-----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, VL1TSiCgLYWHeNLzqTQLyY8oS6mdCGvFYhv/GKN2LjjnE1n5+B06LYABzIEiXvd6 lGfoo+EtrmFSz7zVTrjVwQ== 0001157523-04-004112.txt : 20040429 0001157523-04-004112.hdr.sgml : 20040429 20040429125742 ACCESSION NUMBER: 0001157523-04-004112 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20040429 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20040429 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: 04763688 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 a4628878.txt VOLT INFORMATION 8K 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): April 27, 2004 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 and Required FD Disclosure. On April 27, 2004, the Company issued a press release announcing its expanded financing facilities. A copy of the press release is attached as Exhibit 99.1 and is incorporated herein by reference. 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 April 27, 2004. 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 April 28, 2004 By: /s/ James J. Groberg ---------------------------------------- James J. Groberg, Senior Vice President EXHIBIT INDEX Exhibit Number Description - ------- ----------- 99.1 Volt Information Sciences, Inc. Press Release dated April 27, 2004 EX-99.1 2 a4628878ex991.txt VOLT INFORMATION EXPANDED FIN. PACKAGE Exhibit 99.1 Volt Information Sciences Announces Expanded Financing Package NEW YORK--(BUSINESS WIRE)--April 27, 2004--Volt Information Sciences, Inc. (NYSE: VOL) announced today the closing of its expanded financing facilities. The Company increased the maximum capacity of its accounts receivable securitization program from $100 million to $150 million and extended the term of the program by one year to April 2006. Under the securitization program, certain receivables of the Company's Staffing segment are sold from time to time to Volt Funding Corp, a wholly owned special purpose subsidiary of the Company, which in turn sells interests in the receivables to Three Rivers Funding Corporation ("TRFC"), an asset backed commercial paper conduit sponsored by Mellon Financial Markets, LLC. Volt Funding is a 100% owned consolidated subsidiary of the Company, with accounts receivables only reduced to reflect the fair value of the interests actually sold to TRFC. The Company currently utilizes $50 million of the program. The Company also entered into a $30 million 364 day, secured, syndicated revolving credit agreement subject to substantially the same terms and covenants as the expiring two year $40 million agreement. The receivables used as collateral for this facility are from subsidiaries other than those in the securitization program. JP Morgan Chase Bank is the administrative agent and arranger for the facility with Mellon Bank, NA, Wells Fargo, NA, and Lloyds TSB Bank PLC also participating. The Company currently has no outstanding borrowings under this facility. "We believe that these facilities will provide us with the resources necessary to finance our foreseeable working capital and other funding requirements while maintaining our low cost of financing," commented William Shaw, Chairman and President of the Company. 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 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. Copies 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., 560 Lexington Avenue, New York, New York 10022, 212-704-2400, Attention: Shareholder Relations. 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. CONTACT: Volt Information Sciences James J. Groberg and Ron Kochman, 212-704-2400 voltinvest@volt.com -----END PRIVACY-ENHANCED MESSAGE-----