Volt Information Sciences Inc. (NYSE MKT:VISI) Q3 2019 Earnings Conference Call - Final Transcript

Sep 05, 2019 • 04:30 pm ET

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Volt Information Sciences Inc. (NYSE MKT:VISI) Q3 2019 Earnings Conference Call - Final Transcript

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Presentation
Operator
Operator

Greetings, and welcome to Volt Information Sciences, Inc. Third Quarter 2019 Earnings Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference is being recorded.

I would now like to turn the conference over to your host, Lasse Glassen, Investor Relations.

Executive
Lasse Glassen

Good afternoon, and thank you for joining us today for Volt Information Sciences' fiscal 2019 third quarter earnings conference call. On the call today are Linda Perneau, President and Chief Executive Officer; and Herb Mueller, Senior Vice President and Chief Financial Officer. A question-and-answer session will follow with their prepared remarks.

By now, everyone should have access to the news release, which was issued after the market closed today. If you've not received the release, it's available on Form 8-K filed with the SEC and in the investors section of Volt's website at www.volt.com.

Before beginning our prepared remarks, let me remind you that some of the statements made today will be forward-looking and are made under the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected or implied due to a variety of factors. We refer you to Volt Information Sciences' recent filings with the SEC for a more detailed discussion of the risks that could impact the company's future operating results and financial condition.

Also on today's call, our speakers will reference certain non-GAAP financial measures, which we believe provide useful information for investors. A reconciliation of those measures to GAAP measures is included in the earnings press release issued this afternoon.

With that, it's now my pleasure to turn the call over to Volt's President and CEO, Linda Perneau. Linda?

Executive
Linda Perneau

Thank you, Lasse. Good afternoon, and thank you for joining us today for our fiscal 2019 third quarter earnings conference call. Before we begin today, on behalf of the entire Volt organization, I'd like to express our sincere appreciation to Paul Tomkins.

As we announced several weeks ago, Paul stepped down from his position with the company as Senior Vice President and Chief Financial Officer. This was not a decision that was made lightly and not one made without extensive conversations between Paul and me.

Over the past year, it has become apparent that the company needs this critical position closer to the heart of the business in California and our operations in corporate team. Due to personal reasons, relocating or commuting was not an option for Paul. We were sorry to see him go and recognize that his accomplishments over the past 4.5 years played an instrumental role at Volt.

I personally want to thank Paul for supporting guidance during my transition into Volt. We wish Paul the best in his future endeavors and thank him for his thoughtful leadership and dedication and especially for ensuring a smooth transition of the CFO role. This development provided an opportunity to identify and accomplish public company, industry experienced CFO to add to our team, and we