FORM 12b-25

If the notification relates to a portion of the filing checked above, identify the Item(s) to which the notification relates:

 

Part I - Registrant Information

VOLT INFORMATION SCIENCES, INC.

Full Name of Registrant

 

Former Name if Applicable

1600 Stewart Avenue

Address of Principal Executive Office (Street and Number)

Westbury, New York 11590

City, State and Zip Code

Part II - Rules 12b-25(b) and (c)

If the subject report could not be filed without unreasonable effort or expense and the registrant seeks relief pursuant to Rule 12b-25(b), the following should be completed.(Check box if appropriate.)

Part III - Narrative

State below in reasonable detail why Forms 10-K, 20-F, 11-K, 10-Q,10-D, N-SAR, N-CSR, or the transition report or portion thereof, could not be filed within the prescribed time period.

As previously reported in a Current Report on Form 8-K and Form 12b-25, each filed with the Securities and Exchange Commission (the “SEC”) on January 15, 2010, Volt Information Sciences, Inc. (the “Company”) is delayed in filing its Annual Report on Form 10-K for the year ended November 1, 2009 because it will restate its financial statements as at and for its fiscal years ended October 28, 2007 and November 2, 2008 that were included in the Company’s Annual Reports on Form 10-K for those years. The Company will also restate the condensed consolidated financial statements for quarterly periods through May 3, 2009 contained in the Company’s previously filed Quarterly Reports on Form 10-Q, including for the quarter ended February 1, 2009. The Company has not determined whether any restatements of periods prior to fiscal 2007 will be required.

In order to be in a position to prepare financial statements for the quarter ended January 31, 2010 and restate its financial statements for the comparable quarter ended February 1, 2009, the Company must first prepare and finalize balance sheets as at November 1, 2009 and November 2, 2008, the end of its last two fiscal years, which entails completing the restatement of the financial statements discussed above.

As a result, the Company’s Quarterly Report on Form 10-Q for the quarter ended January 31, 2010 cannot, without unreasonable effort and expense, be filed before its March 12, 2010 due date, nor can it be filed by March 17, 2010, the extended due date of such report. The Company and its advisors are working expeditiously to complete the restatement process and make the related filings, but the Company, at this time, is unable to determine when it will file the reports referred to above, including its Quarterly Report on Form 10-Q for the quarter ended January 31, 2010.

Part IV - Other Information

1. Name and telephone number of person to contact in regard to this notification

   Jack Egan	212	704-7970
   (Name)	(Area Code)	(Telephone Number)

2. Have all other periodic reports required under Section 13 or 15(d) of the Securities Exchange Act of 1934 or Section 30 of the Investment Company Act of 1940 during the preceding 12 months or for such shorter period that the registrant was required to file such report(s) been filed?

   Yes

   No

   √

   If answer is no, identify report(s).

   The Company has not filed its Quarterly Report on Form 10-Q for the quarter ended August 2, 2009 nor Annual Report on Form 10-K for the year ended November 1, 2009, and, as noted above, will restate various other reports.

3. Is it anticipated that any significant change in results of operations from the corresponding period for the last fiscal year will be reflected by the earnings statements to be included in the subject report or portion thereof?

   Yes

   √

   No

   If so, attach an explanation of the anticipated change, both narratively and quantitatively, and, if appropriate, state the reasons why a reasonable estimate of the results cannot be made.

   The Company anticipates reporting a significant change in its results of operations for the fiscal quarter ended January 31, 2010 compared to the fiscal quarter ended February 1, 2009. Reported results for the fiscal quarter ended February 1, 2009 included impairment and restructuring charges of $7.0 million, net of taxes, or $0.33 per share (the impairment charge may be revised as a result of the pending restatements). This item will significantly affect the comparability of the results of operations for the first quarter of fiscal 2010 to the results of operations for the first quarter of fiscal 2009.
   It is not possible to make a reasonable estimate of the Company’s consolidated results of operations for either fiscal quarter until the Company determines how each quarter will be impacted by the restatements described above and the amount of such impact.
   The Company’s cash and cash equivalents, excluding restricted cash, were approximately $135.0 million as of January 31, 2010 compared to $134.7 million at February 1, 2009, while total borrowings were approximately $85.0 million at January 31, 2010 compared to $129.3 million at February 1, 2009. The maintenance of the level of cash, despite the reduction in debt, resulted primarily from the collection of, and reduced level of, accounts receivable.