | ' | ' | ' |
Common stock repurchase authorized | ' | ' | ' | 0 | 0 | ' | 1,500,000 | 1,500,000 |
Common stock repurchase authorized | ' | ' | ' | ' | ' | 309,255 | ' | ' |
Stockholders_Equity_Accumulate
Stockholders' Equity - Accumulated Balances for Each Classification of Other Comprehensive Income (Loss) (Detail) (USD $) | 12 Months Ended | ||||||||
In Thousands, unless otherwise specified | Nov. 03, 2013 | Oct. 28, 2012 | Oct. 30, 2011 | Jul. 28, 2013 | Apr. 28, 2013 | Jan. 27, 2013 | Jul. 29, 2012 | Apr. 29, 2012 | Jan. 29, 2012 |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Beginning balance | ($2,739) | ($2,071) | ' | ($5,794) | ($5,055) | ($3,847) | ($2,674) | ($1,591) | ($2,593) |
Current period other comprehensive income (loss) | -2,504 | -668 | 464 | ' | ' | ' | ' | ' | ' |
Ending balance | -5,243 | -2,739 | -2,071 | -5,794 | -5,055 | -3,847 | -2,674 | -1,591 | -2,593 |
Foreign Currency Gains/(Losses) [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Beginning balance | -2,676 | -2,005 | ' | ' | ' | ' | ' | ' | ' |
Current period other comprehensive income (loss) | -2,531 | -671 | ' | ' | ' | ' | ' | ' | ' |
Ending balance | -5,207 | -2,676 | ' | ' | ' | ' | ' | ' | ' |
Unrealized Gains/(Losses) on Securities [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Beginning balance | -63 | -66 | ' | ' | ' | ' | ' | ' | ' |
Current period other comprehensive income (loss) | 27 | 3 | ' | ' | ' | ' | ' | ' | ' |
Ending balance | ($36) | ($63) | ' | ' | ' | ' | ' | ' | ' |
Stock_Compensation_Plans_Addit
Stock Compensation Plans - Additional Information (Detail) (USD $) | 3 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | 1 Months Ended | 12 Months Ended | ||||||||||||||
Nov. 03, 2013 | Jul. 28, 2013 | Apr. 28, 2013 | Jan. 27, 2013 | Oct. 28, 2012 | Jul. 29, 2012 | Apr. 29, 2012 | Jan. 29, 2012 | Nov. 03, 2013 | Oct. 28, 2012 | Oct. 30, 2011 | Apr. 30, 2007 | Nov. 03, 2013 | Oct. 28, 2012 | Oct. 30, 2011 | Dec. 18, 2007 | Dec. 18, 2007 | Dec. 18, 2007 | Nov. 03, 2013 | 11-May-11 | Dec. 18, 2007 | Aug. 02, 2011 | Oct. 28, 2012 | |
CompensationPlan | 2006 Plan [Member] | 2006 Plan [Member] | 2006 Plan [Member] | 2006 Plan [Member] | 2006 Plan [Member] | 2006 Plan [Member] | 2006 Plan [Member] | 2006 Plan [Member] | 2006 Plan [Member] | 2006 Plan [Member] | 2006 Plan [Member] | 2006 Plan [Member] | |||||||||||
2007 Through 2011 [Member] | 2008 Through 2012 [Member] | Restricted Stock Units [Member] | Restricted Stock Units [Member] | Employee Stock Option [Member] | Employee Stock Option [Member] | Employee Stock Option [Member] | Employee Stock Option [Member] | ||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of share-based compensation plans | ' | ' | ' | ' | ' | ' | ' | ' | 2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares available for future grants | 900,850 | ' | ' | ' | ' | ' | ' | ' | 900,850 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Aggregate number of shares issued | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair market value of Company's common stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Restricted stock units granted | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 233,000 | 110,000 | ' | ' | ' | ' |
Weighted average grant date fair value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $13.32 | $7.16 | ' | ' | ' | ' |
Stock options granted to purchase common stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 15,000 | 152,996 | 7,000 | ' |
Weighted average exercise price | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $13.32 | ' | ' |
Vesting period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '5 years | '4 years | ' | '2 years 6 months | '5 years | ' | ' | ' |
Compensation expense | $33,000 | $82,000 | $172,000 | $129,000 | ($27,000) | ($5,000) | $105,000 | $54,000 | $416,000 | $127,000 | $460,000 | ' | $0 | $0 | $0 | ' | ' | ' | $400,000 | ' | ' | ' | ' |
Forfeiture rate of stock option | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 20.00% | ' |
Forfeiture rate of stock option description | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'Over a ten week period |
Total unrecognized compensation cost | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $500,000 | ' | ' | ' | ' |
Weighted average period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '1 year 9 months 18 days | ' | ' | ' | ' |
Weighted-average fair value of stock option granted | ' | ' | ' | ' | ' | ' | ' | ' | $0 | $0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock_Compensation_Plans_Sched
Stock Compensation Plans - Schedule of Transactions Involving Outstanding Stock Options and Non-Vested Restricted Stock and Restricted Stock Unit Awards Under 2006 Plan (Detail) (USD $) | Nov. 03, 2013 | Oct. 28, 2012 | Oct. 30, 2011 | Nov. 03, 2013 | Oct. 28, 2012 | Oct. 30, 2011 | Dec. 18, 2007 | Nov. 03, 2013 | Oct. 28, 2012 | Oct. 30, 2011 | Nov. 03, 2013 | Oct. 28, 2012 | Oct. 30, 2011 | Oct. 31, 2010 |
In Thousands, except Share data, unless otherwise specified | Restricted Stock Units [Member] | Restricted Stock Units [Member] | Restricted Stock Units [Member] | 2006 Plan [Member] | 2006 Plan [Member] | 2006 Plan [Member] | 2006 Plan [Member] | 2006 Plan [Member] | 2006 Plan [Member] | 2006 Plan [Member] | 2006 Plan [Member] | |||
Restricted Stock Units [Member] | Restricted Stock Units [Member] | Restricted Stock Units [Member] | Restricted Stock Units [Member] | Stock Options [Member] | Stock Options [Member] | Stock Options [Member] | Stock Options [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of shares, Outstanding Beginning balance | 491,650 | 555,650 | 743,667 | ' | ' | ' | ' | ' | ' | ' | 537,950 | 715,017 | 749,783 | ' |
Number of shares, Granted | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 22,000 | ' |
Number of shares, Expired | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -28,700 | -27,800 | -5,600 | ' |
Number of shares, Forfeited | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -25,100 | -149,267 | -51,166 | ' |
Number of shares, Vested | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of shares, Outstanding Ending balance | 491,650 | 555,650 | 743,667 | ' | ' | ' | ' | ' | ' | ' | 484,150 | 537,950 | 715,017 | 749,783 |
Weighted average exercise price, Outstanding Beginning balance | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $6.53 | $7.51 | $7.48 | ' |
Number of shares, Expected to vest | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 87,450 | ' | ' | ' |
Weighted average exercise price, Granted | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $10.06 | ' |
Number of shares, Exercisable | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 396,700 | ' | ' | ' |
Weighted average exercise price, Expired | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $6.39 | $6.39 | $6.39 | ' |
Weighted average exercise price, Forfeited | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $7.22 | $11.25 | $8.34 | ' |
Weighted average exercise price, Vested | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Weighted average exercise price, Outstanding Ending balance | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $6.50 | $6.53 | $7.51 | $7.48 |
Aggregate Intrinsic Value, Outstanding Beginning balance | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $314 | $232 | $1,059 | ' |
Weighted average exercise price, Expected to vest | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $6.55 | ' | ' | ' |
Aggregate Intrinsic Value, Outstanding Ending balance | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,041 | 314 | 232 | 1,059 |
Weighted average exercise price, Exercisable | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $6.49 | ' | ' | ' |
Number of shares, Outstanding Beginning balance | ' | ' | ' | 73,334 | 0 | 0 | ' | ' | ' | 189,142 | ' | ' | ' | ' |
Aggregate Intrinsic Value, Expected to vest | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 185 | ' | ' | ' |
Weighted average contractual life, Outstanding | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '5 years 5 months 1 day | '6 years 5 months 5 days | '7 years 3 months 22 days | '8 years 2 months 16 days |
Number of shares, Granted | ' | ' | ' | ' | ' | ' | 233,000 | 110,000 | ' | ' | ' | ' | ' | ' |
Aggregate Intrinsic Value, Exercisable | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $856 | ' | ' | ' |
Weighted average contractual life, Expected to vest | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '5 years 6 months | ' | ' | ' |
Number of shares, Expired | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Weighted average contractual life, Exercisable | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '5 years 4 months 24 days | ' | ' | ' |
Number of shares, Forfeited | ' | ' | ' | ' | ' | ' | ' | ' | ' | -189,142 | ' | ' | ' | ' |
Number of shares, Vested | ' | ' | ' | ' | ' | ' | ' | -36,666 | ' | ' | ' | ' | ' | ' |
Number of shares, Outstanding Ending balance | ' | ' | ' | 73,334 | 0 | 0 | ' | 73,334 | ' | ' | ' | ' | ' | ' |
Weighted average grant date fair value, Outstanding Beginning balance | ' | ' | ' | ' | ' | ' | ' | ' | ' | $13.32 | ' | ' | ' | ' |
Number of shares, Expected to vest | ' | ' | ' | ' | ' | ' | ' | 73,334 | ' | ' | ' | ' | ' | ' |
Weighted average grant date fair value, Granted | ' | ' | ' | ' | ' | ' | $13.32 | $7.16 | ' | ' | ' | ' | ' | ' |
Weighted average grant date fair value, Expired | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Weighted average grant date fair value, Forfeited | ' | ' | ' | ' | ' | ' | ' | ' | ' | $13.32 | ' | ' | ' | ' |
Weighted average grant date fair value, Vested | ' | ' | ' | ' | ' | ' | ' | $6.25 | ' | ' | ' | ' | ' | ' |
Weighted average grant date fair value, Outstanding Ending balance | ' | ' | ' | ' | ' | ' | ' | $7.61 | ' | ' | ' | ' | ' | ' |
Weighted average grant date fair value, Expected to vest | ' | ' | ' | ' | ' | ' | ' | $7.61 | ' | ' | ' | ' | ' | ' |
Stock_Compensation_Plans_Summa
Stock Compensation Plans - Summary of Transactions Involving Outstanding Stock Options Under 1995 Plan (Detail) (USD $) | 12 Months Ended | |||
In Thousands, except Share data, unless otherwise specified | Nov. 03, 2013 | Oct. 28, 2012 | Oct. 30, 2011 | Oct. 31, 2010 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Number of shares, Outstanding Ending balance | 491,650 | 555,650 | 743,667 | ' |
1995 Plan [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Number of shares, Outstanding Beginning balance | 17,700 | 28,650 | 46,050 | ' |
Number of shares, Exercised | ' | ' | ' | ' |
Number of shares, Expired | -10,200 | -10,950 | -17,400 | ' |
Number of shares, Outstanding Ending balance | 7,500 | 17,700 | 28,650 | 46,050 |
Weighted average exercise price, Outstanding Beginning balance | $13.31 | $12.21 | $12.14 | ' |
Number of shares, Vested and exercisable | 7,500 | ' | ' | ' |
Weighted average exercise price, Exercised | ' | ' | ' | ' |
Weighted average exercise price, Expired | $9.27 | $10.42 | $12.03 | ' |
Weighted average exercise price, Outstanding Ending balance | $18.81 | $13.31 | $12.21 | $12.14 |
Aggregate Intrinsic Value, Outstanding Beginning balance | ' | ' | $13 | ' |
Weighted average exercise price, Vested and exercisable | $18.81 | ' | ' | ' |
Aggregate Intrinsic Value, Outstanding Ending balance | ' | ' | ' | 13 |
Weighted average contractual life, Outstanding | '9 months 4 days | '1 year 4 days | '1 year 4 months 21 days | '1 year 10 months 24 days |
Aggregate Intrinsic Value, Vested and exercisable | ' | ' | ' | ' |
Weighted average exercise price, Vested and exercisable | '9 months 4 days | ' | ' | ' |
Stock_Compensation_Plans_Summa1
Stock Compensation Plans - Summary of Estimated Fair Value of Stock Options (Detail) (USD $) | 12 Months Ended | ||
Nov. 03, 2013 | Oct. 28, 2012 | Oct. 30, 2011 | |
Employee Stock Option [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Weighted-average fair value of stock option granted | $0 | $0 | $7.06 |
Expected volatility | ' | ' | 59.00% |
Expected term (in years) | ' | ' | '10 years |
Risk-free interest rate | ' | ' | 3.00% |
Expected dividend yield | ' | ' | 0.00% |
Stock_Compensation_Plans_Summa2
Stock Compensation Plans - Summary of Share Based Compensation Expense Recognized in Selling, Administrative and Other Operating Costs in Consolidated Statements of Operations (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Nov. 03, 2013 | Oct. 28, 2012 | Oct. 30, 2011 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Share-based compensation expense related to employee stock options | $416 | $127 | $460 |
2006 Plan [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Share-based compensation expense related to employee stock options | $416 | $127 | $460 |
Earnings_Loss_Per_Share_Summar
Earnings (Loss) Per Share - Summary of Basic and Diluted Net Income (Loss) Per Share (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, except Per Share data, unless otherwise specified | Nov. 03, 2013 | Jul. 28, 2013 | Apr. 28, 2013 | Jan. 27, 2013 | Oct. 28, 2012 | Jul. 29, 2012 | Apr. 29, 2012 | Jan. 29, 2012 | Nov. 03, 2013 | Oct. 28, 2012 | Oct. 30, 2011 |
Numerator | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income (loss) | $1,620 | $2,056 | ($17,461) | ($17,090) | ($2,012) | ($11,241) | $547 | ($897) | ($30,875) | ($13,603) | $15,629 |
Denominator | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Basic weighted average number of common shares | 20,837 | 20,829 | 20,825 | 20,813 | 20,813 | 20,813 | 20,813 | 20,813 | 20,826 | 20,813 | 20,813 |
Dilutive weighted average number of common shares | 21,050 | 21,019 | 20,825 | 20,813 | 20,813 | 20,813 | 20,902 | 20,813 | 20,826 | 20,813 | 20,896 |
Net income (loss) per share - basic | ' | ' | ' | ' | ' | ' | ' | ' | ($1.48) | ($0.65) | $0.75 |
Net income (loss) per share - diluted | ' | ' | ' | ' | ' | ' | ' | ' | ($1.48) | ($0.65) | $0.75 |
Earnings_Loss_Per_Share_Additi
Earnings (Loss) Per Share - Additional Information (Detail) | Nov. 03, 2013 | Oct. 28, 2012 | Oct. 30, 2011 |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' |
Options to purchase common stock outstanding | 491,650 | 555,650 | 743,667 |
Restricted Stock Units [Member] | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' |
Restricted shares outstanding | 73,334 | 0 | 0 |
Related_Party_Transactions_Add
Related Party Transactions - Additional Information (Detail) (USD $) | 12 Months Ended | ||
Nov. 03, 2013 | Oct. 28, 2012 | Oct. 30, 2011 | |
Lloyd Frank [Member] | ' | ' | ' |
Related Party Transaction [Line Items] | ' | ' | ' |
Amount paid for rendered services to related parties | $2,500,000 | $4,300,000 | $4,300,000 |
Michael Shaw [Member] | ' | ' | ' |
Related Party Transaction [Line Items] | ' | ' | ' |
Amount paid for rendered services to related parties | $77,000 | $72,500 | $48,000 |
Restructuring_Additional_Infor
Restructuring - Additional Information (Detail) (USD $) | 12 Months Ended |
In Millions, unless otherwise specified | Nov. 03, 2013 |
Restructuring And Related Activities [Abstract] | ' |
Severance related restructuring costs | $3.90 |
Restructuring_Summary_of_Restr
Restructuring - Summary of Restructuring Costs and Related Liability Balances (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |||
In Thousands, unless otherwise specified | Nov. 03, 2013 | Jul. 28, 2013 | Apr. 28, 2013 | Jan. 27, 2013 | Nov. 03, 2013 |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' | ' |
Accrual at October 28, 2012 | ' | ' | ' | ' | ' |
Workforce reductions | 2,815 | 223 | 948 | 740 | 4,726 |
Cash payments | ' | ' | ' | ' | -2,186 |
Accrual at November 3, 2013 | 2,540 | ' | ' | ' | 2,540 |
Staffing Services [Member] | ' | ' | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' | ' |
Accrual at October 28, 2012 | ' | ' | ' | ' | ' |
Workforce reductions | ' | ' | ' | ' | 781 |
Cash payments | ' | ' | ' | ' | -781 |
Accrual at November 3, 2013 | ' | ' | ' | ' | ' |
Computer Systems [Member] | ' | ' | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' | ' |
Accrual at October 28, 2012 | ' | ' | ' | ' | ' |
Workforce reductions | ' | ' | ' | ' | 3,945 |
Cash payments | ' | ' | ' | ' | -1,405 |
Accrual at November 3, 2013 | $2,540 | ' | ' | ' | $2,540 |
Commitments_and_Contingencies_1
Commitments and Contingencies - Schedule of Future Minimum Rental Payments for Operating Leases (Detail) (USD $) | Nov. 03, 2013 |
In Thousands, unless otherwise specified | |
Commitments And Contingencies Disclosure [Abstract] | ' |
2014 | $17,352 |
2015 | 13,363 |
2016 | 8,719 |
2017 | 6,099 |
2018 | 4,093 |
Thereafter | $4,398 |
Commitments_and_Contingencies_2
Commitments and Contingencies - Additional Information (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Nov. 03, 2013 | Oct. 28, 2012 | Oct. 30, 2011 |
Commitments And Contingencies Disclosure [Abstract] | ' | ' | ' |
Lease agreements expire period | '2022 | ' | ' |
Operating leases rental expense | $19.90 | $19.80 | $20.30 |
Subsequent_Events_Additional_I
Subsequent Events - Additional Information (Detail) (Short-Term Financing Program [Member]) | 12 Months Ended | 0 Months Ended |
Nov. 03, 2013 | Dec. 27, 2013 | |
Subsequent Event [Member] | ||
Subsequent Event [Line Items] | ' | ' |
Liquidity agreement expiration date | 31-Dec-14 | 31-Dec-16 |
Segment_Disclosures_Summary_of
Segment Disclosures - Summary of Sales and Segment Operating Income (Loss) by Reportable Operating Segment (Detail) (USD $) | 0 Months Ended | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Jul. 31, 2012 | Nov. 03, 2013 | Jul. 28, 2013 | Apr. 28, 2013 | Jan. 27, 2013 | Oct. 28, 2012 | Jul. 29, 2012 | Apr. 29, 2012 | Jan. 29, 2012 | Nov. 03, 2013 | Oct. 28, 2012 | Oct. 30, 2011 |
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
NET REVENUE | ' | $546,795 | $504,213 | $519,724 | $520,205 | $571,559 | $558,032 | $573,443 | $543,093 | $2,090,937 | $2,246,127 | $2,238,109 |
Expenses | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Direct cost of staffing services revenue | ' | 418,824 | 390,432 | 413,116 | 411,993 | 440,600 | 441,124 | 441,341 | 415,868 | 1,634,365 | 1,738,933 | 1,698,711 |
Cost of other revenue | ' | 42,978 | 37,595 | 39,873 | 39,753 | 39,363 | 38,296 | 42,759 | 43,435 | 160,199 | 163,853 | 166,211 |
Selling, administrative and other operating costs | ' | 76,577 | 72,128 | 74,992 | 70,337 | 81,259 | 78,093 | 77,003 | 74,492 | 294,034 | 310,847 | 302,882 |
Amortization of purchased intangible assets | ' | 341 | 337 | 346 | 345 | 348 | 344 | 345 | 345 | 1,369 | 1,382 | 1,347 |
Restructuring costs | ' | 2,815 | 223 | 948 | 740 | ' | ' | ' | ' | 4,726 | ' | ' |
Segment operating income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,530 | 41,843 | 77,430 |
Corporate general and administrative | ' | ' | ' | ' | ' | ' | ' | ' | ' | 9,286 | 10,731 | 8,472 |
Gain on sale of building | -4,418 | ' | ' | ' | ' | -4,418 | ' | ' | ' | ' | -4,418 | ' |
Restatement and associated investigations | ' | 2,462 | 1,159 | 7,387 | 13,820 | 14,906 | 9,800 | 9,169 | 9,031 | 24,828 | 42,906 | 49,193 |
OPERATING INCOME (LOSS) | ' | 2,798 | 2,339 | -16,938 | -16,783 | -499 | -9,625 | 2,826 | -78 | -28,584 | -7,376 | 19,765 |
Other income (expense), net | ' | ' | ' | ' | ' | ' | ' | ' | ' | -1,822 | -3,836 | -4,484 |
INCOME (LOSS) BEFORE INCOME TAXES | ' | 1,374 | 1,612 | -16,878 | -16,514 | -1,914 | -9,681 | 878 | -495 | -30,406 | -11,212 | 15,281 |
Staffing Services [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Expenses | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Restructuring costs | ' | ' | ' | ' | ' | ' | ' | ' | ' | 781 | ' | ' |
Computer Systems [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Expenses | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Restructuring costs | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,945 | ' | ' |
Operating Segments [Member] | Staffing Services [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
NET REVENUE | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,899,723 | 2,027,601 | 1,957,905 |
Expenses | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Direct cost of staffing services revenue | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,634,365 | 1,738,933 | 1,698,711 |
Cost of other revenue | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Selling, administrative and other operating costs | ' | ' | ' | ' | ' | ' | ' | ' | ' | 239,105 | 251,410 | 244,343 |
Amortization of purchased intangible assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | 34 | 47 | 15 |
Restructuring costs | ' | ' | ' | ' | ' | ' | ' | ' | ' | 781 | ' | ' |
Segment operating income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | ' | 25,438 | 37,211 | 14,836 |
Operating Segments [Member] | Computer Systems [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
NET REVENUE | ' | ' | ' | ' | ' | ' | ' | ' | ' | 73,465 | 99,679 | 165,349 |
Expenses | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Direct cost of staffing services revenue | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cost of other revenue | ' | ' | ' | ' | ' | ' | ' | ' | ' | 65,680 | 68,281 | 76,022 |
Selling, administrative and other operating costs | ' | ' | ' | ' | ' | ' | ' | ' | ' | 24,314 | 26,897 | 28,835 |
Amortization of purchased intangible assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | 858 | 859 | 855 |
Restructuring costs | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,945 | ' | ' |
Segment operating income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | ' | -21,332 | 3,642 | 59,637 |
Operating Segments [Member] | Other [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
NET REVENUE | ' | ' | ' | ' | ' | ' | ' | ' | ' | 117,749 | 118,847 | 114,855 |
Expenses | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Direct cost of staffing services revenue | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cost of other revenue | ' | ' | ' | ' | ' | ' | ' | ' | ' | 94,519 | 95,572 | 90,189 |
Selling, administrative and other operating costs | ' | ' | ' | ' | ' | ' | ' | ' | ' | 21,329 | 21,809 | 21,232 |
Amortization of purchased intangible assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | 477 | 476 | 477 |
Segment operating income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | ' | $1,424 | $990 | $2,957 |
Segment_Disclosures_Summary_of1
Segment Disclosures - Summary of Assets by Reportable Operating Segment (Detail) (USD $) | Nov. 03, 2013 | Jul. 28, 2013 | Apr. 28, 2013 | Jan. 27, 2013 | Oct. 28, 2012 | Jul. 29, 2012 | Apr. 29, 2012 | Jan. 29, 2012 |
In Thousands, unless otherwise specified | ||||||||
Assets: | ' | ' | ' | ' | ' | ' | ' | ' |
TOTAL ASSETS | $500,312 | $501,771 | $525,050 | $524,457 | $557,572 | $572,765 | $593,431 | $556,674 |
Operating Segments [Member] | ' | ' | ' | ' | ' | ' | ' | ' |
Assets: | ' | ' | ' | ' | ' | ' | ' | ' |
TOTAL ASSETS | 375,690 | ' | ' | ' | 450,449 | ' | ' | ' |
Operating Segments [Member] | Staffing Services [Member] | ' | ' | ' | ' | ' | ' | ' | ' |
Assets: | ' | ' | ' | ' | ' | ' | ' | ' |
TOTAL ASSETS | 309,726 | ' | ' | ' | 363,402 | ' | ' | ' |
Operating Segments [Member] | Computer Systems [Member] | ' | ' | ' | ' | ' | ' | ' | ' |
Assets: | ' | ' | ' | ' | ' | ' | ' | ' |
TOTAL ASSETS | 24,428 | ' | ' | ' | 42,502 | ' | ' | ' |
Operating Segments [Member] | Other [Member] | ' | ' | ' | ' | ' | ' | ' | ' |
Assets: | ' | ' | ' | ' | ' | ' | ' | ' |
TOTAL ASSETS | 41,536 | ' | ' | ' | 44,545 | ' | ' | ' |
Corporate, Non-Segment [Member] | Cash, Investments and Other Corporate Assets [Member] | ' | ' | ' | ' | ' | ' | ' | ' |
Assets: | ' | ' | ' | ' | ' | ' | ' | ' |
TOTAL ASSETS | $124,622 | ' | ' | ' | $107,123 | ' | ' | ' |
Segment_Disclosures_Summary_of2
Segment Disclosures - Summary of Sales to External Customers and Long-lived Assets by Geographic Area (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Nov. 03, 2013 | Jul. 28, 2013 | Apr. 28, 2013 | Jan. 27, 2013 | Oct. 28, 2012 | Jul. 29, 2012 | Apr. 29, 2012 | Jan. 29, 2012 | Nov. 03, 2013 | Oct. 28, 2012 | Oct. 30, 2011 |
Net Revenue: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
NET REVENUE | $546,795 | $504,213 | $519,724 | $520,205 | $571,559 | $558,032 | $573,443 | $543,093 | $2,090,937 | $2,246,127 | $2,238,109 |
Long-lived assets: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-lived assets | 37,324 | 36,072 | 36,315 | 37,540 | 39,052 | 40,473 | 40,632 | 41,768 | 37,324 | 39,052 | ' |
Domestic [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-lived assets: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-lived assets | 32,354 | ' | ' | ' | 32,748 | ' | ' | ' | 32,354 | 32,748 | ' |
International [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-lived assets: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-lived assets | 4,970 | ' | ' | ' | 6,304 | ' | ' | ' | 4,970 | 6,304 | ' |
Operating Segments [Member] | Domestic [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net Revenue: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
NET REVENUE | ' | ' | ' | ' | ' | ' | ' | ' | 1,848,619 | 2,019,485 | 2,004,352 |
Operating Segments [Member] | International, Principally Europe [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net Revenue: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
NET REVENUE | ' | ' | ' | ' | ' | ' | ' | ' | $242,318 | $226,642 | $233,757 |
Segment_Disclosures_Summary_of3
Segment Disclosures - Summary of Capital Expenditures and Depreciation and Amortization by Operating Segments (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Nov. 03, 2013 | Jul. 28, 2013 | Apr. 28, 2013 | Jan. 27, 2013 | Oct. 28, 2012 | Jul. 29, 2012 | Apr. 29, 2012 | Jan. 29, 2012 | Nov. 03, 2013 | Oct. 28, 2012 | Oct. 30, 2011 |
Capital expenditures: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total Capital Expenditures | $4,706 | $2,765 | $1,760 | $2,391 | $3,165 | $4,627 | $2,960 | $2,950 | $11,622 | $13,702 | $17,917 |
Depreciation and amortization: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total Depreciation and Amortization | 3,551 | 3,550 | 3,676 | 4,154 | 4,062 | 4,022 | 4,075 | 4,354 | 14,931 | 16,513 | 19,735 |
Operating Segments [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Capital expenditures: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total Capital Expenditures | ' | ' | ' | ' | ' | ' | ' | ' | 11,267 | 11,613 | 14,904 |
Depreciation and amortization: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total Depreciation and Amortization | ' | ' | ' | ' | ' | ' | ' | ' | 11,769 | 15,138 | 17,443 |
Operating Segments [Member] | Staffing Services [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Capital expenditures: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total Capital Expenditures | ' | ' | ' | ' | ' | ' | ' | ' | 8,133 | 9,554 | 12,666 |
Depreciation and amortization: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total Depreciation and Amortization | ' | ' | ' | ' | ' | ' | ' | ' | 6,438 | 8,588 | 8,371 |
Operating Segments [Member] | Computer Systems [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Capital expenditures: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total Capital Expenditures | ' | ' | ' | ' | ' | ' | ' | ' | 2,396 | 1,872 | 1,914 |
Depreciation and amortization: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total Depreciation and Amortization | ' | ' | ' | ' | ' | ' | ' | ' | 3,762 | 4,680 | 7,002 |
Operating Segments [Member] | Other [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Capital expenditures: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total Capital Expenditures | ' | ' | ' | ' | ' | ' | ' | ' | 738 | 187 | 324 |
Depreciation and amortization: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total Depreciation and Amortization | ' | ' | ' | ' | ' | ' | ' | ' | 1,569 | 1,870 | 2,070 |
Corporate, Non-Segment [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Capital expenditures: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total Capital Expenditures | ' | ' | ' | ' | ' | ' | ' | ' | 355 | 2,089 | 3,013 |
Depreciation and amortization: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total Depreciation and Amortization | ' | ' | ' | ' | ' | ' | ' | ' | $3,162 | $1,375 | $2,292 |
Quarterly_Financial_Informatio2
Quarterly Financial Information - Selected Consolidated Statements of Operations Data (Detail) (USD $) | 0 Months Ended | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, except Per Share data, unless otherwise specified | Jul. 31, 2012 | Nov. 03, 2013 | Jul. 28, 2013 | Apr. 28, 2013 | Jan. 27, 2013 | Oct. 28, 2012 | Jul. 29, 2012 | Apr. 29, 2012 | Jan. 29, 2012 | Nov. 03, 2013 | Oct. 28, 2012 | Oct. 30, 2011 |
REVENUE: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Staffing services | ' | $492,784 | $455,848 | $476,729 | $474,362 | $518,952 | $508,154 | $521,278 | $479,217 | $1,899,723 | $2,027,601 | $1,957,905 |
Other revenue | ' | 54,011 | 48,365 | 42,995 | 45,843 | 52,607 | 49,878 | 52,165 | 63,876 | 191,214 | 218,526 | 280,204 |
NET REVENUE | ' | 546,795 | 504,213 | 519,724 | 520,205 | 571,559 | 558,032 | 573,443 | 543,093 | 2,090,937 | 2,246,127 | 2,238,109 |
EXPENSES: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Direct cost of staffing services revenue | ' | 418,824 | 390,432 | 413,116 | 411,993 | 440,600 | 441,124 | 441,341 | 415,868 | 1,634,365 | 1,738,933 | 1,698,711 |
Cost of other revenue | ' | 42,978 | 37,595 | 39,873 | 39,753 | 39,363 | 38,296 | 42,759 | 43,435 | 160,199 | 163,853 | 166,211 |
Selling, administrative and other operating costs | ' | 76,577 | 72,128 | 74,992 | 70,337 | 81,259 | 78,093 | 77,003 | 74,492 | 294,034 | 310,847 | 302,882 |
Amortization of purchased intangible assets | ' | 341 | 337 | 346 | 345 | 348 | 344 | 345 | 345 | 1,369 | 1,382 | 1,347 |
Restructuring costs | ' | 2,815 | 223 | 948 | 740 | ' | ' | ' | ' | 4,726 | ' | ' |
Gain on sale of building | -4,418 | ' | ' | ' | ' | -4,418 | ' | ' | ' | ' | -4,418 | ' |
Restatement and associated investigations | ' | 2,462 | 1,159 | 7,387 | 13,820 | 14,906 | 9,800 | 9,169 | 9,031 | 24,828 | 42,906 | 49,193 |
TOTAL EXPENSES | ' | 543,997 | 501,874 | 536,662 | 536,988 | 572,058 | 567,657 | 570,617 | 543,171 | 2,119,521 | 2,253,503 | 2,218,344 |
OPERATING INCOME (LOSS) | ' | 2,798 | 2,339 | -16,938 | -16,783 | -499 | -9,625 | 2,826 | -78 | -28,584 | -7,376 | 19,765 |
OTHER INCOME (EXPENSE): | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest income | ' | 151 | 85 | 104 | 572 | 123 | 227 | 118 | 124 | 912 | 592 | 687 |
Interest expense | ' | -1,062 | -902 | -1,001 | -904 | -926 | -936 | -899 | -903 | -3,869 | -3,664 | -3,576 |
Foreign exchange gain (loss), net | ' | -486 | 113 | 843 | 634 | -317 | 774 | -1,043 | 455 | 1,104 | -131 | -569 |
Other income (expense), net | ' | -27 | -23 | 114 | -33 | -295 | -121 | -124 | -93 | 31 | -633 | -1,026 |
INCOME (LOSS) BEFORE INCOME TAXES | ' | 1,374 | 1,612 | -16,878 | -16,514 | -1,914 | -9,681 | 878 | -495 | -30,406 | -11,212 | 15,281 |
Income tax provision (benefit) | ' | -246 | -444 | 583 | 576 | 98 | 1,560 | 331 | 402 | 469 | 2,391 | -348 |
Net income (loss) | ' | $1,620 | $2,056 | ($17,461) | ($17,090) | ($2,012) | ($11,241) | $547 | ($897) | ($30,875) | ($13,603) | $15,629 |
Basic: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income (loss) | ' | $0.08 | $0.10 | ($0.84) | ($0.82) | ($0.10) | ($0.54) | $0.03 | ($0.04) | ($1.48) | ($0.65) | ' |
Weighted average number of shares | ' | 20,837 | 20,829 | 20,825 | 20,813 | 20,813 | 20,813 | 20,813 | 20,813 | 20,826 | 20,813 | 20,813 |
Diluted: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income (loss) | ' | $0.08 | $0.10 | ($0.84) | ($0.82) | ($0.10) | ($0.54) | $0.03 | ($0.04) | ($1.48) | ($0.65) | ' |
Weighted average number of shares | ' | 21,050 | 21,019 | 20,825 | 20,813 | 20,813 | 20,813 | 20,902 | 20,813 | 20,826 | 20,813 | 20,896 |
Quarterly_Financial_Informatio3
Quarterly Financial Information - Selected Consolidated Balance Sheet Data (Detail) (USD $) | Nov. 03, 2013 | Jul. 28, 2013 | Apr. 28, 2013 | Jan. 27, 2013 | Oct. 28, 2012 | Jul. 29, 2012 | Apr. 29, 2012 | Jan. 29, 2012 | Oct. 30, 2011 | Oct. 31, 2010 |
In Thousands, unless otherwise specified | ||||||||||
CURRENT ASSETS | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash and cash equivalents | $11,114 | $21,389 | $35,910 | $25,504 | $26,483 | $33,118 | $28,425 | $46,399 | $44,567 | $51,084 |
Restricted cash | 47,356 | 45,987 | 49,524 | 57,548 | 61,927 | 73,681 | 87,424 | 80,654 | ' | ' |
Short-term investments | 6,144 | 6,196 | 5,954 | 5,783 | 5,611 | 5,482 | 5,608 | 5,370 | ' | ' |
Trade accounts receivable, net | 293,305 | 286,416 | 294,346 | 296,967 | 334,947 | 328,189 | 340,145 | 291,831 | ' | ' |
Recoverable income taxes | 17,150 | 17,645 | 16,438 | 17,369 | 13,884 | 13,775 | 13,564 | 13,100 | ' | ' |
Prepaid insurance | 14,248 | 15,638 | 19,380 | 11,822 | 11,138 | 12,372 | 17,140 | 10,855 | ' | ' |
Other current assets | 21,097 | 20,057 | 17,565 | 20,950 | 15,406 | 18,861 | 17,951 | 19,898 | ' | ' |
TOTAL CURRENT ASSETS | 410,414 | 413,328 | 439,117 | 435,943 | 469,396 | 485,478 | 510,257 | 468,107 | ' | ' |
Prepaid insurance and other assets, excluding current portion | 43,473 | 43,141 | 39,866 | 40,763 | 38,479 | 36,082 | 31,140 | 35,249 | ' | ' |
Property, equipment and software, net | 37,324 | 36,072 | 36,315 | 37,540 | 39,052 | 40,473 | 40,632 | 41,768 | ' | ' |
Purchased intangible assets, net | 9,101 | 9,230 | 9,752 | 10,211 | 10,645 | 10,732 | 11,402 | 11,550 | ' | ' |
TOTAL ASSETS | 500,312 | 501,771 | 525,050 | 524,457 | 557,572 | 572,765 | 593,431 | 556,674 | ' | ' |
CURRENT LIABILITIES | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accrued compensation | 53,474 | 54,126 | 53,639 | 54,346 | 58,183 | 58,279 | 56,537 | 54,666 | ' | ' |
Accounts payable | 57,165 | 56,584 | 75,558 | 79,700 | 86,523 | 92,206 | 110,244 | 98,850 | ' | ' |
Accrued taxes other than income taxes | 19,520 | 27,428 | 35,006 | 31,406 | 29,361 | 30,901 | 37,339 | 29,555 | ' | ' |
Accrued insurance and other | 44,133 | 36,410 | 39,124 | 37,949 | 34,927 | 34,770 | 36,859 | 40,362 | ' | ' |
Deferred revenue, net, current portion | 13,335 | 21,307 | 25,328 | 23,699 | 24,240 | 31,649 | 30,704 | 30,357 | ' | ' |
Short-term borrowings, including current portion of long-term debt | 168,114 | 165,755 | 155,771 | 135,825 | 145,727 | 144,246 | 125,831 | 105,529 | ' | ' |
TOTAL CURRENT LIABILITIES | 355,741 | 361,610 | 384,426 | 362,925 | 378,961 | 392,051 | 397,514 | 359,319 | ' | ' |
Accrued insurance, excluding current portion | 13,003 | 8,554 | 9,678 | 11,140 | 9,010 | 6,976 | 7,914 | 8,981 | ' | ' |
Deferred revenue, net, excluding current portion | 2,839 | 1,968 | 2,541 | 3,309 | 4,268 | 6,452 | 8,300 | 10,261 | ' | ' |
Income taxes payable, excluding current portion | 8,659 | 10,424 | 10,424 | 10,424 | 10,424 | 9,339 | 9,339 | 9,339 | ' | ' |
Deferred income taxes | 1,702 | 2,764 | 2,762 | 2,760 | 2,759 | 3,531 | 3,493 | 3,494 | ' | ' |
Long-term debt, excluding current portion | 8,127 | 8,414 | 8,624 | 8,831 | 9,033 | 9,231 | 9,425 | 9,615 | ' | ' |
TOTAL LIABILITIES | 390,071 | 393,734 | 418,455 | 399,389 | 414,455 | 427,580 | 435,985 | 401,009 | ' | ' |
Commitments and contingencies | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
STOCKHOLDERS' EQUITY | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Preferred stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock | 2,354 | 2,352 | 2,351 | 2,350 | 2,350 | 2,350 | 2,350 | 2,350 | ' | ' |
Paid-in capital | 72,003 | 71,972 | 71,891 | 71,719 | 71,591 | 71,618 | 71,623 | 71,518 | ' | ' |
Retained earnings | 83,007 | 81,387 | 79,288 | 96,726 | 113,795 | 115,771 | 126,944 | 126,270 | ' | ' |
Accumulated other comprehensive loss | -5,243 | -5,794 | -5,055 | -3,847 | -2,739 | -2,674 | -1,591 | -2,593 | -2,071 | ' |
Treasury stock, at cost | -41,880 | -41,880 | -41,880 | -41,880 | -41,880 | -41,880 | -41,880 | -41,880 | ' | ' |
TOTAL STOCKHOLDERS' EQUITY | 110,241 | 108,037 | 106,595 | 125,068 | 143,117 | 145,185 | 157,446 | 155,665 | 156,663 | 140,137 |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $500,312 | $501,771 | $525,050 | $524,457 | $557,572 | $572,765 | $593,431 | $556,674 | ' | ' |
Quarterly_Financial_Informatio4
Quarterly Financial Information - Selected Consolidated Cash Flows Data (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Nov. 03, 2013 | Jul. 28, 2013 | Apr. 28, 2013 | Jan. 27, 2013 | Oct. 28, 2012 | Jul. 29, 2012 | Apr. 29, 2012 | Jan. 29, 2012 | Nov. 03, 2013 | Oct. 28, 2012 | Oct. 30, 2011 |
CASH FLOWS FROM OPERATING ACTIVITIES: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income (loss) | $1,620 | $2,056 | ($17,461) | ($17,090) | ($2,012) | ($11,241) | $547 | ($897) | ($30,875) | ($13,603) | $15,629 |
Adjustments to reconcile net income (loss) to cash provided by (used in) operating activities: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Depreciation and amortization | 3,551 | 3,550 | 3,676 | 4,154 | 4,062 | 4,022 | 4,075 | 4,354 | 14,931 | 16,513 | 19,735 |
Provisions for doubtful accounts and sales allowances | 3 | 307 | 13 | 56 | -86 | 333 | 5 | -138 | 379 | 114 | -474 |
Unrealized foreign currency exchange loss (gain) | 518 | -285 | -965 | -574 | 216 | -427 | 8 | 475 | -1,306 | 272 | 481 |
(Gain) loss on dispositions of property, equipment and software | -20 | -148 | 47 | 12 | -4,392 | -367 | -32 | -107 | -109 | -4,898 | -2,049 |
Deferred income tax provision (benefit) | 54 | 221 | -954 | -1,003 | -14 | 1,348 | 203 | 269 | -1,682 | 1,806 | -4,933 |
Share-based compensation expense | 33 | 82 | 172 | 129 | -27 | -5 | 105 | 54 | 416 | 127 | 460 |
Change in operating assets and liabilities: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Trade accounts receivable | -7,214 | 6,557 | 2,862 | 38,867 | -6,286 | 11,663 | -48,654 | 28,558 | 41,072 | -14,719 | 9,355 |
Restricted cash related to customer contracts | -755 | 3,396 | 3,731 | 4,403 | 12,082 | 13,451 | -6,752 | -5,167 | 10,775 | 13,614 | 966 |
Prepaid insurance and other assets | 2,848 | -2,652 | -2,143 | -5,850 | 2,363 | -3,864 | -84 | 28 | -7,797 | -1,557 | -1,254 |
Accounts payable | 561 | -19,059 | -4,360 | -6,107 | -5,618 | -17,865 | 11,265 | -851 | -28,965 | -13,069 | -3,068 |
Accrued expenses | -954 | -9,316 | 919 | 2,593 | -1,307 | -5,809 | 4,969 | 3,854 | -6,758 | 1,707 | -5,823 |
Deferred revenue, net | -9,138 | -4,625 | 791 | -1,897 | -9,686 | -779 | -1,700 | -14,262 | -14,869 | -26,427 | -56,883 |
Other liabilities | 1,103 | ' | ' | -140 | 10 | 44 | -54 | -79 | 963 | -79 | -365 |
Income taxes | -1,226 | -1,768 | 1,497 | -5,767 | 1,303 | -271 | -588 | -682 | -7,264 | -238 | -129 |
Net cash provided by (used in) operating activities | -9,016 | -21,684 | -12,175 | 11,786 | -9,392 | -9,767 | -36,687 | 15,409 | -31,089 | -40,437 | -28,352 |
CASH FLOWS FROM INVESTING ACTIVITIES: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Sales of investments | 695 | 549 | 457 | 550 | 445 | 399 | 358 | 718 | 2,251 | 1,920 | 2,856 |
Purchases of investments | -409 | -542 | -438 | -505 | -442 | -389 | -360 | -505 | -1,894 | -1,696 | -2,943 |
Acquisitions, net | ' | ' | ' | ' | ' | ' | ' | -1,822 | ' | -1,822 | ' |
Proceeds from sales of property, equipment and software | 67 | 43 | 15 | 187 | 5,419 | 1,379 | 375 | 485 | 312 | 7,658 | 3,795 |
Purchases of property, equipment, and software | -4,706 | -2,765 | -1,760 | -2,391 | -3,165 | -4,627 | -2,960 | -2,950 | -11,622 | -13,702 | -17,917 |
Net cash provided by (used in) investing activities | -4,353 | -2,715 | -1,726 | -2,159 | 2,257 | -3,238 | -2,587 | -4,074 | -10,953 | -7,642 | -14,209 |
CASH FLOWS FROM FINANCING ACTIVITIES: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Increase in cash restricted as collateral for borrowings | -614 | 141 | 4,293 | -24 | -328 | 292 | -18 | -1,337 | 3,796 | -1,391 | -3,761 |
Net change in short-term borrowings | 2,357 | 9,975 | 19,937 | -9,935 | 1,435 | 18,415 | 20,312 | -7,708 | 22,334 | 32,454 | 40,063 |
Repayment of long-term debt | -265 | -187 | -174 | -209 | -183 | -178 | -175 | -172 | -835 | -708 | -652 |
Net cash provided by (used in) financing activities | 1,478 | 9,929 | 24,056 | -10,168 | 924 | 18,529 | 20,119 | -9,217 | 25,295 | 30,355 | 35,650 |
Effect of exchange rate changes on cash and cash equivalents | 1,616 | -51 | 251 | -438 | -424 | -831 | 1,181 | -287 | 1,378 | -360 | 394 |
Net increase (decrease) in cash and cash equivalents | -10,275 | -14,521 | 10,406 | -979 | -6,635 | 4,693 | -17,974 | 1,832 | -15,369 | -18,084 | -6,517 |
Cash and cash equivalents, beginning of year | 21,389 | 35,910 | 25,504 | 26,483 | 33,118 | 28,425 | 46,399 | 44,567 | 26,483 | 44,567 | 51,084 |
Cash and cash equivalents, end of year | 11,114 | 21,389 | 35,910 | 25,504 | 26,483 | 33,118 | 28,425 | 46,399 | 11,114 | 26,483 | 44,567 |
Cash paid during the year | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest expense | 811 | 703 | 703 | 708 | 732 | 740 | 697 | 697 | 2,925 | 2,866 | 2,585 |
Income taxes | $999 | $905 | $665 | $8,253 | $1,246 | $786 | $833 | $875 | $10,822 | $3,740 | $5,857 |