ARC Group Worldwide, Inc. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended December 31, 2017; Provides Earnings Guidance for the Year 2018
February 09, 2018 at 04:35 pm
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ARC Group Worldwide, Inc. announced unaudited consolidated earnings results for the second quarter and six months ended December 31, 2017. For the quarter, the company reported sales of $18,354,000 compared to $27,009,000 a year ago. The decrease in revenue was primarily driven by lower metal injection molding and plastics sales, the combination of reduced sales and delayed orders by customers in the firearm and defense markets. Loss from operations was $3,922,000 compared to $156,000 a year ago. Loss before income taxes was $4,682,000 compared to $349,000 a year ago. Net loss from continuing operations was $4,316,000 or $0.24 per basic and diluted share compared to $379,000 or $0.02 per basic and diluted share a year ago. Net loss attributable to the company was $4,322,000 or $0.24 per basic and diluted share compared to $710,000 or $0.04 per basic and diluted share a year ago. LBITDA from continuing operations was $1,221,000 compared to EBITDA from continuing operations of $3,179,000 a year ago. Facility LBITDA from continuing operations was $148,000 compared to facility EBITDA from continuing operations of $3,337,000 a year ago. Adjusted loss was $4,230,000 or $0.23 per share compared to $350,000 or $0.02 per share a year ago.
For the six months, the company reported sales of $38,304,000 compared to $52,722,000 a year ago. Loss from operations was $5,985,000 compared to $334,000 a year ago. Loss before income taxes was $7,794,000 compared to $2,390,000 a year ago. Net loss from continuing operations was $7,600,000 or $0.42 per basic and diluted share compared to $1,089,000 or $0.06 per basic and diluted share a year ago. Net loss attributable to the company was $7,876,000 or $0.43 per basic and diluted share compared to income of $2,871,000 or $0.16 per basic and diluted share a year ago. Net cash used in operating activities was $1,665,000 compared to $496,000 a year ago. Purchases of property and equipment were $1,500,000 compared to $2,901,000 a year ago.
The company expects profitability and cash flow generation to improve throughout calendar year 2018.
RM2 International, Inc. is the owner and operator of the BLOCKPal, a technologically advanced, composite pallet. The Company provides its customers with end-to-end logistics Intelligence Optimization & Tracking (RM2 ELIoT) Internet of Things (IoT) technology for pallet traceability, delivering real-time actionable insights and data to improve the supply chain visibility to the manufacturing and distribution businesses it serves. The BLOCKPal pallets are provided to customers across a range of industries, with a particular focus on those where hygiene and traceability are of critical importance. Its IoT sensor data are transmitted to the cloud via the long-term evolution-machine (LTE-M) network, making visible the palletâs location and condition both indoors and in transit without requiring any additional hardware or information technology (IT) development. The Companyâs RM2 ELIoT is a cloud-based supply chain intelligence platform. It issues more than 1.5 million pallets annually.
ARC Group Worldwide, Inc. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended December 31, 2017; Provides Earnings Guidance for the Year 2018