Volt Information Sciences (VOLT) 10-Q 13 Jun 14 2014 Q2 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	6 Months Ended
	4-May-14	Jun. 10, 2014
Document And Entity Information [Abstract]	'	'
Document Type	'10-Q	'
Amendment Flag	'false	'
Document Period End Date	4-May-14	'
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q2	'
Trading Symbol	'VISI	'
Entity Registrant Name	'VOLT INFORMATION SCIENCES, INC.	'
Entity Central Index Key	'0000103872	'
Current Fiscal Year End Date	'--11-02	'
Entity Filer Category	'Accelerated Filer	'
Entity Common Stock, Shares Outstanding	'	20,862,795

Condensed_Consolidated_Stateme

Condensed Consolidated Statements of Operations (USD $)	3 Months Ended		6 Months Ended
In Thousands, except Per Share data, unless otherwise specified	4-May-14	Apr. 28, 2013	4-May-14	Apr. 28, 2013
REVENUE:	'	'	'	'
Staffing service revenue	$406,733	$476,729	$799,002	$951,091
Other revenue	44,752	42,995	89,631	88,838
NET REVENUE	451,485	519,724	888,633	1,039,929
EXPENSES:	'	'	'	'
Direct cost of staffing services revenue	345,899	413,116	687,359	825,109
Cost of other revenue	38,656	39,873	75,934	79,626
Selling, administrative and other operating costs	64,534	74,992	131,642	145,329
Amortization of purchased intangible assets	240	346	559	691
Restructuring costs	918	948	2,279	1,688
Restatement, investigations and remediation	593	7,387	5,261	21,207
TOTAL EXPENSES	450,840	536,662	903,034	1,073,650
OPERATING INCOME (LOSS)	645	-16,938	-14,401	-33,721
OTHER INCOME (EXPENSE), NET:	'	'	'	'
Interest income (expense), net	-802	-897	-1,662	-1,229
Foreign exchange gain (loss), net	-1,175	843	-1,221	1,477
Other income (expense), net	215	114	142	81
TOTAL OTHER INCOME (EXPENSE), NET	-1,762	60	-2,741	329
LOSS BEFORE INCOME TAXES	-1,117	-16,878	-17,142	-33,392
Income tax provision	2,378	583	3,427	1,159
NET LOSS	($3,495)	($17,461)	($20,569)	($34,551)
Basic and Diluted:	'	'	'	'
Net loss (in dollars per share)	($0.17)	($0.84)	($0.99)	($1.66)
Weighted average number of shares, basic and diluted (shares)	20,861	20,825	20,855	20,819

Condensed_Consolidated_Stateme1

Condensed Consolidated Statements of Comprehensive Loss (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	4-May-14	Apr. 28, 2013	4-May-14	Apr. 28, 2013
Statement of Comprehensive Income [Abstract]	'	'	'	'
NET LOSS	($3,495)	($17,461)	($20,569)	($34,551)
Other comprehensive income (loss):	'	'	'	'
Foreign currency translation adjustments, net of taxes of $0	1,445	-1,196	1,864	-2,315
Unrealized gain (loss) on marketable securities, net of taxes of $0	4	-12	20	-1
Total other comprehensive income (loss)	1,449	-1,208	1,884	-2,316
COMPREHENSIVE LOSS	($2,046)	($18,669)	($18,685)	($36,867)

Condensed_Consolidated_Stateme2

Condensed Consolidated Statements of Comprehensive Loss (Parenthetical) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	4-May-14	Apr. 28, 2013	4-May-14	Apr. 28, 2013
Statement of Comprehensive Income [Abstract]	'	'	'	'
Foreign currency translation adjustments, taxes	$0	$0	$0	$0
Unrealized gains (loss) on marketable securities, taxes	$0	$0	$0	$0

Condensed_Consolidated_Balance

Condensed Consolidated Balance Sheets (USD $)	4-May-14	Nov. 03, 2013
In Thousands, unless otherwise specified
CURRENT ASSETS:	'	'
Cash and cash equivalents	$16,552	$11,114
Restricted cash and short-term investments	47,735	53,500
Trade accounts receivable, net of allowances of $1,426 and $1,811, respectively	252,493	293,305
Recoverable income taxes	16,302	17,150
Prepaid insurance and other current assets	34,771	35,345
TOTAL CURRENT ASSETS	367,853	410,414
Prepaid insurance and other assets, excluding current portion	45,955	52,574
Property, equipment and software, net	30,711	37,324
TOTAL ASSETS	444,519	500,312
CURRENT LIABILITIES:	'	'
Accrued compensation	47,114	53,474
Accounts payable	53,063	57,165
Accrued taxes other than income taxes	19,873	19,520
Accrued insurance and other	37,731	44,133
Deferred revenue, net, current portion	10,292	13,335
Short-term borrowings, including current portion of long-term debt	148,416	168,114
TOTAL CURRENT LIABILITIES	316,489	355,741
Accrued insurance and other, excluding current portion	16,507	14,705
Deferred revenue, net, excluding current portion	2,698	2,839
Income taxes payable, excluding current portion	8,998	8,659
Long-term debt, excluding current portion	7,681	8,127
TOTAL LIABILITIES	352,373	390,071
Commitments and contingencies	'	'
STOCKHOLDERS' EQUITY:	'	'
Preferred stock, par value $1.00; Authorized - 500,000 shares; Issued - none	0	0
Common stock, par value $0.10; Authorized - 120,000,000 shares; Issued - 23,550,102 and 23,536,769, respectively; Outstanding - 20,862,795 and 20,849,462, respectively	2,355	2,354
Paid-in capital	72,329	72,003
Retained earnings	62,701	83,007
Accumulated other comprehensive loss	-3,359	-5,243
Treasury stock, at cost; 2,687,307 shares	-41,880	-41,880
TOTAL STOCKHOLDERS' EQUITY	92,146	110,241
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$444,519	$500,312

Condensed_Consolidated_Balance1

Condensed Consolidated Balance Sheets (Parenthetical) (USD $)	4-May-14	Nov. 03, 2013
In Thousands, except Share data, unless otherwise specified
Statement of Financial Position [Abstract]	'	'
Trade accounts receivable, allowances	$1,426	$1,811
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	23,550,102	23,536,769
Common stock, shares outstanding	20,862,795	20,849,462
Treasury stock, shares	2,687,307	2,687,307

Condensed_Consolidated_Stateme3

Condensed Consolidated Statements of Cash Flows (USD $)	6 Months Ended
In Thousands, unless otherwise specified	4-May-14	Apr. 28, 2013
CASH FLOWS FROM OPERATING ACTIVITIES:	'	'
Net loss	($20,569)	($34,551)
Adjustment to reconcile net loss to cash provided by (used in) operating activities:	'	'
Depreciation and amortization	6,958	7,830
Provision (release) of doubtful accounts and sales allowances	-274	69
Unrealized foreign currency exchange loss (gain)	1,794	-1,539
Loss on dispositions of property, equipment and software	154	59
Deferred income tax provision (benefit)	1,415	-1,957
Share-based compensation expense	327	301
Change in operating assets and liabilities:	'	'
Trade accounts receivable	41,018	41,729
Restricted cash related to customer contracts	2,370	8,134
Prepaid insurance and other assets	7,219	-7,993
Accounts payable	-3,945	-10,467
Accrued expenses	-12,866	3,512
Deferred revenue, net	-3,433	-1,106
Other liabilities	-207	-140
Income taxes	1,220	-4,270
Net cash provided by (used in) operating activities	21,181	-389
CASH FLOWS FROM INVESTING ACTIVITIES:	'	'
Sales of investments	985	1,007
Purchases of investments	-308	-943
Proceeds from sale of software related assets	3,000	0
Proceeds from sale of property, equipment, and software	4	202
Purchases of property, equipment, and software	-2,595	-4,151
Net cash provided by (used in) investing activities	1,086	-3,885
CASH FLOWS FROM FINANCING ACTIVITES:	'	'
Increase in cash restricted as collateral for borrowings	2,960	4,269
Net change in short-term borrowings	-19,582	10,002
Repayment of long-term debt	-411	-383
Net cash provided by (used in) financing activities	-17,033	13,888
Effect of exchange rate changes on cash and cash equivalents	204	-187
Net increase in cash and cash equivalents	5,438	9,427
Cash and cash equivalents, beginning of period	11,114	26,483
Cash and cash equivalents, end of period	16,552	35,910
Cash paid during the period:	'	'
Interest	1,885	1,411
Income taxes	$2,047	$8,918

Basis_of_Presentation

Basis of Presentation	6 Months Ended
	4-May-14
Organization, Consolidation and Presentation of Financial Statements [Abstract]	'
Basis of Presentation	'
	Basis of Presentation
	Basis of Presentation
	The accompanying interim condensed consolidated financial statements of Volt Information Sciences, Inc. ("Volt" or the "Company") have been prepared in conformity with generally accepted accounting principles, consistent in all material respects with those applied in the Annual Report on Form 10-K for the year ended November 3, 2013. The Company makes estimates and assumptions that affect the amounts reported. Actual results could differ from those estimates and changes in estimates are reflected in the period in which they become known. Accounting for certain expenses, including income taxes, are based on full year assumptions, and the financial statements reflect all normal adjustments that, in the opinion of management, are necessary for fair presentation of the interim periods presented. The interim information is unaudited and is prepared pursuant to the rules and regulations of the United States Securities and Exchange Commission (the "SEC"), which provides for omission of certain information and footnote disclosures. This interim financial information should be read in connection with the consolidated financial statements in the Company's Annual Report on Form 10-K for the year ended November 3, 2013.
	The Company’s fiscal year ends on the Sunday nearest October 31st. The 2014 fiscal year consists of 52 weeks while the 2013 fiscal year consisted of 53 weeks. The three and six month periods ended in fiscal 2014 and 2013 each consisted of 13 weeks and 26 weeks, respectively.
	Restatement, investigations and remediation costs are discussed further in our Form 10-K for the fiscal year ended November 3, 2013, and are comprised of financial and legal consulting, audit and related costs of the restatement, related investigations, and completion of delayed filings required under SEC regulations.

Recently_Issued_Accounting_Pro

Recently Issued Accounting Pronouncements	6 Months Ended
	4-May-14
Accounting Changes and Error Corrections [Abstract]	'
Recently Issued Accounting Pronouncements	'
	Recently Issued Accounting Pronouncements
	From time to time, new accounting pronouncements are issued by the Financial Accounting Standards Board ("FASB") or other standard setting bodies. Unless otherwise discussed, the Company believes that the 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.
	New Accounting Standards Not Yet Adopted by the Company
	In April 2014, the FASB issued Accounting Standards Update ("ASU") No. 2014-08, Presentation of Financial Statements and Property, Plant and Equipment: Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity, which requires only disposals representing a strategic shift in operations that have a major effect on operations and financial results to be presented in discontinued operations.   This guidance also requires expanded financial disclosures about discontinued operations and significant disposals that do not qualify as discontinued operations.  This standard is effective for fiscal years and interim reporting periods beginning after December 15, 2014.  The Company is currently assessing the impact of the adoption of this guidance on the consolidated financial statements, but it is not expected to have a significant impact on the Company’s consolidated financial position or results of operations upon adoption in the first quarter of fiscal 2016.
	In May 2014, the FASB and the International Accounting Standards Board ("IASB") issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606).  This guidance substantially converges final standards on revenue recognition between the FASB and IASB providing a framework on addressing revenue recognition issues. Upon the effective date, the ASU replaces almost all existing revenue recognition guidance, including industry specific guidance, in United States Generally Accepted Accounting Principles ("GAAP").  This ASU is effective for fiscal years and interim reporting periods beginning after December 15, 2016 and will become effective for the Company in the first quarter of fiscal year 2018.  The Company is currently assessing the impact that the adoption of this standard will have on its consolidated financial statements or related disclosures.

Restricted_Cash_and_ShortTerm_

Restricted Cash and Short-Term Investments	6 Months Ended
	4-May-14
Cash and Cash Equivalents [Abstract]	'
Restricted Cash and Short-Term Investments	'
	Restricted Cash and Short-Term Investments
	Restricted cash and short-term investments include 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 May 4, 2014 and November 3, 2013, restricted cash and short-term investments included $13.2 million and $15.6 million, respectively, restricted for payment to associate vendors and $28.8 million and $31.8 million, respectively, restricted as collateral under the Short-Term Credit Facility.
	At May 4, 2014 and November 3, 2013, restricted cash and short-term investments included $5.7 million and $6.1 million, respectively, of short-term investments. These short-term investments primarily consisted of the fair value of deferred compensation investments corresponding to employees’ selections, primarily in mutual funds, based on quoted prices in active markets for identical assets.

Hedging

Hedging	6 Months Ended
	4-May-14
Derivative Instruments and Hedging Activities Disclosure [Abstract]	'
Hedging	'
	Hedging
	The Company enters into non-derivative financial instruments to hedge its net investment in certain foreign subsidiaries. During the first six months of fiscal 2014 and 2013, the Company primarily used short-term foreign currency borrowings to hedge its net investments in certain foreign operations.
	At May 4, 2014 and November 3, 2013, the Company had outstanding $22.5 million and $22.3 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 Accounting Standards Codification ("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 Condensed Consolidated Statements of Operations. During the second quarter of fiscal 2014 and 2013, net gains (losses) on these borrowings and instruments of $(0.5) million and $0.5 million, respectively, were included in Foreign Exchange Gain (Loss), net in the Condensed Consolidated Statements of Operations. For the six months ended May 4, 2014 and April 28, 2013, net gains (losses) on these borrowings and instruments of $(0.4) million and $0.4 million, respectively, were included in Foreign Exchange Gain (Loss), net in the Condensed Consolidated Statements of Operations.

Income_Taxes

Income Taxes	6 Months Ended
	4-May-14
Income Tax Disclosure [Abstract]	'
Income Taxes	'
	Income Taxes
	Under ASC 270, “Interim Reporting,” and ASC 740-270, “Income Taxes – Intra Period Tax Allocation,” the Company is required to adjust its effective tax rate for each quarter to be consistent with the estimated annual effective tax rate. Jurisdictions with a projected loss for the full year where no tax benefit can be recognized are excluded from the calculation of the estimated annual effective tax rate.
	The provision for income taxes consists of provisions for federal, state and foreign income taxes. Accordingly, the effective income tax rate is a composite rate reflecting the geographic mix of earnings in various tax jurisdictions and applicable rates. Our interim provision for income taxes is measured using an estimated annual effective tax rate, adjusted for discrete items that occur within the periods presented. Our future effective tax rates could be adversely affected by earnings being lower than anticipated in countries with lower statutory rates, greater losses than anticipated in countries with lower statutory tax rates, increases in recorded valuation allowances of tax assets, or changes in tax laws.
	The provision for income taxes in the second quarter of fiscal 2014 was $2.4 million compared to $0.6 million in 2013 and $3.4 million compared to $1.2 million for the six months ended May 4, 2014 and April 28, 2013, respectively. The Company’s cumulative results for substantially all United States domestic and certain non-United States jurisdictions for the most recent three-year period is a loss. Accordingly, a valuation allowance has been established for substantially all loss carryforwards and other net deferred tax assets for these jurisdictions, resulting in an effective tax rate that is significantly different than the statutory rate.

Debt

Debt	6 Months Ended
	4-May-14
Debt Disclosure [Abstract]	'
Debt	'
	Debt
	The Company had borrowings at May 4, 2014 of $147.5 million under various short-term credit facilities that provided for up to $245.0 million in borrowings and letters of credit, under which it was required to maintain cash collateral of $28.8 million. Available borrowing was $18.2 million under the $200.0 million Short-Term Financing Program and $22.5 million under the $45.0 million Short-Term Credit Facility as of May 4, 2014.
	At May 4, 2014 and November 3, 2013, the Company had outstanding borrowing under the Short-Term Financing Program of $125.0 million and $142.0 million, respectively, and bore a weighted average annual interest rate of 1.7% and 1.6% during the second quarter of fiscal 2014 and 2013, respectively, and 1.6% during the first six months of 2014 and 2013, which is inclusive of certain facility and program fees.
	At May 4, 2014 and November 3, 2013, the Company had drawn under the Short-Term Credit Facility $22.5 million and $22.3 million, respectively, in various currencies used to hedge the Company’s net investment in certain foreign subsidiaries. During the second quarter of fiscal 2014 and 2013, borrowings bore a weighted average annual interest rate of 1.9% and 1.8%, respectively, and 1.9% and 2.0% during the first six months of 2014 and 2013, respectively, which is inclusive of the facility fee.

Earnings_Loss_Per_Share

Earnings (Loss) Per Share	6 Months Ended
	4-May-14
Earnings Per Share [Abstract]	'
Earnings (Loss) Per Share	'
	Earnings (Loss) Per Share
	Basic and diluted net loss per share is calculated as follows (in thousands, except per share amounts):
		Three Months Ended						Six Months Ended
		May 4, 2014			April 28, 2013			May 4, 2014			April 28, 2013
	Numerator
	Net loss	$	(3,495	)	$	(17,461	)	$	(20,569	)	$	(34,551	)
	Denominator
	Basic weighted average number of common shares	20,861			20,825			20,855			20,819
	Dilutive weighted average number of common shares	20,861			20,825			20,855			20,819
	Net loss per share - basic	$	(0.17	)	$	(0.84	)	$	(0.99	)	$	(1.66	)
	Net loss per share - diluted	$	(0.17	)	$	(0.84	)	$	(0.99	)	$	(1.66	)
	Options to purchase 465,450 and 532,350 shares of the Company’s common stock were outstanding at May 4, 2014 and April 28, 2013, respectively. Additionally, there were 60,001 and 56,667 restricted shares outstanding at May 4, 2014 and April 28, 2013, respectively. The options and restricted shares were not included in the computation of diluted loss per share in the three months and six months of fiscal 2014 and 2013 because the effect of their inclusion would have been anti-dilutive as a result of the Company’s net loss position in those fiscal periods.

Commitments_and_Contingencies

Commitments and Contingencies	6 Months Ended
	4-May-14
Commitments and Contingencies Disclosure [Abstract]	'
Commitments and Contingencies	'
	Commitments and Contingencies
	(a)	Legal Proceedings
	The Company is involved in various claims and legal actions arising in the ordinary course of business. The Company’s loss contingencies consist primarily of claims and legal actions 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.
	(b)	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.

Segment_Data

Segment Data	6 Months Ended
	4-May-14
Segment Reporting [Abstract]	'
Segment Data	'
	Segment Data
	The Company’s operating segments are determined in accordance with the Company’s internal management structure, which is based on operating activities.
	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 restatement, investigations and remediation costs to the segments. These allocations are included in the calculation of each segment’s operating income (loss).
	Financial data concerning the Company’s revenue and segment operating income (loss) by reportable operating segment in the second quarter of fiscal 2014 and 2013 and for the first six months of fiscal 2014 and 2013 are summarized in the following table:
		Three Months Ended May 4, 2014
	(in thousands)	Total			Staffing Services		Computer Systems			Other
	Revenue
	Staffing service revenue	$	406,733		$	406,733	$	—		$	—
	Other revenue	44,752			—		15,405			29,347
	Net revenue	451,485			406,733		15,405			29,347
	Expenses
	Direct cost of staffing services revenue	345,899			345,899		—			—
	Cost of other revenue	38,656			—		14,590			24,066
	Selling, administrative and other operating costs	62,575			53,175		4,911			4,489
	Amortization of purchased intangible assets	240			25		214			1
	Restructuring costs	598			577		(81		)	102
	Segment operating income (loss)	3,517			7,057		(4,229		)	689
	Corporate general and administrative	2,279
	Restatement, investigations and remediation	593
	Operating income	$	645
		Three Months Ended April 28, 2013
	(in thousands)	Total			Staffing Services		Computer Systems			Other
	Revenue
	Staffing service revenue	$	476,729		$	476,729	$	—		$	—
	Other revenue	42,995			—		18,752			24,243
	Net revenue	519,724			476,729		18,752			24,243
	Expenses
	Direct cost of staffing services revenue	413,116			413,116		—			—
	Cost of other revenue	39,873			—		16,742			23,131
	Selling, administrative and other operating costs	72,612			62,058		6,024			4,530
	Amortization of purchased intangible assets	346			12		215			119
	Restructuring costs	948			133		815			—
	Segment operating income (loss)	(7,171		)	1,410		(5,044		)	(3,537		)
	Corporate general and administrative	2,380
	Restatement, investigations and remediation	7,387
	Operating loss	$	(16,938	)
		Six Months Ended May 4, 2014
	(in thousands)	Total			Staffing Services		Computer Systems			Other
	Revenue
	Staffing service revenue	$	799,002		$	799,002	$	—		$	—
	Other revenue	89,631			—		30,925			58,706
	Net revenue	888,633			799,002		30,925			58,706
	Expenses
	Direct cost of staffing services revenue	687,359			687,359		—			—
	Cost of other revenue	75,934			—		27,735			48,199
	Selling, administrative and other operating costs	126,725			107,441		10,188			9,096
	Amortization of purchased intangible assets	559			50		429			80
	Restructuring costs	1,959			1,234		623			102
	Segment operating income (loss)	(3,903		)	2,918		(8,050		)	1,229
	Corporate general and administrative	5,237
	Restatement, investigations and remediation	5,261
	Operating loss	$	(14,401	)
		Six Months Ended April 28, 2013
	(in thousands)	Total			Staffing Services		Computer Systems			Other
	Revenue
	Staffing service revenue	$	951,091		$	951,091	$	—		$	—
	Other revenue	88,838			—		38,978			49,860
	Net revenue	1,039,929			951,091		38,978			49,860
	Expenses
	Direct cost of staffing services revenue	825,109			825,109		—			—
	Cost of other revenue	79,626			—		34,557			45,069
	Selling, administrative and other operating costs	140,659			120,001		11,553			9,105
	Amortization of purchased intangible assets	691			24		429			238
Restructuring costs	1,688			418		1,270			—
Segment operating income (loss)	(7,844		)	5,539		(8,831		)	(4,552		)
Corporate general and administrative	4,670
Restatement, investigations and remediation	21,207
Operating loss	$	(33,721	)

Basis_of_Presentation_Policies

Basis of Presentation (Policies)	6 Months Ended
	4-May-14
Organization, Consolidation and Presentation of Financial Statements [Abstract]	'
Basis of Presentation	'
	Basis of Presentation
	The accompanying interim condensed consolidated financial statements of Volt Information Sciences, Inc. ("Volt" or the "Company") have been prepared in conformity with generally accepted accounting principles, consistent in all material respects with those applied in the Annual Report on Form 10-K for the year ended November 3, 2013. The Company makes estimates and assumptions that affect the amounts reported. Actual results could differ from those estimates and changes in estimates are reflected in the period in which they become known. Accounting for certain expenses, including income taxes, are based on full year assumptions, and the financial statements reflect all normal adjustments that, in the opinion of management, are necessary for fair presentation of the interim periods presented. The interim information is unaudited and is prepared pursuant to the rules and regulations of the United States Securities and Exchange Commission (the "SEC"), which provides for omission of certain information and footnote disclosures. This interim financial information should be read in connection with the consolidated financial statements in the Company's Annual Report on Form 10-K for the year ended November 3, 2013.
	The Company’s fiscal year ends on the Sunday nearest October 31st. The 2014 fiscal year consists of 52 weeks while the 2013 fiscal year consisted of 53 weeks. The three and six month periods ended in fiscal 2014 and 2013 each consisted of 13 weeks and 26 weeks, respectively.
	Restatement, investigations and remediation costs are discussed further in our Form 10-K for the fiscal year ended November 3, 2013, and are comprised of financial and legal consulting, audit and related costs of the restatement, related investigations, and completion of delayed filings required under SEC regulations.

Recently_Issued_Accounting_Pro1

Recently Issued Accounting Pronouncements (Policies)	6 Months Ended
	4-May-14
Accounting Changes and Error Corrections [Abstract]	'
New Accounting Standards Not Yet Adopted by the Company	'
	New Accounting Standards Not Yet Adopted by the Company
	In April 2014, the FASB issued Accounting Standards Update ("ASU") No. 2014-08, Presentation of Financial Statements and Property, Plant and Equipment: Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity, which requires only disposals representing a strategic shift in operations that have a major effect on operations and financial results to be presented in discontinued operations.   This guidance also requires expanded financial disclosures about discontinued operations and significant disposals that do not qualify as discontinued operations.  This standard is effective for fiscal years and interim reporting periods beginning after December 15, 2014.  The Company is currently assessing the impact of the adoption of this guidance on the consolidated financial statements, but it is not expected to have a significant impact on the Company’s consolidated financial position or results of operations upon adoption in the first quarter of fiscal 2016.
	In May 2014, the FASB and the International Accounting Standards Board ("IASB") issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606).  This guidance substantially converges final standards on revenue recognition between the FASB and IASB providing a framework on addressing revenue recognition issues. Upon the effective date, the ASU replaces almost all existing revenue recognition guidance, including industry specific guidance, in United States Generally Accepted Accounting Principles ("GAAP").  This ASU is effective for fiscal years and interim reporting periods beginning after December 15, 2016 and will become effective for the Company in the first quarter of fiscal year 2018.  The Company is currently assessing the impact that the adoption of this standard will have on its consolidated financial statements or related disclosures.

Earnings_Loss_Per_Share_Tables

Earnings (Loss) Per Share (Tables)	6 Months Ended
	4-May-14
Earnings Per Share [Abstract]	'
Summary of Basic and Diluted Net Loss Per Share	'
	Basic and diluted net loss per share is calculated as follows (in thousands, except per share amounts):
		Three Months Ended						Six Months Ended
		May 4, 2014			April 28, 2013			May 4, 2014			April 28, 2013
	Numerator
	Net loss	$	(3,495	)	$	(17,461	)	$	(20,569	)	$	(34,551	)
	Denominator
	Basic weighted average number of common shares	20,861			20,825			20,855			20,819
	Dilutive weighted average number of common shares	20,861			20,825			20,855			20,819
	Net loss per share - basic	$	(0.17	)	$	(0.84	)	$	(0.99	)	$	(1.66	)
	Net loss per share - diluted	$	(0.17	)	$	(0.84	)	$	(0.99	)	$	(1.66	)

Segment_Data_Tables

Segment Data (Tables)	6 Months Ended
	4-May-14
Segment Reporting [Abstract]	'
Summary of Sales and Segment Operating Income (Loss) by Reportable Operating Segment	'
	Financial data concerning the Company’s revenue and segment operating income (loss) by reportable operating segment in the second quarter of fiscal 2014 and 2013 and for the first six months of fiscal 2014 and 2013 are summarized in the following table:
		Three Months Ended May 4, 2014
	(in thousands)	Total			Staffing Services		Computer Systems			Other
	Revenue
	Staffing service revenue	$	406,733		$	406,733	$	—		$	—
	Other revenue	44,752			—		15,405			29,347
	Net revenue	451,485			406,733		15,405			29,347
	Expenses
	Direct cost of staffing services revenue	345,899			345,899		—			—
	Cost of other revenue	38,656			—		14,590			24,066
	Selling, administrative and other operating costs	62,575			53,175		4,911			4,489
	Amortization of purchased intangible assets	240			25		214			1
	Restructuring costs	598			577		(81		)	102
	Segment operating income (loss)	3,517			7,057		(4,229		)	689
	Corporate general and administrative	2,279
	Restatement, investigations and remediation	593
	Operating income	$	645
		Three Months Ended April 28, 2013
	(in thousands)	Total			Staffing Services		Computer Systems			Other
	Revenue
	Staffing service revenue	$	476,729		$	476,729	$	—		$	—
	Other revenue	42,995			—		18,752			24,243
	Net revenue	519,724			476,729		18,752			24,243
	Expenses
	Direct cost of staffing services revenue	413,116			413,116		—			—
	Cost of other revenue	39,873			—		16,742			23,131
	Selling, administrative and other operating costs	72,612			62,058		6,024			4,530
	Amortization of purchased intangible assets	346			12		215			119
	Restructuring costs	948			133		815			—
	Segment operating income (loss)	(7,171		)	1,410		(5,044		)	(3,537		)
	Corporate general and administrative	2,380
	Restatement, investigations and remediation	7,387
	Operating loss	$	(16,938	)
		Six Months Ended May 4, 2014
	(in thousands)	Total			Staffing Services		Computer Systems			Other
	Revenue
	Staffing service revenue	$	799,002		$	799,002	$	—		$	—
	Other revenue	89,631			—		30,925			58,706
	Net revenue	888,633			799,002		30,925			58,706
	Expenses
	Direct cost of staffing services revenue	687,359			687,359		—			—
	Cost of other revenue	75,934			—		27,735			48,199
	Selling, administrative and other operating costs	126,725			107,441		10,188			9,096
	Amortization of purchased intangible assets	559			50		429			80
	Restructuring costs	1,959			1,234		623			102
	Segment operating income (loss)	(3,903		)	2,918		(8,050		)	1,229
	Corporate general and administrative	5,237
	Restatement, investigations and remediation	5,261
	Operating loss	$	(14,401	)
		Six Months Ended April 28, 2013
	(in thousands)	Total			Staffing Services		Computer Systems			Other
	Revenue
	Staffing service revenue	$	951,091		$	951,091	$	—		$	—
	Other revenue	88,838			—		38,978			49,860
	Net revenue	1,039,929			951,091		38,978			49,860
	Expenses
	Direct cost of staffing services revenue	825,109			825,109		—			—
	Cost of other revenue	79,626			—		34,557			45,069
	Selling, administrative and other operating costs	140,659			120,001		11,553			9,105
	Amortization of purchased intangible assets	691			24		429			238
	Restructuring costs	1,688			418		1,270			—
	Segment operating income (loss)	(7,844		)	5,539		(8,831		)	(4,552		)
	Corporate general and administrative	4,670
Restatement, investigations and remediation	21,207
Operating loss	$	(33,721	)

Basis_of_Presentation_Details

Basis of Presentation (Details)	3 Months Ended		6 Months Ended		12 Months Ended
	4-May-14	Apr. 28, 2013	4-May-14	Apr. 28, 2013	Nov. 03, 2013	Nov. 02, 2014
						Forecast
New Accounting Pronouncements or Change in Accounting Principle [Line Items]	'	'	'	'	'	'
Length of financial reporting period	'91 days	'91 days	'182 days	'182 days	'371 days	'364 days

Restricted_Cash_Additional_Inf

Restricted Cash - Additional Information (Detail) (USD $)	4-May-14	Nov. 03, 2013
In Millions, unless otherwise specified
Short-Term Credit Facility [Member]	'	'
Restricted Cash and Cash Equivalents Items [Line Items]	'	'
Restricted as collateral	$28.80	'
Restricted cash and short-term investments [Member]	'	'
Restricted Cash and Cash Equivalents Items [Line Items]	'	'
Restricted cash	13.2	15.6
Short-term investments	5.7	6.1
Restricted cash and short-term investments [Member] | Short-Term Credit Facility [Member]	'	'
Restricted Cash and Cash Equivalents Items [Line Items]	'	'
Restricted as collateral	$28.80	$31.80

Hedging_Additional_Information

Hedging - Additional Information (Detail) (Foreign Exchange Gain (Loss) [Member], Not Designated as Hedging Instrument [Member], USD $)	4-May-14	Nov. 03, 2013	4-May-14	Apr. 28, 2013	4-May-14	Apr. 28, 2013
In Millions, unless otherwise specified			Foreign Exchange Contract [Member]	Foreign Exchange Contract [Member]	Foreign Exchange Contract [Member]	Foreign Exchange Contract [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]	'	'	'	'	'	'
Outstanding short-term borrowings	$22.50	$22.30	'	'	'	'
Net gains/ (losses) on borrowings and instruments	'	'	($0.50)	$0.50	($0.40)	$0.40

Income_Taxes_Details

Income Taxes (Details) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	4-May-14	Apr. 28, 2013	4-May-14	Apr. 28, 2013
Income Tax Disclosure [Abstract]	'	'	'	'
Income tax provision	$2,378	$583	$3,427	$1,159

Debt_Additional_Information_De

Debt - Additional Information (Detail) (USD $)	3 Months Ended		6 Months Ended
	4-May-14	Apr. 28, 2013	4-May-14	Apr. 28, 2013	Nov. 03, 2013
Extinguishment of Debt [Line Items]	'	'	'	'	'
Amount outstanding	$147,500,000	'	$147,500,000	'	'
Borrowing capacity of facility	245,000,000	'	245,000,000	'	'
Short-Term Financing Program [Member]	'	'	'	'	'
Extinguishment of Debt [Line Items]	'	'	'	'	'
Amount outstanding	125,000,000	'	125,000,000	'	142,000,000
Borrowing capacity of facility	200,000,000	'	200,000,000	'	'
Available borrowing capacity of facility	18,200,000	'	18,200,000	'	'
Weighted average interest rate during period	1.70%	1.60%	1.60%	1.60%	'
Short-Term Credit Facility [Member]	'	'	'	'	'
Extinguishment of Debt [Line Items]	'	'	'	'	'
Borrowing capacity of facility	45,000,000	'	45,000,000	'	'
Cash collateral of outstanding short-term borrowings	28,800,000	'	28,800,000	'	'
Available borrowing capacity of facility	22,500,000	'	22,500,000	'	'
Weighted average interest rate during period	1.90%	1.80%	1.90%	2.00%	'
Line of Credit [Member]	'	'	'	'	'
Extinguishment of Debt [Line Items]	'	'	'	'	'
Amount outstanding	$22,500,000	'	$22,500,000	'	$22,300,000

Earnings_Loss_Per_Share_Summar

Earnings (Loss) Per Share - Summary of Basic and Diluted Net Income (Loss) Per Share (Detail) (USD $)	3 Months Ended		6 Months Ended
In Thousands, except Per Share data, unless otherwise specified	4-May-14	Apr. 28, 2013	4-May-14	Apr. 28, 2013
Numerator	'	'	'	'
Net loss	($3,495)	($17,461)	($20,569)	($34,551)
Denominator	'	'	'	'
Basic weighted average number of common shares (shares)	20,861	20,825	20,855	20,819
Dilutive weighted average number of common shares (shares)	20,861	20,825	20,855	20,819
Net loss per share - basic (in dollars per share)	($0.17)	($0.84)	($0.99)	($1.66)
Net loss per share - diluted (in dollars per share)	($0.17)	($0.84)	($0.99)	($1.66)

Earnings_Loss_Per_Share_Additi

Earnings (Loss) Per Share - Additional Information (Detail)	4-May-14	Apr. 28, 2013
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]	'	'
Options to purchase common stock outstanding	465,450	532,350
Restricted Stock Units [Member]	'	'
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]	'	'
Restricted shares outstanding	60,001	56,667

Segment_Data_Summary_of_Sales_

Segment Data - Summary of Sales and Segment Operating Income (Loss) by Reportable Operating Segment (Detail) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	4-May-14	Apr. 28, 2013	4-May-14	Apr. 28, 2013
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]	'	'	'	'
Staffing service revenue	$406,733	$476,729	$799,002	$951,091
Other revenue	44,752	42,995	89,631	88,838
Net revenue	451,485	519,724	888,633	1,039,929
Expenses	'	'	'	'
Direct cost of staffing services revenue	345,899	413,116	687,359	825,109
Cost of other revenue	38,656	39,873	75,934	79,626
Selling, administrative and other operating costs	64,534	74,992	131,642	145,329
Amortization of purchased intangible assets	240	346	559	691
Restructuring costs	918	948	2,279	1,688
Restatement, investigations and remediation	593	7,387	5,261	21,207
Operating income (loss)	645	-16,938	-14,401	-33,721
Operating Segments [Member]	'	'	'	'
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]	'	'	'	'
Staffing service revenue	406,733	476,729	799,002	951,091
Other revenue	44,752	42,995	89,631	88,838
Net revenue	451,485	519,724	888,633	1,039,929
Expenses	'	'	'	'
Direct cost of staffing services revenue	345,899	413,116	687,359	825,109
Cost of other revenue	38,656	39,873	75,934	79,626
Selling, administrative and other operating costs	62,575	72,612	126,725	140,659
Amortization of purchased intangible assets	240	346	559	691
Restructuring costs	598	948	1,959	1,688
Segment operating income (loss)	3,517	-7,171	-3,903	-7,844
Operating Segments [Member] | Staffing Services [Member]	'	'	'	'
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]	'	'	'	'
Staffing service revenue	406,733	476,729	799,002	951,091
Net revenue	406,733	476,729	799,002	951,091
Expenses	'	'	'	'
Direct cost of staffing services revenue	345,899	413,116	687,359	825,109
Cost of other revenue	0	0	0	0
Selling, administrative and other operating costs	53,175	62,058	107,441	120,001
Amortization of purchased intangible assets	25	12	50	24
Restructuring costs	577	133	1,234	418
Segment operating income (loss)	7,057	1,410	2,918	5,539
Operating Segments [Member] | Computer Systems [Member]	'	'	'	'
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]	'	'	'	'
Other revenue	15,405	18,752	30,925	38,978
Net revenue	15,405	18,752	30,925	38,978
Expenses	'	'	'	'
Direct cost of staffing services revenue	0	0	0	0
Cost of other revenue	14,590	16,742	27,735	34,557
Selling, administrative and other operating costs	4,911	6,024	10,188	11,553
Amortization of purchased intangible assets	214	215	429	429
Restructuring costs	-81	815	623	1,270
Segment operating income (loss)	-4,229	-5,044	-8,050	-8,831
Operating Segments [Member] | Other [Member]	'	'	'	'
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]	'	'	'	'
Other revenue	29,347	24,243	58,706	49,860
Net revenue	29,347	24,243	58,706	49,860
Expenses	'	'	'	'
Direct cost of staffing services revenue	0	0	0	0
Cost of other revenue	24,066	23,131	48,199	45,069
Selling, administrative and other operating costs	4,489	4,530	9,096	9,105
Amortization of purchased intangible assets	1	119	80	238
Restructuring costs	102	0	102	0
Segment operating income (loss)	689	-3,537	1,229	-4,552
Corporate, Non-Segment [Member]	'	'	'	'
Expenses	'	'	'	'
Selling, administrative and other operating costs	2,279	2,380	5,237	4,670
Segment Reconciling Items [Member]	'	'	'	'
Expenses	'	'	'	'
Restatement, investigations and remediation	$593	$7,387	$5,261	$21,207