-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, U26ko6HCEW6LcpW+MSwvXxlX5aYh8tIcpD3cFhdTSmBsKIj8IURPc9ca40dIumFi bF16JdnsddVkmBq6CNsAlg== 0000910680-02-000855.txt : 20021023 0000910680-02-000855.hdr.sgml : 20021023 20021023164500 ACCESSION NUMBER: 0000910680-02-000855 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20021017 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20021023 FILER: COMPANY DATA: COMPANY CONFORMED NAME: VOLT INFORMATION SCIENCES INC CENTRAL INDEX KEY: 0000103872 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-HELP SUPPLY SERVICES [7363] IRS NUMBER: 135658129 STATE OF INCORPORATION: NY FISCAL YEAR END: 1031 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-09232 FILM NUMBER: 02796328 BUSINESS ADDRESS: STREET 1: 560 LEXINGTON AVENUE CITY: NEW YORK STATE: NY ZIP: 10022-2928 BUSINESS PHONE: 2127042400 MAIL ADDRESS: STREET 1: 1221 AVENUE OF THE AMERICAS CITY: NEW YORK STATE: NY ZIP: 10020 FORMER COMPANY: FORMER CONFORMED NAME: VOLT TECHNICAL CORP DATE OF NAME CHANGE: 19680913 8-K 1 f8k101702.txt FORM 8-K - 10/17/2002 SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ___________________ FORM 8-K Current Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event reported): October 17, 2002 VOLT INFORMATION SCIENCES, INC --------------------------------------------------------- (Exact Name of Registrant as Specified in Its Charter) New York 1-9232 13-5658129 (State or Other Jurisdiction (Commission (I.R.S. Employer of Incorporation) File Number) Identification No.) 560 Lexington Avenue, New York, New York 10022 - ---------------------------------------- ---------- (Address of Principal Executive Offices) (Zip Code) (212) 704-2400 --------------------------------------------------------- (Registrant's Telephone Number, Including Area Code) Not Applicable - -------------------------------------------------------------------------------- (Former Name or Former Address, if Changed Since Last Report) Item 5. Other Events. On October 17, 2002, Volt Information Sciences, Inc. (the "Company") issued a press release to the effect, among other things, that it has received a waiver of the interest coverage (the ratio of EBIT to interest expense) covenant, relating to its fiscal year ending November 3, 2002, contained in its $40,000,000 secured revolving credit facility. All other covenants of the facility remain in effect. The Company has no borrowings outstanding under this facility and there are no borrowings anticipated in the fourth quarter of fiscal 2002 or the first quarter of the next fiscal year. The Company also reported that the credit facility has been assigned a BBB- rating by Fitch IBCA, Duff & Phelps. Item 7. Financial Statements and Exhibits. (a) Financial statements of business acquired: Not applicable. (b) Pro forma financial information: Not applicable. (c) Exhibits: 99.1 Volt Information Sciences, Inc. Press Release dated October 17, 2002. S I G N A T U R E ----------------- Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. VOLT INFORMATION SCIENCES, INC. Date: October 23, 2002 By: /s/ James J. Groberg ------------------------------------- James J. Groberg, Senior Vice President -2- EXHIBIT INDEX ------------- Exhibit Number Description - ------ ----------- 99.1 Volt Information Sciences, Inc. Press Release dated October 17, 2002. EX-99 3 f8k101702ex99_1.txt EX-99.1- PRESS RELEASE - 10/17/02 Exhibit 99.1 FOR IMMEDIATE RELEASE James J. Groberg and Ron Kochman Volt Information Sciences, Inc. (212) 704-2400 voltinvest@volt.com VOLT INFORMATION SCIENCES ANNOUNCES COVENANT WAIVER NEW YORK, NY - October 17, 2002 - James J. Groberg, Chief Financial Officer of Volt Information Sciences, Inc. (NYSE: VOL), announced today that the Company has received a waiver of an interest coverage covenant, relating to its fiscal year ending November 3, 2002, contained in its $40,000,000 secured revolving credit facility. All other covenants of the facility remain in effect. The Company also announced that the credit facility has been assigned a BBB- rating by Fitch. Mr. Groberg stated that "As previously noted in the Company's third quarter earnings release, the Company has no borrowings outstanding under this facility. In addition, there are no borrowings under this facility anticipated in the fourth quarter of fiscal 2002 or the first quarter of the next fiscal year. However, since it is uncertain whether fourth quarter earnings will be sufficient to enable the Company to meet the fiscal year covenant requirement, the Company requested and received the waiver from the banks participating in the facility." Volt Information Sciences, Inc. is a leading national provider of Staffing Services and Telecommunications and Information Solutions for its Fortune 100 customer base. Operating through a network of over 300 Volt Services Group branch offices, the Staffing Services segment fulfills IT and other technical, commercial and industrial placement requirements of its customers, on both a temporary and permanent basis. The Telecommunications and Information Solutions businesses provide complete telephone directory production and directory publishing; a full spectrum of telecommunications construction, installation and engineering services; and advanced information and operator services systems for telephone companies. For additional information, please visit the Volt Information Sciences, Inc., web site at www.volt.com http://www.volt.com/. This press release contains forward-looking statements which are subject to a number of known and unknown risks, including general economic, competitive and other business conditions, the degree and timing of customer utilization and the rate of renewals of contracts with the Company, that could cause actual results, performance and achievements to differ materially from those described or implied in the forward-looking statements. Information concerning these and other factors that could cause actual results to differ materially from those in the forward-looking statements is contained in Company reports filed with the Securities and Exchange Commission. These and other SEC filings by the Company are also available to the public over the Internet at the SEC's website at http://www.sec.gov and at the Company's website at http://www.volt.com in the Investor Information section. ###### -----END PRIVACY-ENHANCED MESSAGE-----