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.