September 26, 2017 / 9:17 PM / a year ago

BRIEF-ARC Group worldwide announces qtrly ‍loss per share $0.57​

Sept 26 (Reuters) - ARC Group Worldwide Inc

* ARC Group worldwide announces initial results from strategic operating review and reports fiscal year fourth quarter 2017 financial results

* Q4 adjusted loss per share $0.02

* Q4 revenue $22.1 million

* Qtrly ‍loss per share $0.57​

* ARC Group Worldwide Inc - As a result of operational review, headcount reductions and other cost-reducing measures were implemented

* ARC Group Worldwide Inc says operational review was conducted at all ARC business units​

* ARC Group - Cost savings under review estimated to have eliminated or otherwise prohibited going forward about $6.0 million in annualized costs​

* ARC Group Worldwide - As result of operational review, also elected to exit products, projects that were deemed "either low margin or currently unprofitable"​

* ARC Group Worldwide Inc - Concluded that goodwill was impaired at its ATC and Kecy subsidiaries, recording a non-cash impairment charge of $3.3 million​

* ARC Group Worldwide Inc - ‍Company continues to evaluate further measures on an ongoing basis​

* ARC Group Worldwide Inc - ARC also revised, and "placed greater executive oversight over, company's tooling pricing strategy"​

* ARC Group Worldwide Inc - Co divested assets of its flange subsidiary for $3.0 million on September 15

* ARC Group Worldwide Inc - ‍Company continues to evaluate further strategic measures on an ongoing basis​

* ARC Group Worldwide Inc - ‍Initiated a strategic review of all operating and other assets in connection with a "refocus towards ARC's core capabilities"

* ARC Group Worldwide sees fiscal year 2018 3D revenues to continue to grow at recent pace, implying a doubling of 3D revenue in fiscal year 2018

* ARC Group Worldwide Inc - ‍As per strategic review, operations at company's unprofitable Mexico operation were ceased during July ​

* ARC Group Worldwide Inc - Due to decision to exit certain products and projects, ‍incurred non-cash charges of $3.1 million

* ARC Group Worldwide - Wrote off tools, inventory, associated parts totaling $1.9 million in connection with decision to exit unprofitable products, projects​ Source text for Eikon: Further company coverage:

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