ARC Group Worldwide Posts 33% Revenue Growth in First Quarter FY22
ARC Group Worldwide Posts 33% Revenue Growth in First Quarter FY22
DELAND, FL / ACCESSWIRE / December 10, 2021 / ARC Group Worldwide, Inc. ("ARC" or the "Company"), a leading global provider of advanced manufacturing, today reports its results for the first fiscal quarter ending September 26, 2021. ARC reports large improvements across all major financial metrics for the organization.
佛罗里达州德兰德/ACCESSWIRE/2021年12月10日/全球领先的先进制造供应商ARC集团今天公布了截至2021年9月26日的第一财季业绩。ARC报告了组织在所有主要财务指标上的重大改进。
First Quarter Fiscal Year 2022 Results
2022财年第一季度业绩
- Net sales were $15.2 million, up 32.7% from the prior-year period;
- Gross profit was $3.3 million, up 56.9% from the prior-year period;
- Operating expenses were $1.7 million, up 3.7% from the prior-year period however down 3.2% as a percentage of revenue;
- Income from operations was $1.6 million, up 259.3% from the prior-year period;
- Interest and financing costs were $0.5 million, up 55.7% from the prior-year period;
- EBITDA was $2.9 million, increasing by 57.1%;
- Adjusted EBITDA for the three months ended September 26, 2021 was also $2.9 million. Adjusted EBITDA is a non-GAAP financial measure, which is reconciled to the most directly comparable GAAP financial measure and more fully defined in the enclosed table.
- 净销售额为1520万美元,比上年同期增长32.7%;
- 毛利润为330万美元,比上年同期增长56.9%;
- 营业费用为170万美元,比上年同期增长3.7%,但占收入的比例下降3.2%;
- 业务收入为160万美元,比上年同期增长259.3%;
- 利息和融资费用为50万美元,比上年同期增加55.7%;
- EBITDA为290万美元,增长57.1%;
- 截至2021年9月26日的三个月,调整后的EBITDA也为290万美元。经调整的EBITDA是一项非公认会计准则财务计量,与最直接可比的公认会计准则财务计量相一致,并在所附表格中有更全面的定义。
Quarterly Financial Summary
季度财务摘要
The following analysis is performed over Sales, Gross Profit, and EBITDA from operations for the comparative periods identified unless otherwise noted.
除非另有说明,以下分析是对确定的比较期间的销售额、毛利润和EBITDA进行的。
Fiscal first quarter net sales were $15.2 million, compared to $11.4 million in our fiscal first quarter of 2021. The increase in revenue was driven by a recovery in medical product sales post COVID-19 along with strong growth in turnkey assembled products in the defense sector. Automotive sector revenue remained flat year over year due to continued chip shortages.
第一财季净销售额为1,520万美元,而2021财年第一财季为1,140万美元。收入的增长是由新冠肺炎之后医疗产品销售的复苏以及国防部门交钥匙组装产品的强劲增长推动的。由于芯片持续短缺,汽车行业收入同比持平。
Fiscal first quarter gross profit was $3.3 million, compared to $2.1 million in our fiscal first quarter of 2021. Gross profit increases were primarily driven by increased volume, the return of medical device component sales and operational productivity gains in our Hungarian operations.
第一财季毛利润为330万美元,而2021财年第一财季为210万美元。毛利润的增长主要是由于销量的增加、医疗设备部件销售的恢复以及我们匈牙利业务的运营生产率的提高。
EBITDA was $2.9 million for the fiscal first quarter, compared to $1.8 million in our fiscal first quarter of 2021. The increase was due to the upturn in overall sales, the return to pre-pandemic medical sales levels and overall business productivity improvements.
第一财季的EBITDA为290万美元,而我们2021财年第一季度的EBITDA为180万美元。这一增长是由于总体销售额的上升,恢复到大流行前的医疗销售水平,以及整体业务生产率的提高。
During the quarter ARC generated $2.1 million in cash provided from operating activities and utilized it to pay down long term debts, strengthening balance sheet position.
在本季度,ARC从经营活动中产生了210万美元的现金,并将其用于偿还长期债务,加强了资产负债表的状况。
Mr. Jed Rust, CEO of ARC Group Worldwide said, "There has been a tireless effort on improving our core business. The results continue to indicate that the efforts are yielding meaningful gains on both our financial metrics and customer growth." He went on to say, "I am encouraged by the recovery in the medical industry and am excited to see that segment continue to grow. I also see a renewed sense of focus in the aerospace industries to drive cost out and have found that metal injection molding is providing an excellent solution for our clients and expect extensive growth as a result. While I remain optimistic toward these sectors, we are seeing a slowdown in our defense sector, particularly in plastic injection molding and assemblies. We believe this slowdown will overshadow the gains we are seeing in the alternate sectors for the remainder of the fiscal year."
ARC Group Worldwide首席执行官杰德·拉斯特先生说:“我们一直在不懈地努力改进我们的核心业务。结果继续表明,这些努力在我们的财务指标和客户增长方面都取得了有意义的成果。”他接着说:“我对医疗行业的复苏感到鼓舞,也很高兴看到这一领域继续增长。我还看到航空航天行业重新开始关注降低成本,并发现金属注射成型为我们的客户提供了一个极好的解决方案,并预计其结果是广泛的增长。虽然我对这些行业仍然持乐观态度,但我们看到国防行业的放缓,特别是塑料注射成型和组装。我们相信,这种放缓将掩盖我们在本财年剩余时间里在其他行业看到的收益。”
GAAP to Non-GAAP Reconciliation
GAAP到非GAAP的对账
The Company uses Adjusted EBITDA, a Non-GAAP financial measure as defined by the SEC, as a supplemental profitability measure because management finds it useful to understand and evaluate results, excluding the impact of non-cash depreciation and amortization charges, stock based compensation expenses, and nonrecurring expenses and outlays, prior to consideration of the impact of other potential sources and uses of cash, such as working capital items. This calculation may differ in method of calculation from similarly titled measures used by other companies and may be different than the EBITDA calculation used by our lenders for purposes of determining compliance with financial covenants. This Non-GAAP measure may have limitations when understanding performance as it excludes the financial impact of transactions such as interest expense necessary to conduct the Company's business and therefore is not intended to be an alternative to financial measures prepared in accordance with GAAP. The Company has not quantitatively reconciled its forward looking Adjusted EBITDA target to the most directly comparable GAAP measure because such items such as amortization of stock-based compensation and interest expense, which are specific items that impact these measures, have not yet occurred, are out of the Company's control, or cannot be predicted. For example, quantification of stock-based compensation is not possible as it requires inputs such as future grants and stock prices, which are not currently ascertainable.
公司使用调整后的EBITDA(美国证券交易委员会定义的一种非公认会计准则财务指标)作为盈利能力的补充指标,因为管理层认为,在考虑其他潜在现金来源和使用的影响,如营运资金项目之前,了解和评估业绩是有用的,不包括非现金折旧和摊销费用、基于股票的薪酬费用和非经常性费用和支出的影响。这一计算方法可能与其他公司使用的类似名称的计算方法不同,也可能不同于我们的贷款人为确定是否遵守金融契约而使用的EBITDA计算方法。这一非GAAP衡量标准在了解业绩时可能有局限性,因为它排除了开展公司业务所必需的利息支出等交易的财务影响,因此不打算作为根据GAAP编制的财务衡量标准的替代方案。公司没有将其前瞻性调整后的EBITDA目标与最直接可比的GAAP指标进行量化调整,因为影响这些指标的具体项目,如基于股票的薪酬和利息支出的摊销,尚未发生、不在公司控制范围内,或无法预测。例如,量化基于股票的薪酬是不可能的,因为它需要诸如未来赠款和股票价格等投入,而这些投入目前还不能确定。
Adjusted EBITDA from Continuing Operations, Adjusted Earnings, and Adjusted Earnings Per Share are non-GAAP financial measures. Adjusted EBITDA Margin from Continuing Operations is calculated by dividing EBITDA from Continuing Operations by sales.
持续运营的调整后EBITDA、调整后收益和调整后每股收益都是非GAAP财务指标。调整后的持续业务EBITDA利润率是通过将持续业务的EBITDA除以销售额来计算的。
The reconciliation to GAAP is as follows (dollars in thousands):
与公认会计原则的对账情况如下(以千美元为单位):
Sept. 26, 2021 |
Sept. 27, 2020 |
|||||||
Net Income/(Loss) |
$ | 1,037 | $ | 93 | ||||
Interest expense, net |
509 | 327 | ||||||
Income taxes |
32 | 29 | ||||||
Depreciation and amortization |
1,312 | 1,391 | ||||||
Stock based compensation |
47 | 55 | ||||||
Adjusted EBITDA from Continuing Operations |
$ | 2,937 | $ | 1,895 | ||||
Adjusted EBITDA Margin from Continuing Operations |
19.3 | % | 16.6 | % | ||||
Net Income/(Loss) |
$ | 1,037 | $ | 93 | ||||
Earnings Per Share |
$ | 0.04 | $ | 0.00 | ||||
Weighted Average Common Shares Outstanding |
24,671,623 | 23,548,442 |
9月26、 2021年 |
9月27, 2020年 |
|||||||
净收益/(亏损) |
$ | 1,037 | $ | 93 | ||||
利息支出,净额 |
五百零九 | 327 | ||||||
所得税 |
32位 | 29 | ||||||
折旧及摊销 |
1,312 | 1391 | ||||||
基于股票的薪酬 |
47 | 55 | ||||||
调整后的EBITDA来自持续运营 |
$ | 2937 | $ | 1895 | ||||
调整后的EBITDA持续运营利润率 |
19.3 | 百分比 | 16.6 | 百分比 | ||||
净收益/(亏损) |
$ | 1,037 | $ | 93 | ||||
每股收益 |
$ | 0.04 | $ | 0.00 | ||||
加权平均未偿还普通股 |
24,671,623 | 23,548,442 |
About ARC Group Worldwide, Inc.
ARC集团全球公司简介
ARC Group Worldwide, Inc. (OTCM:ARCW) is a leading global advanced manufacturing service provider. Founded in 1987, the Company offers its customers a compelling portfolio of advanced manufacturing technologies and cutting-edge capabilities to improve the efficiency of traditional manufacturing processes and accelerate their time to market. In addition to being a world leader in metal injection molding, ARC has significant expertise in prototyping, advanced tooling, automation, machining, plastic injection molding, lean manufacturing, and robotics. ARC's mission is to bring innovation and technology to manufacturing. Learn more at arcw.com.
Arc Group Worldwide,Inc.是全球领先的先进制造服务提供商。该公司成立于1987年,为其客户提供极具吸引力的先进制造技术和尖端能力组合,以提高传统制造工艺的效率,加快他们的上市时间。除了在金属注射成型领域处于世界领先地位外,ARC还在原型制造、先进工具、自动化、机械加工、塑料注射成型、精益制造和机器人技术方面拥有丰富的专业知识。ARC的使命是为制造业带来创新和技术。欲了解更多信息,请访问arcw.com。
Forward Looking Statements
前瞻性陈述
This release includes certain forward-looking statements and projections of ARC Group Worldwide, Inc. Such statements are subject to risks and uncertainties that could cause results to differ materially from the Company's expectations. While the Company makes these statements in good faith, neither the Company nor its management can guarantee that anticipated future results will be achieved. The Company assumes no obligation to publicly update or revise any forward-looking statements made herein or any other forward-looking statements made by the Company, whether as a result of new information, future events, or otherwise. All forward-looking statements attributable to the Company or persons acting on the Company's behalf are expressly qualified in their entirety by the foregoing cautionary statements. All such statements speak only as of the date made, and, except as required by law, the Company undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.
本新闻稿包括ARC Group Worldwide,Inc.的某些前瞻性陈述和预测。这些陈述会受到风险和不确定因素的影响,这些风险和不确定因素可能会导致结果与公司的预期大不相同。虽然公司真诚地作出这些声明,但公司及其管理层都不能保证预期的未来结果将会实现。无论是由于新信息、未来事件或其他原因,公司没有义务公开更新或修改本文中的任何前瞻性陈述或公司所作的任何其他前瞻性陈述。所有可归因于公司或代表公司行事的人的前瞻性陈述都明确地受到前述警告性声明的限制。所有这些表述仅在作出之日发表,除法律要求外,公司没有义务公开更新或修改任何前瞻性表述,无论是由于新信息、未来事件或其他原因。
Contact:
联系方式:
Investor Relations
Phone: (303)467-5236
Email: InvestorRelations@arcw.com
投资者关系
电话:(303)467-5236
电子邮件:InvestorRelationship@arcw.com
ARC Group Worldwide, Inc.
ARC集团全球公司
Unaudited Consolidated Statement of Operations
(in thousands, except for share and per share amounts)
未经审计的合并业务报表
(以千为单位,不包括每股和每股金额)
For the three months ended | ||||||||
Sept. 26, | Sept. 27, | |||||||
2021 | 2020 | |||||||
Sales |
$ | 15,189 | $ | 11,442 | ||||
Cost of sales |
11,907 | 9,350 | ||||||
Gross profit |
3,282 | 2,092 | ||||||
Selling, general and administrative |
1,719 | 1,657 | ||||||
Income from operations |
$ | 1,563 | $ | 435 | ||||
Other expense, net |
15 | 14 | ||||||
Interest expense, net |
(509 | ) | (327 | ) | ||||
Income before income taxes |
1,069 | 122 | ||||||
Income tax expense |
(32 | ) | (29 | ) | ||||
Net income |
$ | 1,037 | $ | 93 | ||||
Net income per common share, basic and diluted: |
||||||||
ARC Group Worldwide, Inc. |
$ | 0.04 | $ | 0.00 | ||||
Weighted average common shares outstanding: |
||||||||
Basic and diluted |
24,671,623 | 23,548,442 |
截至以下三个月 | ||||||||
9月26、 | 9月27, | |||||||
2021年 | 2020年 | |||||||
销售额 |
$ | 15,189 | $ | 11,442 | ||||
销售成本 |
11,907 | 9350 | ||||||
毛利 |
3,282 | 2092 | ||||||
销售、一般和行政 |
1,719 | 1,657 | ||||||
营业收入 |
$ | 1,563 | $ | 435 | ||||
其他费用,净额 |
15个 | 14. | ||||||
利息支出,净额 |
(509 | ) | (327 | ) | ||||
所得税前收入 |
1,069 | 一百二十二 | ||||||
所得税费用 |
(32) | ) | (29) | ) | ||||
净收入 |
$ | 1,037 | $ | 93 | ||||
普通股基本和稀释后每股净收益: |
||||||||
ARC集团全球公司 |
$ | 0.04 | $ | 0.00 | ||||
加权平均已发行普通股: |
||||||||
基本的和稀释的 |
24,671,623 | 23,548,442 |
ARC Group Worldwide, Inc.
ARC集团全球公司
Unaudited Consolidated Balance Sheets
(in thousands, except for share and per share amounts)
未经审计的综合资产负债表
(以千为单位,不包括每股和每股金额)
Sept. 26, 2021 | June 30, 2021 | |||||||
ASSETS |
||||||||
Current assets: |
||||||||
Cash |
$ | 1,139 | $ | 2,517 | ||||
Accounts receivable, net |
8,682 | 7,260 | ||||||
Inventories, net |
6,843 | 7,042 | ||||||
Prepaid expenses and other current assets |
1,057 | 2,970 | ||||||
Total current assets |
$ | 17,721 | $ | 19,789 | ||||
Property and equipment, net |
21,857 | 22,769 | ||||||
Right of use assets, net |
735 | 756 | ||||||
Goodwill |
6,412 | 6,412 | ||||||
Intangible assets, net |
4,168 | 4,579 | ||||||
Other |
163 | 167 | ||||||
Total assets |
$ | 51,056 | $ | 54,472 | ||||
LIABILITIES AND STOCKHOLDERS' EQUITY |
||||||||
Current liabilities: |
||||||||
Accounts payable |
2,796 | 4,708 | ||||||
Accrued expenses and other current liabilities |
2,265 | 2,130 | ||||||
Deferred revenue |
1,312 | 893 | ||||||
Current portion of long-term debt, net of unamortized financing costs |
4,404 | 4,413 | ||||||
Operating lease liability, current portion |
64 | 71 | ||||||
Finance lease liability, current portion |
883 | 874 | ||||||
Total current liabilities |
$ | 11,724 | $ | 13,089 | ||||
Long-term debt, net of current portion and net of unamortized financing costs |
18,404 | 21,627 | ||||||
Operating lease liability, net of current portion |
706 | 716 | ||||||
Finance lease liability, net of current portion |
9,524 | 9,732 | ||||||
Other long-term liabilities |
95 | 95 | ||||||
Total liabilities |
$ | 40,453 | $ | 45,259 | ||||
Commitments and contingencies |
||||||||
Stockholders' Equity: |
||||||||
Common stock, $0.0005 par value, 225,000,000 shares authorized; 24,703,307 shares issued and 24,688,376 shares issued and outstanding at September 26, 2021, and 24,486,172 shares issued and 24,477,771 shares issued and outstanding at June 30, 2021 |
13 | 13 | ||||||
Treasury stock, at cost; 14,931 shares at September 26, 2021 and June 30, 2021 |
(94 | ) | (94 | ) | ||||
Additional paid-in capital |
43,554 | 43,226 | ||||||
Accumulated deficit |
(32,689 | ) | (33,726 | ) | ||||
Accumulated other comprehensive loss |
(181 | ) | (206 | ) | ||||
Total stockholders' equity |
10,603 | 9,213 | ||||||
Total liabilities and stockholders' equity |
$ | 51,056 | $ | 54,472 |
9月2021年26日 | 2021年6月30日 | |||||||
资产 |
||||||||
流动资产: |
||||||||
现金 |
$ | 1139 | $ | 2517 | ||||
应收账款净额 |
8,682 | 7260 | ||||||
库存,净额 |
6843 | 7042 | ||||||
预付费用和其他流动资产 |
1,057 | 2970 | ||||||
流动资产总额 |
$ | 17,721 | $ | 19789 | ||||
财产和设备,净额 |
21,857 | 22,769 | ||||||
使用权资产,净额 |
七百三十五 | 七百五十六 | ||||||
商誉 |
6412 | 6412 | ||||||
无形资产,净额 |
4,168 | 4579 | ||||||
其他 |
163 | 一百六十七 | ||||||
总资产 |
$ | 51,056 | $ | 54,472 | ||||
负债和股东权益 |
||||||||
流动负债: |
||||||||
应付帐款 |
2796 | 4,708 | ||||||
应计费用和其他流动负债 |
2265 | 2130 | ||||||
递延收入 |
1,312 | 八百九十三 | ||||||
长期债务的当期部分,扣除未摊销融资成本 |
4,404 | 4413 | ||||||
经营租赁负债,本期部分 |
64 | 71 | ||||||
融资租赁负债,本期部分 |
八百八十三 | 874 | ||||||
流动负债总额 |
$ | 11,724 | $ | 13,089 | ||||
长期债务,扣除当期部分和未摊销融资成本后的净额 |
18,404 | 21,627 | ||||||
经营租赁负债,扣除当期部分 |
七百零六 | 716 | ||||||
融资租赁负债,扣除当期部分 |
9524 | 9732 | ||||||
其他长期负债 |
95 | 95 | ||||||
总负债 |
$ | 40,453 | $ | 45,259 | ||||
承付款和或有事项 |
||||||||
股东权益: |
||||||||
普通股,面值0.0005美元,授权发行2.25亿股;截至2021年9月26日,已发行24,703,307股,已发行和已发行24,688,376股;截至2021年6月30日,已发行24,486,172股,已发行和已发行24,477,771股 |
13个 | 13个 | ||||||
库存股,按成本计算;2021年9月26日和2021年6月30日的14,931股 |
(94) | ) | (94) | ) | ||||
额外实收资本 |
43,554 | 43,226 | ||||||
累计赤字 |
(32,689 | ) | (33,726 | ) | ||||
累计其他综合损失 |
(181 | ) | (206) | ) | ||||
Total stockholders' equity |
10,603 | 9213 | ||||||
总负债和股东权益 |
$ | 51,056 | $ | 54,472 |
ARC Group Worldwide, Inc.
ARC集团全球公司
Unaudited Consolidated Statement of Cash Flows
(in thousands)
未经审计的现金流量表
(in thousands)
For the three months ended | ||||||||
Cash flows from operating activities: |
Sept. 26, 2021 |
Sept. 27, 2020 |
||||||
Net income |
$ | 1,037 | $ | 93 | ||||
Adjustments to reconcile net income to net cash provided by operating activities: |
||||||||
Depreciation and amortization |
1,312 | 1,391 | ||||||
Share-based compensation expense |
47 | 54 | ||||||
Amortization of debt discount |
51 | - | ||||||
Bad debt expense and other |
4 | 4 | ||||||
Changes in operating assets and liabilities: |
||||||||
Accounts receivable |
(1,422 | ) | (869 | ) | ||||
Inventory |
199 | (1,174 | ) | |||||
Prepaid expenses and other assets |
1,917 | 404 | ||||||
Accounts payable |
(1,912 | ) | 1,192 | |||||
Accrued expenses and other liabilities |
416 | (1,611 | ) | |||||
Deferred revenue |
433 | 933 | ||||||
Net cash provided by operating activities |
2,082 | 417 | ||||||
Cash flows from investing activities: |
||||||||
Purchases of property and equipment |
(4 | ) | (408 | ) | ||||
Net cash used in investing activities |
(4 | ) | (408 | ) | ||||
Cash flows from financing activities: |
||||||||
Proceeds from debt issuance |
15,737 | 4,644 | ||||||
Repayments of long-term debt and capital lease obligations |
(19,191 | ) | (5,641 | ) | ||||
Net cash used in financing activities |
(3,454 | ) | (997 | ) | ||||
Effect of exchange rates on cash |
(2 | ) | (23 | ) | ||||
Net decrease in cash |
(1,378 | ) | (1,011 | ) | ||||
Cash, beginning of quarter |
2,517 | 3,942 | ||||||
Cash, end of quarter |
$ | 1,139 | $ | 2,931 | ||||
Supplemental disclosures of cash flow information: |
||||||||
Cash paid for interest |
$ | 215 | $ | 152 | ||||
Cash paid for income taxes, net of refunds |
$ | 3 | $ | - |
截至以下三个月 | ||||||||
经营活动的现金流: |
9月26、 2021年 |
9月27, 2020年 |
||||||
净收入 |
$ | 1,037 | $ | 93 | ||||
将净收入与经营活动提供的现金净额进行调整: |
||||||||
折旧及摊销 |
1,312 | 1391 | ||||||
基于股份的薪酬费用 |
47 | 54 | ||||||
债务贴现摊销 |
51 | - | ||||||
坏账支出和其他 |
4. | 4. | ||||||
经营性资产和负债变动情况: |
||||||||
应收账款 |
(1,422 | ) | (869) | ) | ||||
库存 |
一百九十九 | (1,174 | ) | |||||
预付费用和其他资产 |
1917 | 404 | ||||||
应付帐款 |
(1,912 | ) | 1192 | |||||
应计费用和其他负债 |
四百一十六 | (1,611 | ) | |||||
递延收入 |
四百三十三 | 933 | ||||||
经营活动提供的净现金 |
2082 | 417 | ||||||
投资活动产生的现金流: |
||||||||
购置财产和设备 |
(4 | ) | (408) | ) | ||||
用于投资活动的现金净额 |
(4 | ) | (408) | ) | ||||
融资活动的现金流: |
||||||||
发行债券所得款项 |
15,737 | 4644 | ||||||
偿还长期债务和资本租赁债务 |
(19,191 | ) | (5641 | ) | ||||
用于融资活动的现金净额 |
(3,454 | ) | (997 | ) | ||||
汇率对现金的影响 |
(2 | ) | (23) | ) | ||||
现金净减少 |
(1,378 | ) | (1,011 | ) | ||||
季初现金 |
2517 | 3942 | ||||||
季度末现金 |
$ | 1139 | $ | 2931 | ||||
现金流量信息的补充披露: |
||||||||
支付利息的现金 |
$ | 215 | $ | 一百五十二 | ||||
支付所得税的现金,扣除退款后的净额 |
$ | 3. | $ | - |
SOURCE: ARC Group Worldwide, Inc.
资料来源:ARC集团全球公司