(PRNewswire) — ARC Document Solutions, Inc. (NYSE: ARC), a leading document solutions provider to design, engineering, construction, and facilities management professionals, today reported its financial results for the third quarter ended September 30, 2017.
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Financial Highlights: |
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Three Months Ended |
Nine Months Ended |
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September 30, |
September 30, |
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(All dollar amounts in millions, except EPS) |
2017 |
2016 |
2017 |
2016 |
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Net Sales |
$ |
96.5 |
$ |
100.4 |
$ |
297.5 |
$ |
307.8 |
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Gross Margin |
30.3 |
% |
32.6 |
% |
31.8 |
% |
33.4 |
% |
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Goodwill impairment |
$ |
17.6 |
$ |
— |
$ |
17.6 |
$ |
73.9 |
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Net (loss) income attributable to ARC |
$ |
(14.8) |
$ |
2.8 |
$ |
(9.4) |
$ |
(50.5) |
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Adjusted net income attributable to ARC |
$ |
0.4 |
$ |
3.0 |
$ |
5.9 |
$ |
10.5 |
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Earnings per share - Diluted |
$ |
(0.32) |
$ |
0.06 |
$ |
(0.20) |
$ |
(1.10) |
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Adjusted earnings per share - Diluted |
$ |
0.01 |
$ |
0.07 |
$ |
0.13 |
$ |
0.23 |
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Cash provided by operating activities |
$ |
11.3 |
$ |
12.2 |
$ |
36.8 |
$ |
34.0 |
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EBITDA |
$ |
(7.0) |
$ |
14.4 |
$ |
21.9 |
$ |
(28.1) |
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Adjusted EBITDA |
$ |
11.5 |
$ |
15.1 |
$ |
42.1 |
$ |
48.1 |
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Capital Expenditures |
$ |
2.3 |
$ |
2.4 |
$ |
7.2 |
$ |
7.6 |
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Debt & Capital Leases (including current), net of unamortized deferred financing fees |
$ |
149.2 |
$ |
158.9 |
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