The stock of Volt Information Sciences, Inc. (VOLT) gained in the normal trading on Thursday after the company announced results for the 4th quarter and fiscal 2021 in a press release. The stock of VOLT was valued at $3.36, gaining more than 3.38% from the previously closed value.
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Financial Highlights of 4th quarter and Fiscal 2021
- The revenue of the company was $227.8 million. It is an increase of 7.9% from the 4th quarter of 2020. Adjusted revenue of the company grew by 7.7%. Revenue of fiscal 2021 was $885.4 million. It shows an increase of 7.7%incomparison to fiscal 2020. The Adjusted Revenue increased by roughly 7.1%.
- The gross margin in the 4th quarter was 16.8%. It increases 60 basis points compared to the 4th quarter of 2020. The gross margin in fiscal 2021 was 16.2%. It is an increase of 60 basis points compared to fiscal 2020.
- In the 4th quarter, the company reported GAAP Operating Income of $2.3 million. It increases $13.8 million compared to the 4rth quarter of 2020. In fiscal 2021 the company said a GAAP Operating Income of $4.8 million. It is an increase of $34.2 million compared to fiscal 2020.
- The GAAP EPS of the company increased to $0.06 per diluted share in the 4th quarter. In the 4th quarter, they reported a ($0.58) per share. The GAAP EPS of the company increased to $0.06 per diluted share in fiscal 2021. In fiscal 2020 they reported a loss of $1.56 per share.
- In the 4th quarter, the company reported adjusted EBITDA of $6.2 million, which shows a $0.3 million increase yoy. In fiscal 2021 the company reported adjusted EBITDA of $17.8 million.
Effect on the stock
As soon as the company reported its solid financial statement, the stock of VOLT gained in the current market. Investors were taking an interest in its stock due to its potential of going higher in future.
Conclusion
Volt Information Sciences, Inc. (VOLT) reported an excellent financial statement compared to last year’s performance. It depicts that the company is going in the right direction, and if they kept the growth consistent, its stock has the potential to go upward in future.
