8-K

UNITED STATES

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): August 12, 2009

VOLT INFORMATION SCIENCES, INC.

(Exact Name of Registrant as Specified in Its Charter)

New York	1-9232	13-5658129
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)

1600 Stewart Avenue, Westbury, New York	11590
(Address of Principal Executive Offices)	(Zip Code)

(516) 228-6700

(Registrant’s Telephone Number, Including Area Code)

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 1.02. Termination of a Material Definitive Agreement.

On August 12, 2009, Volt Information Sciences, Inc. (the “Company”) announced that its wholly owned subsidiary Volt Delta Resources, LLC (“Volt Delta”) has voluntarily prepaid the $42 million of outstanding borrowings under the $75 million Volt Delta secured credit facility (the “Delta Credit Facility”). Further, Volt Delta elected to terminate the Delta Credit Facility, effective August 12, 2009, because no further borrowings were anticipated through its scheduled expiration date in December 2009. The outstanding borrowings were repaid from funds provided by the Company which had excess cash resulting from the sale of the Company’s domestic directory publishing operations in September 2008. Certain foreign denominated borrowings supported by the Delta Credit Facility have been transferred to the Company’s unsecured revolving credit facility.

The Delta Credit Facility was established under a secured, syndicated, revolving credit agreement with Wells Fargo, National Association, as the administrative agent, the arranger, and a lender. In addition to Wells Fargo, the following four other banks also participated as lenders under the Delta Credit Facility: Bank of America, N.A., JPMorgan Chase Bank, N.A., HSBC Bank USA, National Association, and Lloyds TSB Bank plc. Wells Fargo, Bank of America, JPMorgan Chase Bank and HSBC Bank USA also participate in the Company’s own $42 million unsecured revolving credit facility. The Delta Credit Facility was guaranteed, on a secured basis, by certain domestic subsidiaries of Volt Delta.

The Delta Credit Facility permitted U. S. Dollar, British Pound Sterling and Euro borrowings with various interest rate options to be selected by Delta at the time of each borrowing. Certain rate options, together with a facility fee, were based on a leverage ratio. The Delta Credit Facility required Volt Delta to maintain various financial ratios and covenants, and imposed limitations on, among other things, the incurrence of additional indebtedness, the incurrence of additional liens, sales of assets, the level of annual capital expenditures, and the amount of investments and loans that could be made by Volt Delta and its subsidiaries.

Item 9.01	Financial Statements and Exhibits.
(d)	Exhibits:
	99.1	The Company’s press release dated August 12, 2009.

S I G N A T U R E S

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 

		VOLT INFORMATION SCIENCES, INC.
Date:	August 13, 2009	By:	/s/ Jack Egan
			Jack Egan, Senior Vice President       and Chief Financial Officer

EXHIBIT INDEX

Exhibit Number
99.1	The Company’s press release dated August 12, 2009.

EX-99.1

Exhibit 99.1

Volt Information Sciences, Inc. Subsidiary Elects to Prepay and Terminate Credit Facility

New York, New York, August 12, 2009 - Volt Information Sciences, Inc. (NYSE:VOL) (the “Company”) announced today that its subsidiary Volt Delta Resources, LLC (“Volt Delta”) has voluntarily prepaid the $42 million of outstanding borrowings under the $75 million Volt Delta secured credit facility. Further, Volt Delta elected to terminate the facility because no further borrowings were anticipated through its scheduled expiration date in December 2009. The outstanding borrowings were repaid from funds provided by the Company which had excess cash resulting from the sale of the Company’s domestic directory publishing operations in September 2008. Certain foreign denominated borrowings supported by the facility have been transferred to the Company’s unsecured revolving credit facility.

Wells Fargo NA, the administrator and a lender under the terminated facility, as well as three of the other four lenders under the facility, Bank of America, N.A., JPMorgan Chase, and HSBC Bank USA, also participate in the Company’s $42.0 million unsecured revolving credit facility which runs through February 2013. The Company also maintains a separate $175 million trade receivable securitization program. Due to the Company’s strong cash position resulting from both the aforementioned sale of business and the slowdown in the economy, the Company plans to reduce the trade receivable securitization program to $150 million. Even after these changes, the Company will have over $125 million of available borrowing under its continuing facilities. The Company expects to achieve interest expense savings and avoid facility cost increases as a result of these actions.

About Volt Information Sciences, Inc.

Volt Information Sciences, Inc. is a leading provider of global infrastructure solutions in technology, information services and staffing acquisition for its FORTUNE 100 customer base. Operating through an international network of servicing locations, the staffing segment fulfills IT, engineering, administrative, and industrial workforce requirements of its customers, for both professional search and temporary/contingent personnel as well as managed services programs and Recruitment Process Outsourcing (RPO) services. Technology infrastructure services include telecommunications engineering, construction, and installation; central office services; and IT managed services and maintenance. Information-based services are primarily directory assistance, operator services, database management, and directory printing. Visit 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 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. A copy of the Company’s latest Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q, as filed with the Securities and Exchange Commission and the New York Stock Exchange, are available without charge upon request to Volt Information Sciences, Inc., 1600 Stewart Avenue, Westbury, New York 11590, Attention: Shareholder Relations. These and certain other SEC filings 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.

CONTACT: For Volt Information Sciences, Inc.:
Ron Kochman, 212-704-2490	voltinvest@volt.com