ARC Group Worldwide, Inc. Announces Consolidated Earnings Results for the First Quarter Ended September 30, 2018
November 14, 2018 at 05:50 pm EST
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ARC Group Worldwide, Inc. announced consolidated earnings results for the first quarter ended September 30, 2018. For the quarter, the company reported sales of $20,566,000 compared to $19,085,000 a year ago. Loss from operations was $24,000 compared to $2,123,000 a year ago. Loss before income taxes was $929,000 compared to $3,136,000 a year ago. Net loss from continuing operations was $964,000 compared to $3,308,000 a year ago. Net loss was $1,696,000 compared to $3,555,000 a year ago. Net loss per common share, basic and diluted from continuing operations was $0.03 compared to $0.02 a year ago. Net loss per common share, basic and diluted attributable to the company was $0.07 compared to $0.20 a year ago. Net cash used in operating activities was $859,000 compared to $1,256,000 a year ago. Purchases of property and equipment was $44,000 compared to $957,000 a year ago. EBITDA from continuing operations was $2,448,000 compared to $356,000 a year ago. Facility EBITDA from continuing operations was $3,281,000 compared to $1,442,000 a year ago. Adjusted loss was $964,000 compared to $3,308,000 a year ago. Adjusted loss per share was $0.04 compared to $0.18 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.
RM2 INTERNATIONAL, INC. 
