Volt Information Sciences Inc (NYSE:VOLT) Q4 2019 Earnings Conference Call - Final Transcript

Jan 15, 2020 • 05:00 pm ET


Volt Information Sciences Inc (NYSE:VOLT) Q4 2019 Earnings Conference Call - Final Transcript


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Linda Perneau


While our quarterly performance is not likely to be linear for 2020, we do expect to see substantial progress as a result of our strategic transformation and a substantial improvement in profitability. Given our focus on securing higher margin business, it is likely our progress will show up faster on the bottom line, rather than in top line results. Our longer-term goals include top line growth following a transition period while our strategies have time to take full effect. Last but not least, the recent efforts to transform our back office operations including our IT platforms will drive more efficiencies for our clients, our candidates and our internal operations.

Over the next three years, we believe our strategies will allow us to achieve a targeted adjusted EBITDA margin goal of 3%. The steps to reach this goal include the continued mix shift within our revenue base to higher margin business, garnering greater operational efficiencies, successfully maintaining pricing discipline and greater operating leverage across our business. We expect to see adjusted EBITDA margin improvement during each of the next three years and the pace of improvement will accelerate as we resume revenue growth and gain operating leverage. Overall, I'm optimistic about fiscal 2020 and our future.

Before we open up the call to take questions, I'd like to take a moment to thank all of our employees at each of our business units for their hard work and dedication to Volt. Their contributions are vitally important and we are proud of the progress made in 2019 and their motivation to take even greater strides in 2020.

Now, I would like to open up the call for questions. Operator?