ARC Group Worldwide (ARCW) Reports In-Line Q3 EPS

ARC Group Worldwide (NASDAQ: ARCW) reported Q3 EPS of $0.02, in-line with the analyst estimate of $0.02. Revenue for the quarter came in at $27.9 million versus the consensus estimate of $28 million.

Jason Young, Chairman and CEO, commented, "In the third quarter, despite significant pressure from the dramatic decrease in the Euro, a decline in steel scrap prices, depressed firearm orders, and order delays due to the west coast port dispute, we were able to grow revenue and increase margins. In particular, we have been encouraged by the momentum in our 3DMT Group, where we expect continued improvement. While the operating environment remains challenging, and we continue to invest in our sales and R&D efforts, we expect to continue to grow and expand Facility EBITDA and related margins over time. In April, we raised net cash proceeds of $15.6 million from our equity offering, which has lowered pro forma net senior debt to approximately $39.5 million1. Separately, we are considering a number of exciting acquisition opportunities which offer the potential for tremendous synergy and growth. We will evaluate these potential options, and any related financing, cognizant with the fact that our primary objective is to grow our existing businesses' sales and profitability, as well as to further develop and monetize our investments in metal 3D printing. Overall, having just expanded and strengthened our institutional shareholder base, we remain committed to creating value for our shareholders and liquidity in our stock. Further, we remain optimistic regarding the long term prospects of our approach to advanced manufacturing through the combination of additive and subtractive processes."

For earnings history and earnings-related data on ARC Group Worldwide (ARCW) click here.

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