VOLT - Earnings call transcript Q2 2020 | Volt Information Sciences, Inc.

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Operator

Greetings, and welcome to the Volt Information Sciences Second Quarter 2020 Earnings Call. [Operator Instructions]. I will now turn the conference over to our host, Joe Noyons of Investor Relations. Thank you.

You may begin.

Joe Noyons

good and Diego, you, afternoon, everyone. Thank for Second Quarter you joining Call. us Sciences Information Volt for Fiscal today Thank XXXX Conference Earnings

On website a Senior Linda Officer; are market closed Financial the and the the call Executive company afternoon, Chief issued Officer. Perneau, After website its filed and release the is available President Vice President Mueller, release results XXXX. year The as X-K. Form for this announcing a and well the as the at press Chief Herb company's fiscal EDGAR as second SEC quarter today of volt.com on

Also like that, President Linda? would is the Volt's earnings in Linda I Perneau. Information or Before operations. GAAP projected Act turn statements future to, more limited -- that on prepared company's press impacts over I provide those believe made the of detailed included that of and reconciliation variety this due refer may the a A measures differ for We will but operating certain call, you XXXX. remind Private are today's company results recent measures, to the be our beginning measures issued of financial implied will the the factors, COVID-XX today's afternoon. and not impact Actual including, forward-looking those CEO, investors. Volt With results SEC would that discussion for which like from of Sciences' we today to management pandemic business made filings materially a of could the of the condition. Reform reference on the remarks, Litigation some with potential financial under and risk non-GAAP you release to to to call useful Securities information to

Linda Perneau

our call and earnings Joe, quarter to safe you, everyone the and is welcome on call. hope I fiscal that XXXX healthy. second Thank

economy history. the of would health for end, their around shutdown I unprecedented quarter a we seen magnitude economic resilient organization. like around this the world was mandates anything to crisis. the was triggering our in certainly thank Volt's The shelter XX-year of Volt have XXXX the in an unlike to To second rapid colleagues global response globe one place The and for incredible our that and first of

efforts. a level talent As employees have to health, we during then some efforts, begin. as about I are provide Phase our annual our to continues well-being provide the Today, continuing introduced of with which teams priority. support pandemic. reduction same the realizing reopening has our have high be of III our the Despite our will and shareholder recent service capable followed and and challenge with will and company, risen having share admirably, remotely, some of high-level our of top details become the percentage meeting, to high our our performance of of safety commentary to a they Herb response more overview field and I and overview cost colleagues COVID-XX initial to the financial detailed valued accustomed QX an been on results trends some a X will were working our talented of clients phases Volt. further reduction phases teams from

our specifically, XXXX, only also segment time improvement trends second operations. the QX we In quarter, North we the period. Staffing American revenue across As from contracts both year not direct hire X of business reported, experiencing compared from have to prior but in when all previously weeks were same revenue were and first showing favorable

nonessential reduction client impacted open and the assignment. across orders globe, manufacturing, the were ending the defense in impacted effort increases demand, and decline drastically such aerospace operations. in as our roles of resulting was automotive mid-March, in the well support extensive decline. most shutdown, retailers, food of and business Demand centers, course, the as our retail of Of pandemic in contact offsetting around as sufficient immediate the and the canceling businesses. globe, COVID-XX new in operations were the teams addition network and across not for to of opportunities valiant essential agriculture offset branch Despite Partially COVID-XX-related support COVID-XX-related industries

ongoing shutdowns swift we of in our our options and align substantive essential XX.X%. paramount Operationally, impact, the times. Volt overall conditions made revenue operational, office field technological are well as prepared to in trying response to the efforts back moving demand and uncharted SG&A Volt reduce actions in and rapidly were previously proud client We aside quickly have safety We employees. These adjusted the am nonessential many short term. and ensure and quarter, longer with valued team to the and remote decisive taken respond occurred. guided took leadership to both us significant of actions and and fluctuating Board In territory. to past term the we During these businesses and through over mobilized we colleagues, COVID-XX-related current environment during I done revenue work poised and business positioned leaving improve. Directors to today. decline, XX our and national we to efficiencies have successfully declined the enhancements months sustainable work support global to the when clients the The

the of environment. have commitment in opportunities to momentum steadfast our and recovers. and pandemic All many solid remain through through the held of navigate with leadership on We tough pandemic the entered our new and economic executives as global nation directors COVID-XX roles capitalize our

me review financials. quarter's to turn the to call Herb? Let Herb now over the

Herbert Mueller

XXXX clients foreign year-over-year. Revenue effects afternoon, million. the second delivery was the everyone. $XXX.X service which revenue, for impact excludes Thank and quarter decreased Adjusted good the exited, Linda, shifting translations, of managed the businesses model a currency you, of and XX.X% to fiscal of

revenues into This first for our XX%. line The our was comparison and weeks between for impact the and for March As -- recorded period on reflect of in into stated and direct from in with many January which month May to the during January, sequentially the revenues for true XX, started were with February, hire weeks previous followed X hitting to increased. our low realize of reflected a have and of effects that in see week flat to revenues were resulting in of quarter, hire a better direct COVID-XX in our positive COVID-XX, the the revenue impact in XX% a revenues by we of second ending X quarter. a April, as year-over-year as in shifted hold the particularly put the trended full decline February last to After out began during March expectations. decreasing trending of than business, April, of third roles call, we the with revenue the earnings later our month biggest line XX% point March

As more part we gradually July states June will physical revenue improve. business and activity, restrictions for on loosen the locations their latter and our of anticipate outlook that

operating business XX.X%. in $X.X the a segment to revenue million attributable at quarter. Looking was segment related year American North beginning consistent of The represented results. this in decline overall our revenue ago. with with $XXX.X Staffing XX% mid-March from to decreased second during demand Adjusted is income Revenue the decrease million, COVID-XX. primarily of

to impact saw in tracking were first compared trends we the I this As prior sequential to the early quarter improvement to deliver quarter. the revenue mentioned,

double adjustments Staffing year-over-year, related in to pending and associated in and basis revenue, during hire work statutory $XXX,XXX. expansion International At MSP American with quarter in year-over-year X% of actually impact in Adjusted a increased million of over XX% partially the mostly with improvement is COVID-XX-related X decreases orders operating of revenue. the the by quarter. existing $X.X count million, number primarily of a up of shifting primarily revenue segment in offset the by changes business attributable clients U.K. quarter COVID-XX by XX Adjusted this head $XX.X reductions increase to total with Our revenue into Belgium legislation was revenue incremental as revenue digits both and revenue second were to clients. North clients contract represented small points of of income within result The the direct previous of labor, due the certain for which XX.X% $XXX,XXX. Singapore of total second decreased operating quarters, offset income the revenue

quarter Moving second down the in Gross to ago quarter. was margin compared XX.X% year the for the XX.X% P&L.

decrease change Excluding quarter The fiscal $XX.X of the a million our initiatives in payroll in reduced quarter a early prior a was gross compensation business to cost costs related compared was in exited labor expense the due and was XX actions of gross primary adjustment margin XXXX, COVID-XX of in outbreak. quarter 'XX increased of in coupled year, XXXX. $XX.X and reduced swift the second to the XX.X% basis as margin in introduced prior positive fiscal tax for for liability primarily year. related SG&A claims second driver the from stages reduced workers' we rates. million the took the $X.X The the fourth with result from savings to XXXX, points the million

lower higher depreciation compensation. lease real gain expenses compensation and in of offset new under estate to business lower These due in head due by the In addition, $XXX,XXX a reduction count rules. expense the a declined were to share-based and elimination the decreases incentive accounting partially increase and deferred offset

change this recur in fiscal As third a XXXX. impact the of fourth the of will quarters reminder, comparative and

million, XXXX ongoing the of efforts For fiscal $X.X loss costs in of a or a $X.X the cost million $X.XX The we of second second per for the or net of XXXX. to Adjusted throughout $X.X reported loss the to loss of was $XXX,XXX prior of loss share quarter. year quarter million quarter second quarter a second improvement company. during EBITDA quarter $X.XX of fiscal reduction the net included the the related a XXXX, from compared $XXX,XXX

XXXX, At Moving items second the $XX.X in on flow the the short-term we balance to cash and an end a and quarter from cash in and and fiscal of million $XX.X sheet. restricted investments. additional equivalents few of million cash had key

available Our $XX.X we million. long-term debt have was and $XX total of million, liquidity

and pandemic. quarter, our the we $X navigate our first In our amendment to the years ensure XXXX, provide million During by flexibility a reduce X to securitization DZ XXXX relationship and, through drew extended had us positive lender a into -- XXXX. an we net tangible have with which minimum net we Bank in to to to June, of continue relationship the to of our as the a additional facility We million term with will financing positive extend in year by additional them this program entered the we with end. with our covenant financial deferred flexibility income worth greater QX new to quarter, program covenant $XX down our

the under to $XXX base our from available level credit maximum forward. asset our going borrowing facility $XXX to decreased better also reflect We and million reduce to million costs

approximately the $X.X the reminder, in principal capital interest no are there operations expenditures long-term required second cash on the $X.X of of debt a the term loan. with average is We X%, million in from rate As generated flow payments and quarter during our million.

we in review the I'll to Next, outbreak. to COVID-XX actions have response and taken the prior recent

plan, we our in expected January, Phase of savings through in an which included million earnings back-office $X call X functions. of certain announced XXXX savings the offshoring U.S.-based During our fiscal cost

complete Bangalore, announce India. $X.X that facility savings XXX handful pleased our phase but which consists savings additional with fiscal to and result to executed which is positions, of We're shared targeted were substantially XX, number X, $X million. measures of April cost-saving will transitioned of During million. to all annualized targeted our We on in our a that XXXX transition first investor positions Phase our call raised in swiftly we of a

combination calendar the We to count reduce CARES in a will savings you We're the will we from this track million the Linda likely permanent of $XX see passage 'XX Phase to at defer Through payroll year. flexibility minutes, our over were XX the to Volt of greater will the savings. costs of calendar calendar payroll, on and additional Half security million be $X will on few this half and $XX XX FY due at the payment social Act next action financial the defer In XXXX current this the legislation able of end of reductions. calendar we portion through $X This taxes. walk other due March, balance XXXX head XXXX. the a X fiscal of provide in furloughs to months. our our of Based for year. an of million in over in also million will payments end

recent in make and federal U.S. other been But ineligible months. to programs have many not are that restrictive or reviewed it international so does also sense for have programs that participate we We offered us. either are the

modifications to that these because these conclusion, done, programs recovery In determine as to we multiple that feasible believe and start based forward. on steps the and have to COVID-XX had the liquidity are going effects additional Linda, strategies. prior I the monitor we continue have should turn our medium-term situation revenue of programs of pandemic. declines We near analysis time outbreak sufficient actions we access of who the additional review of the the taking incorporating quarter and give taken will announced endure we second be lines, sense, over the the call back and greater detail to to will now COVID-XX on

Linda Perneau

you, Thank Herb.

performance further a cost longer term. additional current prudent to align series Herb and over provide last flexibility savings discussed designed several As our announced we have with initiatives cost levels for base financial of the quarters,

substantive million Herb and closure million X $XX will during prepare million $X an transformation an journey. consolidation SG&A During certain impact. Herb; a of America. bolster incentive while and discussed, Phase in North a and/or company's underutilized Phase cut hiring previously actions directors; of end resources prolonged balance XX, include April our actions we reduction compensation; share suspension additional pay the X fees reduce reductions introduced plan. head actions to X and broad-based us specifically extension temporary today, to reduced our growth financial sufficient estate and XXXX, the of will and have XX for resources myself allow crisis and $XX XXXX incremental resume additional that preserve a approximately periods; throughout freeze; to the spending, fiscal and sheet, implemented properly the of By and temporary response our initial retirement COVID These we Volt's to strengthen actions count add in to I actions with the us since Shareholder the to for Annual match by $XX XXXX. period been a that and will bolstering aggressively allowing million, position combined of Phase salary actions, accounts; postcrisis health real financial substantial Meeting the Phase additional And These beyond, in the on economic still X plan and XX our months. furlough have of this of in savings maintain for reduced

shift The various last through me of the a of the bottom we April of lowest April, trends now are we Let bit expected, the the levels XX% from was of as felt prolonged, for into seeing weeks the May. decline roughly to a more The was across to and April. COVID-XX majority business phases was as reopening X had enacted. end mid-March carrying impact are hitting not the during dipping month point of rather, it the forward

client the by yet QX. varies CDC Overall, gradual country, attempt QX a by fiscal leaving indicating optimistic city cautiously as are categorize I the activity, shift about us X federal, buckets. we guidelines remainder rebound to regional, WHO businesses see a often into and implement the of beginning recent of their this rebound, model. and in operating in local, shift The key X last pace and weeks, into state to Over however, positive can

full call would return to be would I what First work.

These and COVID-XX are of and are recently So into pre-COVID running roughly to our clients XX% currently fully above returned impact very this estimated falls they have category. who levels. work,

or represents recovery. Roughly This will short-term materially hours, specific estimated I be operational of yet roles. what COVID-XX falls businesses to decline of our remained this furloughs demand with reduced would XX% essential clients majority into who shift due of a call less of our bucket Second gradual category.

with are areas, situations are to realize ramp As the we pre-COVID normalizing gradual to return levels. intent in beginning various head to count

is call of The and our COVID-XX will represents I third category what dormant decline. XX% estimated

reduce or their These have are entirety. not uncertain. do decisions made is the in ramp line on early not workforce contingent and We that but and, their contingent are bring return, degree time the they timing workforce clients will back to any fully time, concrete lost labor its present who anticipate these to So at entire clients. the either

maintain continue emerge. prepared to constant accommodate contact, in they needs We relationships these remain to quality as and with clients

In several are these positive addition in to key trends we seeing specific performance shifts, indicators. leading

time translated Over the have specifically, last increased and to weeks near of volume been and cards pre-COVID prior growth. weeks X processed order This and straight volume has at net placement levels. head count or year above X

Our and have growth. created and jobs throughout this the had solid employees. emerging count activity this collectively, on group of capitalize protect teams performance weeks consecutive were to allowed And and branch Strong businesses head X retail many pandemic the crucial to pandemic. team has demonstrated during accountability the of sales

be to the such vital for expect new We in roles return safe to work practices foreseeable future.

I'd the to through continue facets we manage the As of like emphasize X points. many key to crisis,

priority. the clients safety employees of and is field our health #X our colleagues, First, and

Our been our manage our as field wellness enhanced their to confidently protocols. standards employees distancing, we commitment colleagues social resolute safety and critical other have health in clients, to each and and

will our our we'll and to these an market, valued above to placing Volt's opportunities to prepared and workers healthy this keeping properly uncertain And them work. And industry to essential go workforce as in beyond. with to to they field within support new will in clients them times clients. return we leader, employees with teams partner commit turbulent Our assist continue navigating as continue

we effects liquidity of near mentioned, long the as endure the taken and term designed cash benefit And pandemics. considerable COVID-XX believe we sufficient medium-term over and preserve the to and protect These are cost will Second, to we short options have which liquidity. Herb Volt have savings term. measures,

ensure in recruiting and formal challenges, COVID-XX-related of confident emerge focused capable confident and as ability prices clients improve. times. regain existing remain in our manage And candidates pipelines rebound emerging have executive with return team we remain health strategies and I they to uncertain clients these capture our to and pre-COVID leaner, as we strong sales Third, the through of work. organization leading short-term to nimble knowledgeable and fourth, immediately our to and roles continue journey. We have to deploy experienced a developed to a more our and transformation momentum ability together economic these

time when we the not globe, the line quarter. uncertainty and providing to the guidelines continued meet revenue third the able will reopen however, around of will around guidance and recovery the be Given, be businesses for

our We expansion steadfast we continue direct and hire retail business, will head into improvement questions. subsequent anticipate our call execution now of open strategies, including QX of quarters. will I operational the for Operator? as up and and we

Operator

Instructions]. [Operator

comes Josh Sidoti. from first Our question Vogel with

Joshua Vogel

and created can a there maybe from the was being I if clients. Talk line Herb, My clients seen down. possible, COVID-XX-specific break good you guys. the this more press question, kind and in hear this is to being but new duration, just quantify this. to business, the it, Linda about if so expected then existing first altogether? wondering opportunities new these existing maybe, nature was and with about new demand opportunities base? work, release are meet of Are it Or these of talked you you client

Linda Perneau

Yes.

that. a So It's I'll both. of combination take

monitors, as So and needed particularly workers, safety that social and safety distancing operational the health with during we were to clients were them individuals support were were the scanning, requirement, folks -- doing businesses, supply ways that sanitation. doing quickly they existing that temperature very cleaning, were quickly be they health pandemic. that to ensuring able able identified We individuals our essential as we to

existing the with of to has positions then types emerged throughout well -- So leverage our base. those types secured of that clients these those saw quickly wins client We XX, roles. weeks, multiple the we last opportunities new with XX as were with and, new

Joshua Vogel

seeing many the this, realize very the like are think they Okay. estate this, certainly did maneuvers, virtual but come real kind environment. effectively from cost-cutting it some That's events And remote -- you're door on cost a more that going for coming to too. potential you to with and where companies you can to the more about these operate effectively operate helpful. new have that or And and mention is potential have that about other trends, Linda, be recent SG&A It seems you is did talk because accelerated for we areas footprint, the open so and a did does your savings. talk ability of this to about of cost could remotely? work But business? And norm obviously, cuts

Linda Perneau

the going part see start I'm your of going I -- think we're to So second question with first. to

things. we going where where of to our we're in work we've our service in work skill those longer the areas, sets to employee skill think of do drug In do appropriately strong we employees operational other see situations term. can to a that our of field I them specific screening, allow profile can need areas a to combination an clients for where office testing, and continue or specific remote and have us got certain for where types the us remotely clients the require be set to

to points. determine evaluated won't So we'll where And we that to work was combination estate physical And will it's of you impacting and a we we'll where we we all need both. alluded be on to need the those to key will continue because based going remote real continue brick-and-mortar. offices be going to, where all as -- are a of have

seen expense travel we've in Some been have that of other the areas reductions. and

an of building. So when not fully in significant products, office savings all types offices in been in things that think about as and of expense, have working operational, working certainly, across those offices, travel savings significant you're in utilities you we office

Joshua Vogel

working I update from Great. XXX% already, folks. I identify kind know just if statistics. had home, gave there? months field statistics ago and XX you X of and already I Day, opportunities, those with employees clients Any and wondering work-from-home some nice XX% professional Investor of was of the guess, you update could to partnering Okay. you international When about that were technical your of staffing

Linda Perneau

Yes.

pretty be those continue still to So accurate.

seen not are movement obviously continue have We to working the bringing back. and be cautiously terms in They those about and home. from of have in those companies much folks moving employees that employees purposefully concerned

to those pretty we statistics definitive those all brought when still Some folks as do an be others, to much are office; have will we accurate. But dates not. back

Joshua Vogel

maybe And the stable just DSO general. about about historical better if I for Okay. all Herb, that accounts and for were if perspective. terms seems receivable talk a with they of dialogue maybe could your in you clients, asking payment at wondering from was the overall quality portfolio

Herbert Mueller

with second part first. I'll start strong. The very been quality Yes. the has

hanging they've Our and tough, It's balance but clients are in there. good well. doing got are sheets

the little We few out been their that a few here there. pushing not from to manage that XX end it's overall, QX to were could deterioration I of XX at bit, where and very out weeks from able we trying though a stretching but little see a have days have and terms closely. days go been very, further bit to we've But think significant. And possible you had a that

Linda Perneau

actually I'll story. real-life give And a

in So that pointed already the for. a we them -- their we as thing, contractual significant that right orders to us seeing now they than were appreciative We pointed wanted terms and that uptick that us out the and so which from were a And done thankful paying had they that that asking were result. to they went client a terms. we're to and back actually came were actually terms, extended who them them past out have better and

Joshua Vogel

one. nice. And Very Very last nice. just

personnel talking basis. rebound. cuts positioned I available these about kind growth much much the and of you capacity handle And don't you how want cost existing to given cost an place, savings getting guess things You're the do current remain cost for you basis? on and you Or want clearly, when all in annual these revenue how have? do have to you overcut, structure can with

Linda Perneau

in confident additional ability our very the support client, of to the feel business. I regain So momentum, needs add

bold growth. our ensured on allowed reduction, remain while and SG&A being we've have capitalize smart We to in and purposeful and have simultaneously well very we decisive poised ourselves been that that to

Operator

question Miller next Our from [ph]. Ray comes

Unidentified Analyst

This is for Herb.

Earlier, in that last that your bit. quick I covenants just $XX last And it eye my $XX up caught filing June. facility back And know from you follow-up. guys in to a the the the Just go redid little just million. you it million our back supposed XX-Q had mentioned bank you know quarter, kind in quarter to for a then after in redid to the tangible was net mid-March, I down third worth $XX covenant million. of

quarters, basically, bit. So relief X eye for my It looking for just caught little there. a were some you

said, -- what that adjusted you and mentioned $XX remember You if I you I think million. down were to -- that

correctly, I'm now, Just press near XX, pretty release that, worrisome right and reading on if worth you -- imply forward. just if that would that implies -- around little if your a your net that some that that be would But almost revenue hearing going know correctly, is seems stuff -- on I'm that reading I some substantial losses that term. comment can't like half. I'm And

Herbert Mueller

future reason right and look, know line holds. us we've quality since now, that that lender, are it's a them. fully for back about just They're And got went they and for us talked not we plenty worked the this the bottom more said, Right. significant to And secured. of receivables what don't the making measure they our worried sure flexibility. with We when to was allow

a where we basically, back that that in that months just wouldn't comfortable a now we'd it very, adjustment. and So have went be to to position go we number we're X from very and down dropped an ahead make

Unidentified Analyst

big XXXX, have liquidity. recently, got which or you that it's think understand that positive And to Okay. for is guys quarter for is -- that. great I that totally the me last and I extended off

$XX losses with of a we've Just If kind is tag as a wondered million are about we're had Again, address obviously with available of $XX you you had kind assuming your in worth, you that term, you question tangible $XX just a are -- your to million But guys the little address, $XX-or-so can of of million quarter, got changing I just liquidity kind know tag basically, coming difficult around in liquidity. overall you've -- and this great end up, which you I liquidity. gone from net that mentioned, is liquidity. still comfortable? just environment bit last know million. teaming Linda just comforting. about in I call, of earlier covenant teaming can you know medium and some term of mentioned near position. shape

forward Now going you some asked for I'm just if great. worth, that'd look But got know losses and be to net you given stuff I implying you're about that, again, $XX cushion and can with does I be million. that, that. going this -- like obviously How address the

Herbert Mueller

No [ph]. Right. Ray problem,

again, the I feel have handled, as we expect but losses stated, and to that this make we we we from don't just we flexibility we shape, this. wanted significant think in basically, And comfortable need. that So have sure that we're good we

Operator

Instructions]. [Operator

next [ph]. Our question Samuel comes Delta with from Koenig Analytics

Unidentified Analyst

affected about you you either any but to you seem you extra have term I'd and and finance with is do be that about. the what what strong pay quarter to such wondering also most thank to the double let's stock question like to midterm, convertible was and would you'll -- cuts, worried for and potential that it, ask mentioned I you companies industries in say wonderful possible many the a small you COVID-XX -- whether able And financing, -- what is took But I you know hope see touched Herb especially mentioned plans And any secure upon or a industry future that. by short as like the COVID-XX? was that the bond as you the

you I that, answer If appreciate can it.

Linda Perneau

Yes.

industry the take don't can you why and of I part one, take that Herb, the that? So work? Does then second

Herbert Mueller

Sure.

Linda Perneau

Okay.

So let by your the answering me start that around most were industries impacted. question

and business So of leisure industries. really news biggest, and most The we that that of is sector. that amount for don't one significantly significant in the a Volt have industry good in hospitality impacted was

certainly was that support most a operations positive was also Retail retail for us. significantly and So impacted. certainly

were significantly which in that that the during the segments some much pandemic. many very you look both as those, really And are rebound well those starting see of to nice, industries two So is of the of not as impacted X were impacted. at as if really the Top we're other

Herbert Mueller

Right. you part your me? you second And that phone question. don't repeat mind, in the up Could for if broke my of on you

Unidentified Analyst

Yes. other bankrupt we bonds is. of in financing about things. companies, to that Yes. second basically, don't third have with wave been a of a But a the possibility. mentioned is cuts companies, know for short be even was additional is they'll the small companies you Well, cost small ready coming And the and companies, even whatever lot term, wave, midterm out or the it a wave, whether -- having either convertible ensure even companies, question lot of wondering, now, confidence I it

you that areas what little wondering shares have of plans to do also with if I is work, there outstanding, financing. very the you out want are to You was a important, and like people ask expand about. I for doing XX ask And might there's I'd what any more into million

Herbert Mueller

Okay.

the convertibles. use debt, convert to anything wouldn't question we additional foresee a right to is good try currency On be think to do convertible. now right point up in We very the or and now, at set now right stock of our need that a don't a and stock low

I'll back very to people ask Linda liquidity. And question then comfortable it and opportunities. the million that over we're to So the XX follow-up turn our on again with

Linda Perneau

regarding created health expansion have back care, to of -- some post-crisis. nonclinical exciting, is question opportunities which perspective, that continue certainly, which the new result us, came roles Josh's earlier I and of get very will Yes. that entrée for as From growth into So right? new an growth the mentioned definitely opportunities a about COVID-XX that these to

an certainly So opportunity that is of area for us.

to work that expect roles companies these -- safe. and are the provide ensure We as looking are roles reopen to foreseeable for that safely the will critical employees future. remain is They site confidence

the for anticipate we nice some for expansion, nice So future. be expansion foreseeable that this a us will opportunities

Operator

concludes session. Linda Thank you. I'll our back remarks. question-and-answer turn That it Perneau for now closing to

Linda Perneau

today's third your with look call we report forward and XXXX our everyone, for your you interest Volt. September. in you, quarter results continued again in Thank in fiscal to participation for We when speaking

Operator

concludes parties a All Thank today's disconnect. great Have may you. call. conference This evening.

Joe Noyons	Three Part Advisors
Linda Perneau	President, CEO & Director
Herbert Mueller	SVP & CFO
Joshua Vogel	Sidoti & Company

Volt Information Sciences (VOLT) 16 Jun 202020 Q2 Earnings call transcript