ARC Group Worldwide, Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended April 2, 2017
May 16, 2017 at 01:30 am IST
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ARC Group Worldwide, Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended April 2, 2017. For the quarter, the company reported sales of $25,472,000 against $24,885,000 a year ago. The growth in sales was primarily driven by higher MIM sales across multiple industries. Loss before income taxes was $2,661,000 against $802,000 a year ago. Net loss from continuing operations was $2,781,000 or $0.15 per basic and diluted share against $794,000 or $0.04 per basic and diluted share a year ago. Net loss was $2,774,000 against $337,000 a year ago. Net loss income attributable to the company was $2,774,000 or $0.15 per basic and diluted share against $361,000 or $0.02 per basic and diluted share a year ago. EBITDA from continuing operations was $750,000 against $2,694,000 a year ago. Facility EBITDA from continuing operations was $2,027,000 against $3,938,000 a year ago. Adjusted loss was $2,852,000 or $0.16 per share against $704,000 or $0.04 per share a year ago.
For the nine months, the company reported sales of $80,498,000 against $72,353,000 a year ago. Loss before income taxes was $4,762,000 against $2,872,000 a year ago. Net loss from continuing operations was $3,581,000 or $0.19 per basic and diluted share against $2,306,000 or $0.13 per basic and diluted share a year ago. Net profit was $123,000 against net loss of $1,372,000 a year ago. Net profit income attributable to the company was $97,000 or $0.01 per basic and diluted share against net loss attributable to the company of $1,460,000 or $0.08 per basic and diluted share a year ago. Net cash provided by operating activities was $1,514,000 against $3,833,000 a year ago. Purchases of property and equipment were $5,324,000 against $1,918,000 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.