ARC Group Worldwide, Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended October 1, 2017
November 14, 2017 at 02:36 am IST
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ARC Group Worldwide, Inc. reported unaudited consolidated earnings results for the first quarter ended October 1, 2017. For the quarter, the company reported sales of $19,950,000 against $25,712,000 a year ago. Loss from operations was $2,064,000 against income of $179,000 a year ago. Loss before income taxes was $3,113,000 against $2,042,000 a year ago. Net loss from continuing operations was $3,285,000 against $711,000 a year ago. Basic and diluted net loss per share from continuing operations was $0.18 against $0.04 a year ago. Net loss attributable to the company was $3,555,000 against income of $3,581,000 a year ago. Basic and diluted net loss per share was $0.20 against basic and diluted net earnings per share of $0.20 a year ago. Net cash used in operating activities was $1,526,000 against net cash provided by operating activities of $427,000 a year ago. Purchase of plant and equipment was $957,000 against $1,329,000 a year ago. EBITDA from continuing operations was $415,000 against $1,410,000 a year ago. Facility EBITDA from continuing operations was $1,501,000 against $3,550,000 a year ago. Adjusted loss was $2,956,000 or $0.16 per share against adjusted earnings of $377,000 or $0.02 per share for the same period a year ago.
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.