Document_and_Entity_Informatio
Document and Entity Information | 9 Months Ended | |
Aug. 03, 2014 | Sep. 05, 2014 | |
Document And Entity Information [Abstract] | ' | ' |
Document Type | '10-Q | ' |
Amendment Flag | 'false | ' |
Document Period End Date | 3-Aug-14 | ' |
Document Fiscal Year Focus | '2014 | ' |
Document Fiscal Period Focus | 'Q3 | ' |
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 | ' | 20,872,795 |
Condensed_Consolidated_Stateme
Condensed Consolidated Statements of Operations (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Aug. 03, 2014 | Jul. 28, 2013 | Aug. 03, 2014 | Jul. 28, 2013 |
REVENUE: | ' | ' | ' | ' |
Staffing service revenue | $396,979 | $455,848 | $1,195,981 | $1,406,939 |
Other revenue | 39,992 | 48,365 | 129,623 | 137,203 |
NET REVENUE | 436,971 | 504,213 | 1,325,604 | 1,544,142 |
EXPENSES: | ' | ' | ' | ' |
Direct cost of staffing services revenue | 338,704 | 390,432 | 1,026,063 | 1,215,541 |
Cost of other revenue | 35,890 | 37,595 | 111,824 | 117,221 |
Selling, administrative and other operating costs | 60,736 | 72,128 | 192,378 | 217,457 |
Amortization of purchased intangible assets | 195 | 337 | 754 | 1,028 |
Restructuring costs | 117 | 223 | 2,396 | 1,911 |
Restatement, investigations and remediation | 0 | 1,159 | 5,261 | 22,366 |
TOTAL EXPENSES | 435,642 | 501,874 | 1,338,676 | 1,575,524 |
OPERATING INCOME (LOSS) | 1,329 | 2,339 | -13,072 | -31,382 |
OTHER INCOME (EXPENSE), NET: | ' | ' | ' | ' |
Interest income (expense), net | -787 | -817 | -2,449 | -2,046 |
Foreign exchange gain (loss), net | -424 | 113 | -1,645 | 1,590 |
Other income (expense), net | -8 | -23 | 134 | 58 |
TOTAL OTHER INCOME (EXPENSE), NET | -1,219 | -727 | -3,960 | -398 |
INCOME (LOSS) BEFORE INCOME TAXES | 110 | 1,612 | -17,032 | -31,780 |
Income tax provision (benefit) | 590 | -444 | 4,017 | 715 |
NET INCOME (LOSS) | ($480) | $2,056 | ($21,049) | ($32,495) |
Basic: | ' | ' | ' | ' |
Net income (loss) (in dollars per share) | ($0.02) | $0.10 | ($1.01) | ($1.56) |
Weighted average number of shares - basic (shares) | 20,866 | 20,829 | 20,859 | 20,822 |
Diluted: | ' | ' | ' | ' |
Net income (loss) (in dollars per share) | ($0.02) | $0.10 | ($1.01) | ($1.56) |
Weighted average number of shares - diluted (shares) | 20,866 | 21,019 | 20,859 | 20,822 |
Condensed_Consolidated_Stateme1
Condensed Consolidated Statements of Comprehensive Income (Loss) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Aug. 03, 2014 | Jul. 28, 2013 | Aug. 03, 2014 | Jul. 28, 2013 |
Statement of Comprehensive Income [Abstract] | ' | ' | ' | ' |
NET INCOME (LOSS) | ($480) | $2,056 | ($21,049) | ($32,495) |
Other comprehensive income (loss): | ' | ' | ' | ' |
Foreign currency translation adjustments, net of taxes of $0 | -71 | -736 | 1,793 | -3,051 |
Unrealized gain (loss) on marketable securities, net of taxes of $0 | -1 | -3 | 19 | -4 |
Total other comprehensive income (loss) | -72 | -739 | 1,812 | -3,055 |
COMPREHENSIVE INCOME (LOSS) | ($552) | $1,317 | ($19,237) | ($35,550) |
Condensed_Consolidated_Stateme2
Condensed Consolidated Statements of Comprehensive Income (Loss) (Parenthetical) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Aug. 03, 2014 | Jul. 28, 2013 | Aug. 03, 2014 | Jul. 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 $) | Aug. 03, 2014 | Nov. 03, 2013 |
In Thousands, unless otherwise specified | ||
CURRENT ASSETS: | ' | ' |
Cash and cash equivalents | $10,449 | $11,114 |
Restricted cash and short-term investments | 46,282 | 53,500 |
Trade accounts receivable, net of allowances of $1,059 and $1,811, respectively | 251,229 | 293,305 |
Recoverable income taxes | 18,051 | 17,150 |
Prepaid insurance and other current assets | 30,882 | 35,345 |
TOTAL CURRENT ASSETS | 356,893 | 410,414 |
Prepaid insurance and other assets, excluding current portion | 46,859 | 52,574 |
Property, equipment and software, net | 29,924 | 37,324 |
TOTAL ASSETS | 433,676 | 500,312 |
CURRENT LIABILITIES: | ' | ' |
Accrued compensation | 44,038 | 53,474 |
Accounts payable | 53,070 | 57,165 |
Accrued taxes other than income taxes | 18,369 | 19,520 |
Accrued insurance and other | 39,687 | 44,133 |
Deferred revenue, net, current portion | 10,825 | 13,335 |
Short-term borrowings, including current portion of long-term debt | 143,196 | 168,114 |
TOTAL CURRENT LIABILITIES | 309,185 | 355,741 |
Accrued insurance and other, excluding current portion | 13,036 | 14,705 |
Deferred revenue, net, excluding current portion | 3,225 | 2,839 |
Income taxes payable, excluding current portion | 9,109 | 8,659 |
Long-term debt, excluding current portion | 7,451 | 8,127 |
TOTAL LIABILITIES | 342,006 | 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 - 23,560,102 and 23,536,769, respectively; Outstanding - 20,872,795 and 20,849,462, respectively | 2,356 | 2,354 |
Paid-in capital | 72,399 | 72,003 |
Retained earnings | 62,226 | 83,007 |
Accumulated other comprehensive loss | -3,431 | -5,243 |
Treasury stock, at cost; 2,687,307 shares | -41,880 | -41,880 |
TOTAL STOCKHOLDERS' EQUITY | 91,670 | 110,241 |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $433,676 | $500,312 |
Condensed_Consolidated_Balance1
Condensed Consolidated Balance Sheets (Parenthetical) (USD $) | Aug. 03, 2014 | Nov. 03, 2013 |
In Thousands, except Share data, unless otherwise specified | ||
Statement of Financial Position [Abstract] | ' | ' |
Trade accounts receivable, allowances | $1,059 | $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 | 23,560,102 | 23,536,769 |
Common stock, shares outstanding | 20,872,795 | 20,849,462 |
Treasury stock, shares | 2,687,307 | 2,687,307 |
Condensed_Consolidated_Stateme3
Condensed Consolidated Statements of Cash Flows (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Aug. 03, 2014 | Jul. 28, 2013 |
CASH FLOWS FROM OPERATING ACTIVITIES: | ' | ' |
Net loss | ($21,049) | ($32,495) |
Adjustment to reconcile net loss to cash provided by (used in) operating activities: | ' | ' |
Depreciation and amortization | 9,463 | 11,380 |
Provision (release) of doubtful accounts and sales allowances | -285 | 376 |
Unrealized foreign currency exchange loss (gain) | 2,049 | -1,824 |
(Gain) Loss on dispositions of property, equipment and software | 177 | -89 |
Deferred income tax provision (benefit) | 1,415 | -1,736 |
Share-based compensation expense | 398 | 383 |
Change in operating assets and liabilities: | ' | ' |
Trade accounts receivable | 42,133 | 48,286 |
Restricted cash related to customer contracts | -129 | 11,530 |
Prepaid insurance and other assets | 8,569 | -10,645 |
Accounts payable | -3,846 | -29,526 |
Accrued expenses | -17,188 | -5,804 |
Deferred revenue, net | -2,461 | -5,731 |
Other liabilities | -312 | -140 |
Income taxes | -346 | -6,038 |
Net cash provided by (used in) operating activities | 18,588 | -22,073 |
CASH FLOWS FROM INVESTING ACTIVITIES: | ' | ' |
Sales of investments | 1,109 | 1,556 |
Purchases of investments | -397 | -1,485 |
Proceeds from sale of software related assets | 3,000 | 0 |
Proceeds from sale of property, equipment, and software | 5 | 245 |
Purchases of property, equipment, and software | -4,196 | -6,916 |
Net cash provided by (used in) investing activities | -479 | -6,600 |
CASH FLOWS FROM FINANCING ACTIVITES: | ' | ' |
Increase in cash restricted as collateral for borrowings | 6,807 | 4,410 |
Net change in short-term borrowings | -24,853 | 19,977 |
Repayment of long-term debt | -623 | -570 |
Net cash provided by (used in) financing activities | -18,669 | 23,817 |
Effect of exchange rate changes on cash and cash equivalents | -105 | -238 |
Net increase (decrease) in cash and cash equivalents | -665 | -5,094 |
Cash and cash equivalents, beginning of period | 11,114 | 26,483 |
Cash and cash equivalents, end of period | 10,449 | 21,389 |
Cash paid during the period: | ' | ' |
Interest | 2,729 | 2,114 |
Income taxes | $4,246 | $9,823 |
Basis_of_Presentation
Basis of Presentation | 9 Months Ended |
Aug. 03, 2014 | |
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 conjunction 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 nine month periods in fiscal 2014 and 2013 each consisted of 13 weeks and 39 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 | 9 Months Ended |
Aug. 03, 2014 | |
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 implementation 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 standard is effective for fiscal years and interim reporting periods beginning after December 15, 2016. The Company is currently assessing the impact that the adoption of this standard will have on its consolidated financial statements and related disclosures upon implementation in the first quarter of fiscal year 2018. |
Restricted_Cash_and_ShortTerm_
Restricted Cash and Short-Term Investments | 9 Months Ended |
Aug. 03, 2014 | |
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 August 3, 2014 and November 3, 2013, restricted cash and short-term investments included $15.7 million and $15.6 million, respectively, restricted for payment to associate vendors and $25.0 million and $31.8 million, respectively, restricted as collateral under the Short-Term Credit Facility. | |
At August 3, 2014 and November 3, 2013, restricted cash and short-term investments included $5.6 million and $6.1 million, respectively, of short-term investments. These short-term investments consisted primarily of the fair value of deferred compensation investments corresponding to employees’ selections, primarily in mutual funds, based on quoted prices in active markets. |
Hedging
Hedging | 9 Months Ended |
Aug. 03, 2014 | |
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 nine 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 August 3, 2014 and November 3, 2013, the Company had outstanding $22.3 million of foreign currency denominated short-term borrowings. 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 third quarter of fiscal 2014 and 2013, net gains (losses) on these borrowings and instruments of $0.1 million and $0.0 million, respectively, were included in Foreign Exchange Gain (Loss), net in the Condensed Consolidated Statements of Operations. For the nine months ended August 3, 2014 and July 28, 2013, net gains (losses) on these borrowings and instruments of $(0.2) 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 | 9 Months Ended |
Aug. 03, 2014 | |
Income Tax Disclosure [Abstract] | ' |
Income Taxes | ' |
Income Taxes | |
The income tax provision (benefit) reflects the geographic mix of earnings in various federal, state and foreign tax jurisdictions and their applicable rates resulting in a composite effective tax rate. Our quarterly 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 affected by earnings being different than anticipated in countries with differing statutory rates, increases in recorded valuation allowances of tax assets, or changes in tax laws. | |
The Company adjusts its effective tax rate for each quarter to be consistent with the estimated annual effective tax rate, consistent with ASC 270, “Interim Reporting,” and ASC 740-270, “Income Taxes – Intra Period Tax Allocation.” Jurisdictions with a projected loss for the full year where no tax benefit can be recognized are excluded from the calculation of the estimated annual effective tax rate. | |
The provision for income taxes in the third quarter of fiscal 2014 was $0.6 million compared to a benefit of $0.4 million in 2013 and a provision of $4.0 million compared to $0.7 million for the nine months ended August 3, 2014 and July 28, 2013, respectively. The Company’s cumulative results for substantially all United States and certain non-United States jurisdictions for the most recent three-year period is a loss. Accordingly, a valuation allowance has been established for substantially all loss carryforwards and other net deferred tax assets for these jurisdictions, resulting in an effective tax rate that is significantly different than the statutory rate. |
Debt
Debt | 9 Months Ended |
Aug. 03, 2014 | |
Debt Disclosure [Abstract] | ' |
Debt | ' |
Debt | |
The Company had borrowings at August 3, 2014 of $142.3 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 $25.0 million. Available borrowing was $20.7 million under the $200.0 million Short-Term Financing Program and $22.7 million under the $45.0 million Short-Term Credit Facility as of August 3, 2014. | |
At August 3, 2014 and November 3, 2013, the Company had outstanding borrowing under the Short-Term Financing Program of $120.0 million and $142.0 million, respectively, which carried weighted average annual interest rates of 1.7% and 1.6% during the third quarter of fiscal 2014 and 2013, respectively, and 1.6% during the first nine months of 2014 and 2013, which is inclusive of certain facility and program fees. | |
At August 3, 2014 and November 3, 2013, the Company had drawn $22.3 million under the Short-Term Credit Facility, in various currencies used primarily to hedge the Company’s net investment in certain foreign subsidiaries. During the third quarter of fiscal 2014 and 2013, borrowings carried a weighted average annual interest rate of 1.9% in each period, and 1.9% and 2.0% during the first nine months of 2014 and 2013, respectively, which is inclusive of the facility fee. |
Earnings_Loss_Per_Share
Earnings (Loss) Per Share | 9 Months Ended | |||||||||||||||
Aug. 03, 2014 | ||||||||||||||||
Earnings Per Share [Abstract] | ' | |||||||||||||||
Earnings (Loss) Per Share | ' | |||||||||||||||
Earnings (Loss) Per Share | ||||||||||||||||
Basic and diluted net income (loss) per share is calculated as follows (in thousands, except per share amounts): | ||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||
August 3, 2014 | July 28, 2013 | August 3, 2014 | July 28, 2013 | |||||||||||||
Numerator | ||||||||||||||||
Net income (loss) | $ | (480 | ) | $ | 2,056 | $ | (21,049 | ) | $ | (32,495 | ) | |||||
Denominator | ||||||||||||||||
Basic weighted average number of common shares | 20,866 | 20,829 | 20,859 | 20,822 | ||||||||||||
Diluted weighted average number of common shares | 20,866 | 21,019 | 20,859 | 20,822 | ||||||||||||
Net income (loss) per share - basic | $ | (0.02 | ) | $ | 0.1 | $ | (1.01 | ) | $ | (1.56 | ) | |||||
Net income (loss) per share - diluted | $ | (0.02 | ) | $ | 0.1 | $ | (1.01 | ) | $ | (1.56 | ) | |||||
Options to purchase 789,850 and 515,350 shares of the Company’s common stock were outstanding at August 3, 2014 and July 28, 2013, respectively. Additionally, there were 50,001 and 46,667 restricted shares outstanding at August 3, 2014 and July 28, 2013, respectively. The options and restricted shares were not included in the computation of diluted earnings (loss) per share in the three and nine months of fiscal 2014 and the nine months of 2013 because the effect of their inclusion would have been anti-dilutive as a result of the Company’s net loss position in those periods. |
Commitments_and_Contingencies
Commitments and Contingencies | 9 Months Ended | |
Aug. 03, 2014 | ||
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 | 9 Months Ended | |||||||||||||||
Aug. 03, 2014 | ||||||||||||||||
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 third quarter of fiscal 2014 and 2013 and for the first nine months of fiscal 2014 and 2013 are summarized in the following table: | ||||||||||||||||
Three Months Ended August 3, 2014 | ||||||||||||||||
(in thousands) | Total | Staffing Services | Computer Systems | Other | ||||||||||||
Revenue | ||||||||||||||||
Staffing service revenue | $ | 396,979 | $ | 396,979 | $ | — | $ | — | ||||||||
Other revenue | 39,992 | — | 14,322 | 25,670 | ||||||||||||
Net revenue | 436,971 | 396,979 | 14,322 | 25,670 | ||||||||||||
Expenses | ||||||||||||||||
Direct cost of staffing services revenue | 338,704 | 338,704 | — | — | ||||||||||||
Cost of other revenue | 35,890 | — | 13,572 | 22,318 | ||||||||||||
Selling, administrative and other operating costs | 58,417 | 49,667 | 4,349 | 4,401 | ||||||||||||
Amortization of purchased intangible assets | 195 | 26 | 169 | — | ||||||||||||
Restructuring costs | 117 | 42 | (24 | ) | 99 | |||||||||||
Segment operating income (loss) | 3,648 | 8,540 | (3,744 | ) | (1,148 | ) | ||||||||||
Corporate general and administrative | 2,319 | |||||||||||||||
Restatement, investigations and remediation | — | |||||||||||||||
Operating income | $ | 1,329 | ||||||||||||||
Three Months Ended July 28, 2013 | ||||||||||||||||
(in thousands) | Total | Staffing Services | Computer Systems | Other | ||||||||||||
Revenue | ||||||||||||||||
Staffing service revenue | $ | 455,848 | $ | 455,848 | $ | — | $ | — | ||||||||
Other revenue | 48,365 | — | 15,500 | 32,865 | ||||||||||||
Net revenue | 504,213 | 455,848 | 15,500 | 32,865 | ||||||||||||
Expenses | ||||||||||||||||
Direct cost of staffing services revenue | 390,432 | 390,432 | — | — | ||||||||||||
Cost of other revenue | 37,595 | — | 14,390 | 23,205 | ||||||||||||
Selling, administrative and other operating costs | 69,689 | 58,602 | 5,792 | 5,295 | ||||||||||||
Amortization of purchased intangible assets | 337 | 3 | 214 | 120 | ||||||||||||
Restructuring costs | 223 | 141 | 82 | — | ||||||||||||
Segment operating income (loss) | 5,937 | 6,670 | (4,978 | ) | 4,245 | |||||||||||
Corporate general and administrative | 2,439 | |||||||||||||||
Restatement, investigations and remediation | 1,159 | |||||||||||||||
Operating income | $ | 2,339 | ||||||||||||||
Nine Months Ended August 3, 2014 | ||||||||||||||||
(in thousands) | Total | Staffing Services | Computer Systems | Other | ||||||||||||
Revenue | ||||||||||||||||
Staffing service revenue | $ | 1,195,981 | $ | 1,195,981 | $ | — | $ | — | ||||||||
Other revenue | 129,623 | — | 45,247 | 84,376 | ||||||||||||
Net revenue | 1,325,604 | 1,195,981 | 45,247 | 84,376 | ||||||||||||
Expenses | ||||||||||||||||
Direct cost of staffing services revenue | 1,026,063 | 1,026,063 | — | — | ||||||||||||
Cost of other revenue | 111,824 | — | 41,307 | 70,517 | ||||||||||||
Selling, administrative and other operating costs | 185,142 | 157,108 | 14,537 | 13,497 | ||||||||||||
Amortization of purchased intangible assets | 754 | 76 | 598 | 80 | ||||||||||||
Restructuring costs | 2,076 | 1,276 | 599 | 201 | ||||||||||||
Segment operating income (loss) | (255 | ) | 11,458 | (11,794 | ) | 81 | ||||||||||
Corporate general and administrative | 7,556 | |||||||||||||||
Restatement, investigations and remediation | 5,261 | |||||||||||||||
Operating loss | $ | (13,072 | ) | |||||||||||||
Nine Months Ended July 28, 2013 | ||||||||||||||||
(in thousands) | Total | Staffing Services | Computer Systems | Other | ||||||||||||
Revenue | ||||||||||||||||
Staffing service revenue | $ | 1,406,939 | $ | 1,406,939 | $ | — | $ | — | ||||||||
Other revenue | 137,203 | — | 54,478 | 82,725 | ||||||||||||
Net revenue | 1,544,142 | 1,406,939 | 54,478 | 82,725 | ||||||||||||
Expenses | ||||||||||||||||
Direct cost of staffing services revenue | 1,215,541 | 1,215,541 | — | — | ||||||||||||
Cost of other revenue | 117,221 | — | 48,947 | 68,274 | ||||||||||||
Selling, administrative and other operating costs | 210,348 | 178,603 | 17,345 | 14,400 | ||||||||||||
Amortization of purchased intangible assets | 1,028 | 27 | 643 | 358 | ||||||||||||
Restructuring costs | 1,911 | 559 | 1,352 | — | ||||||||||||
Segment operating income (loss) | (1,907 | ) | 12,209 | (13,809 | ) | (307 | ) | |||||||||
Corporate general and administrative | 7,109 | |||||||||||||||
Restatement, investigations and remediation | 22,366 | |||||||||||||||
Operating loss | $ | (31,382 | ) |
Basis_of_Presentation_Policies
Basis of Presentation (Policies) | 9 Months Ended |
Aug. 03, 2014 | |
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 conjunction 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 nine month periods in fiscal 2014 and 2013 each consisted of 13 weeks and 39 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. | |
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 implementation 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 standard is effective for fiscal years and interim reporting periods beginning after December 15, 2016. The Company is currently assessing the impact that the adoption of this standard will have on its consolidated financial statements and related disclosures upon implementation in the first quarter of fiscal year 2018. |
Earnings_Loss_Per_Share_Tables
Earnings (Loss) Per Share (Tables) | 9 Months Ended | |||||||||||||||
Aug. 03, 2014 | ||||||||||||||||
Earnings Per Share [Abstract] | ' | |||||||||||||||
Summary of Basic and Diluted Net Loss Per Share | ' | |||||||||||||||
Basic and diluted net income (loss) per share is calculated as follows (in thousands, except per share amounts): | ||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||
August 3, 2014 | July 28, 2013 | August 3, 2014 | July 28, 2013 | |||||||||||||
Numerator | ||||||||||||||||
Net income (loss) | $ | (480 | ) | $ | 2,056 | $ | (21,049 | ) | $ | (32,495 | ) | |||||
Denominator | ||||||||||||||||
Basic weighted average number of common shares | 20,866 | 20,829 | 20,859 | 20,822 | ||||||||||||
Diluted weighted average number of common shares | 20,866 | 21,019 | 20,859 | 20,822 | ||||||||||||
Net income (loss) per share - basic | $ | (0.02 | ) | $ | 0.1 | $ | (1.01 | ) | $ | (1.56 | ) | |||||
Net income (loss) per share - diluted | $ | (0.02 | ) | $ | 0.1 | $ | (1.01 | ) | $ | (1.56 | ) | |||||
Segment_Data_Tables
Segment Data (Tables) | 9 Months Ended | |||||||||||||||
Aug. 03, 2014 | ||||||||||||||||
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 third quarter of fiscal 2014 and 2013 and for the first nine months of fiscal 2014 and 2013 are summarized in the following table: | ||||||||||||||||
Three Months Ended August 3, 2014 | ||||||||||||||||
(in thousands) | Total | Staffing Services | Computer Systems | Other | ||||||||||||
Revenue | ||||||||||||||||
Staffing service revenue | $ | 396,979 | $ | 396,979 | $ | — | $ | — | ||||||||
Other revenue | 39,992 | — | 14,322 | 25,670 | ||||||||||||
Net revenue | 436,971 | 396,979 | 14,322 | 25,670 | ||||||||||||
Expenses | ||||||||||||||||
Direct cost of staffing services revenue | 338,704 | 338,704 | — | — | ||||||||||||
Cost of other revenue | 35,890 | — | 13,572 | 22,318 | ||||||||||||
Selling, administrative and other operating costs | 58,417 | 49,667 | 4,349 | 4,401 | ||||||||||||
Amortization of purchased intangible assets | 195 | 26 | 169 | — | ||||||||||||
Restructuring costs | 117 | 42 | (24 | ) | 99 | |||||||||||
Segment operating income (loss) | 3,648 | 8,540 | (3,744 | ) | (1,148 | ) | ||||||||||
Corporate general and administrative | 2,319 | |||||||||||||||
Restatement, investigations and remediation | — | |||||||||||||||
Operating income | $ | 1,329 | ||||||||||||||
Three Months Ended July 28, 2013 | ||||||||||||||||
(in thousands) | Total | Staffing Services | Computer Systems | Other | ||||||||||||
Revenue | ||||||||||||||||
Staffing service revenue | $ | 455,848 | $ | 455,848 | $ | — | $ | — | ||||||||
Other revenue | 48,365 | — | 15,500 | 32,865 | ||||||||||||
Net revenue | 504,213 | 455,848 | 15,500 | 32,865 | ||||||||||||
Expenses | ||||||||||||||||
Direct cost of staffing services revenue | 390,432 | 390,432 | — | — | ||||||||||||
Cost of other revenue | 37,595 | — | 14,390 | 23,205 | ||||||||||||
Selling, administrative and other operating costs | 69,689 | 58,602 | 5,792 | 5,295 | ||||||||||||
Amortization of purchased intangible assets | 337 | 3 | 214 | 120 | ||||||||||||
Restructuring costs | 223 | 141 | 82 | — | ||||||||||||
Segment operating income (loss) | 5,937 | 6,670 | (4,978 | ) | 4,245 | |||||||||||
Corporate general and administrative | 2,439 | |||||||||||||||
Restatement, investigations and remediation | 1,159 | |||||||||||||||
Operating income | $ | 2,339 | ||||||||||||||
Nine Months Ended August 3, 2014 | ||||||||||||||||
(in thousands) | Total | Staffing Services | Computer Systems | Other | ||||||||||||
Revenue | ||||||||||||||||
Staffing service revenue | $ | 1,195,981 | $ | 1,195,981 | $ | — | $ | — | ||||||||
Other revenue | 129,623 | — | 45,247 | 84,376 | ||||||||||||
Net revenue | 1,325,604 | 1,195,981 | 45,247 | 84,376 | ||||||||||||
Expenses | ||||||||||||||||
Direct cost of staffing services revenue | 1,026,063 | 1,026,063 | — | — | ||||||||||||
Cost of other revenue | 111,824 | — | 41,307 | 70,517 | ||||||||||||
Selling, administrative and other operating costs | 185,142 | 157,108 | 14,537 | 13,497 | ||||||||||||
Amortization of purchased intangible assets | 754 | 76 | 598 | 80 | ||||||||||||
Restructuring costs | 2,076 | 1,276 | 599 | 201 | ||||||||||||
Segment operating income (loss) | (255 | ) | 11,458 | (11,794 | ) | 81 | ||||||||||
Corporate general and administrative | 7,556 | |||||||||||||||
Restatement, investigations and remediation | 5,261 | |||||||||||||||
Operating loss | $ | (13,072 | ) | |||||||||||||
Nine Months Ended July 28, 2013 | ||||||||||||||||
(in thousands) | Total | Staffing Services | Computer Systems | Other | ||||||||||||
Revenue | ||||||||||||||||
Staffing service revenue | $ | 1,406,939 | $ | 1,406,939 | $ | — | $ | — | ||||||||
Other revenue | 137,203 | — | 54,478 | 82,725 | ||||||||||||
Net revenue | 1,544,142 | 1,406,939 | 54,478 | 82,725 | ||||||||||||
Expenses | ||||||||||||||||
Direct cost of staffing services revenue | 1,215,541 | 1,215,541 | — | — | ||||||||||||
Cost of other revenue | 117,221 | — | 48,947 | 68,274 | ||||||||||||
Selling, administrative and other operating costs | 210,348 | 178,603 | 17,345 | 14,400 | ||||||||||||
Amortization of purchased intangible assets | 1,028 | 27 | 643 | 358 | ||||||||||||
Restructuring costs | 1,911 | 559 | 1,352 | — | ||||||||||||
Segment operating income (loss) | (1,907 | ) | 12,209 | (13,809 | ) | (307 | ) | |||||||||
Corporate general and administrative | 7,109 | |||||||||||||||
Restatement, investigations and remediation | 22,366 | |||||||||||||||
Operating loss | $ | (31,382 | ) |
Basis_of_Presentation_Details
Basis of Presentation (Details) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
Aug. 03, 2014 | Jul. 28, 2013 | Aug. 03, 2014 | Jul. 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 | '273 days | '273 days | '371 days | '364 days |
Restricted_Cash_and_ShortTerm_1
Restricted Cash and Short-Term Investments - Additional Information (Detail) (USD $) | Aug. 03, 2014 | Nov. 03, 2013 |
In Millions, unless otherwise specified | ||
Short-Term Credit Facility [Member] | ' | ' |
Restricted Cash and Cash Equivalents Items [Line Items] | ' | ' |
Restricted as collateral | $25 | ' |
Restricted cash and short-term investments [Member] | ' | ' |
Restricted Cash and Cash Equivalents Items [Line Items] | ' | ' |
Restricted cash | 15.7 | 15.6 |
Short-term investments | 5.6 | 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 | $25 | $31.80 |
Hedging_Additional_Information
Hedging - Additional Information (Detail) (Foreign Exchange Gain (Loss) [Member], Not Designated as Hedging Instrument [Member], USD $) | Aug. 03, 2014 | Nov. 03, 2013 | Aug. 03, 2014 | Jul. 28, 2013 | Aug. 03, 2014 | Jul. 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 | $22.30 | $22.30 | ' | ' | ' | ' |
Net gains/ (losses) on borrowings and instruments | ' | ' | ($0.10) | $0 | ($0.20) | $0.40 |
Income_Taxes_Details
Income Taxes (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Aug. 03, 2014 | Jul. 28, 2013 | Aug. 03, 2014 | Jul. 28, 2013 |
Income Tax Disclosure [Abstract] | ' | ' | ' | ' |
Income tax provision | $590 | ($444) | $4,017 | $715 |
Debt_Additional_Information_De
Debt - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | |||
Aug. 03, 2014 | Jul. 28, 2013 | Aug. 03, 2014 | Jul. 28, 2013 | Nov. 03, 2013 | |
Extinguishment of Debt [Line Items] | ' | ' | ' | ' | ' |
Amount outstanding | $142,300,000 | ' | $142,300,000 | ' | ' |
Borrowing capacity of facility | 245,000,000 | ' | 245,000,000 | ' | ' |
Short-Term Financing Program [Member] | ' | ' | ' | ' | ' |
Extinguishment of Debt [Line Items] | ' | ' | ' | ' | ' |
Amount outstanding | 120,000,000 | ' | 120,000,000 | ' | 142,000,000 |
Borrowing capacity of facility | 200,000,000 | ' | 200,000,000 | ' | ' |
Available borrowing capacity of facility | 20,700,000 | ' | 20,700,000 | ' | ' |
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 | 25,000,000 | ' | 25,000,000 | ' | ' |
Available borrowing capacity of facility | 22,700,000 | ' | 22,700,000 | ' | ' |
Weighted average interest rate during period | 1.90% | 1.90% | 1.90% | 2.00% | ' |
Line of Credit [Member] | ' | ' | ' | ' | ' |
Extinguishment of Debt [Line Items] | ' | ' | ' | ' | ' |
Amount outstanding | $22,300,000 | ' | $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 | 9 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Aug. 03, 2014 | Jul. 28, 2013 | Aug. 03, 2014 | Jul. 28, 2013 |
Numerator | ' | ' | ' | ' |
Net income (loss) | ($480) | $2,056 | ($21,049) | ($32,495) |
Denominator | ' | ' | ' | ' |
Basic weighted average number of common shares (shares) | 20,866 | 20,829 | 20,859 | 20,822 |
Dilutive weighted average number of common shares (shares) | 20,866 | 21,019 | 20,859 | 20,822 |
Net income (loss) per share (in dollars per share) | ($0.02) | $0.10 | ($1.01) | ($1.56) |
Net income (loss) per share (in dollars per share) | ($0.02) | $0.10 | ($1.01) | ($1.56) |
Earnings_Loss_Per_Share_Additi
Earnings (Loss) Per Share - Additional Information (Detail) | Aug. 03, 2014 | Jul. 28, 2013 |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' |
Options to purchase common stock outstanding | 789,850 | 515,350 |
Restricted Stock Units [Member] | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' |
Restricted shares outstanding | 50,001 | 46,667 |
Segment_Data_Summary_of_Sales_
Segment Data - Summary of Sales and Segment Operating Income (Loss) by Reportable Operating Segment (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Aug. 03, 2014 | Jul. 28, 2013 | Aug. 03, 2014 | Jul. 28, 2013 |
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | ' | ' | ' | ' |
Staffing service revenue | $396,979 | $455,848 | $1,195,981 | $1,406,939 |
Other revenue | 39,992 | 48,365 | 129,623 | 137,203 |
Net revenue | 436,971 | 504,213 | 1,325,604 | 1,544,142 |
Expenses | ' | ' | ' | ' |
Direct cost of staffing services revenue | 338,704 | 390,432 | 1,026,063 | 1,215,541 |
Cost of other revenue | 35,890 | 37,595 | 111,824 | 117,221 |
Selling, administrative and other operating costs | 60,736 | 72,128 | 192,378 | 217,457 |
Amortization of purchased intangible assets | 195 | 337 | 754 | 1,028 |
Restructuring costs | 117 | 223 | 2,396 | 1,911 |
Restatement, investigations and remediation | 0 | 1,159 | 5,261 | 22,366 |
Operating income (loss) | 1,329 | 2,339 | -13,072 | -31,382 |
Operating Segments [Member] | ' | ' | ' | ' |
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | ' | ' | ' | ' |
Staffing service revenue | 396,979 | 455,848 | 1,195,981 | 1,406,939 |
Other revenue | 39,992 | 48,365 | 129,623 | 137,203 |
Net revenue | 436,971 | 504,213 | 1,325,604 | 1,544,142 |
Expenses | ' | ' | ' | ' |
Direct cost of staffing services revenue | 338,704 | 390,432 | 1,026,063 | 1,215,541 |
Cost of other revenue | 35,890 | 37,595 | 111,824 | 117,221 |
Selling, administrative and other operating costs | 58,417 | 69,689 | 185,142 | 210,348 |
Amortization of purchased intangible assets | 195 | 337 | 754 | 1,028 |
Restructuring costs | 117 | 223 | 2,076 | 1,911 |
Segment operating income (loss) | 3,648 | 5,937 | -255 | -1,907 |
Operating Segments [Member] | Staffing Services [Member] | ' | ' | ' | ' |
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | ' | ' | ' | ' |
Staffing service revenue | 396,979 | 455,848 | 1,195,981 | 1,406,939 |
Other revenue | 0 | 0 | 0 | 0 |
Net revenue | 396,979 | 455,848 | 1,195,981 | 1,406,939 |
Expenses | ' | ' | ' | ' |
Direct cost of staffing services revenue | 338,704 | 390,432 | 1,026,063 | 1,215,541 |
Cost of other revenue | 0 | 0 | 0 | 0 |
Selling, administrative and other operating costs | 49,667 | 58,602 | 157,108 | 178,603 |
Amortization of purchased intangible assets | 26 | 3 | 76 | 27 |
Restructuring costs | 42 | 141 | 1,276 | 559 |
Segment operating income (loss) | 8,540 | 6,670 | 11,458 | 12,209 |
Operating Segments [Member] | Computer Systems [Member] | ' | ' | ' | ' |
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | ' | ' | ' | ' |
Staffing service revenue | 0 | 0 | 0 | 0 |
Other revenue | 14,322 | 15,500 | 45,247 | 54,478 |
Net revenue | 14,322 | 15,500 | 45,247 | 54,478 |
Expenses | ' | ' | ' | ' |
Direct cost of staffing services revenue | 0 | 0 | 0 | 0 |
Cost of other revenue | 13,572 | 14,390 | 41,307 | 48,947 |
Selling, administrative and other operating costs | 4,349 | 5,792 | 14,537 | 17,345 |
Amortization of purchased intangible assets | 169 | 214 | 598 | 643 |
Restructuring costs | -24 | 82 | 599 | 1,352 |
Segment operating income (loss) | -3,744 | -4,978 | -11,794 | -13,809 |
Operating Segments [Member] | Other [Member] | ' | ' | ' | ' |
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | ' | ' | ' | ' |
Staffing service revenue | 0 | 0 | 0 | 0 |
Other revenue | 25,670 | 32,865 | 84,376 | 82,725 |
Net revenue | 25,670 | 32,865 | 84,376 | 82,725 |
Expenses | ' | ' | ' | ' |
Direct cost of staffing services revenue | 0 | 0 | 0 | 0 |
Cost of other revenue | 22,318 | 23,205 | 70,517 | 68,274 |
Selling, administrative and other operating costs | 4,401 | 5,295 | 13,497 | 14,400 |
Amortization of purchased intangible assets | 0 | 120 | 80 | 358 |
Restructuring costs | 99 | 0 | 201 | 0 |
Segment operating income (loss) | -1,148 | 4,245 | 81 | -307 |
Corporate, Non-Segment [Member] | ' | ' | ' | ' |
Expenses | ' | ' | ' | ' |
Selling, administrative and other operating costs | 2,319 | 2,439 | 7,556 | 7,109 |
Segment Reconciling Items [Member] | ' | ' | ' | ' |
Expenses | ' | ' | ' | ' |
Restatement, investigations and remediation | $0 | $1,159 | $5,261 | $22,366 |