ARC Group Worldwide, Inc. Reports Consolidated Earnings Results for the Fourth Quarter and Year Ended June 30, 2017
September 26, 2017 at 04:01 pm EDT
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ARC group worldwide, inc. reported consolidated earnings results for the fourth quarter and year ended June 30, 2017. For the quarter, the company reported sales of $22,147,000 compared with $25,336,000 a year ago. Loss from operations was $10,396,000 compared with income of $410,000 a year ago. Loss before income taxes was $11,625,000 compared with $566,000 a year ago. Net loss from continuing operations was $10,175,000 or 0.56 basic and diluted compared with $1,085,000 or 0.06 basic and diluted a year ago. The decrease in sales was primarily driven by lower MIM and plastics sales, most notably in the firearm and defense sectors. Net loss attributable to the company was $10,296,000 or 0.57 basic and diluted compared with $854,000 or 0.05 basic and diluted a year ago. LBITDA from Continuing Operations was $8,121,000 compared with income of $2,851,000 a year ago. Adjusted loss per share were $0.02 compared with $0.05 a year ago. Adjusted loss was $452,000 compared with income of $951,000 a year ago.
For the full year, the company reported, sales of $99,069,000 compared with $94,124,000 a year ago. Loss from operations was $12,744,000 compared with income of $462,000 a year ago. Loss before income taxes was $16,805,000 compared with $3,816,000 a year ago. Net loss from continuing operations was $14,174,000 or 0.78 basic and diluted compared with $3,325,000 or 0.19 basic and diluted a year ago. Net loss attributable to the company was $10,199,000 or 0.56 basic and diluted compared with $2,314,000 or 0.13 basic and diluted a year ago. Net cash provided by operating activities was $2,850,000 compared with $6,466,000 a year ago. Purchases of property and equipment were $6,641,000 compared with $2,633,000 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.