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.
佛羅裡達州德蘭德/ACCESSWIRE/2021年12月10日/全球領先的先進製造供應商ARC集團今天公佈了截至2021年9月26日的第一財季業績。ARC報告了組織在所有主要財務指標上的重大改進。
First Quarter Fiscal Year 2022 Results
2022財年第一季度業績
- 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.
- 淨銷售額為1520萬美元,比上年同期增長32.7%;
- 毛利潤為330萬美元,比上年同期增長56.9%;
- 營業費用為170萬美元,比上年同期增長3.7%,但佔收入的比例下降3.2%;
- 業務收入為160萬美元,比上年同期增長259.3%;
- 利息和融資費用為50萬美元,比上年同期增加55.7%;
- EBITDA為290萬美元,增長57.1%;
- 截至2021年9月26日的三個月,調整後的EBITDA也為290萬美元。經調整的EBITDA是一項非公認會計準則財務計量,與最直接可比的公認會計準則財務計量相一致,並在所附表格中有更全面的定義。
Quarterly Financial Summary
季度財務摘要
The following analysis is performed over Sales, Gross Profit, and EBITDA from operations for the comparative periods identified unless otherwise noted.
除非另有說明,以下分析是對確定的比較期間的銷售額、毛利潤和EBITDA進行的。
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.
第一財季淨銷售額為1,520萬美元,而2021財年第一財季為1,140萬美元。收入的增長是由新冠肺炎之後醫療產品銷售的復甦以及國防部門交鑰匙組裝產品的強勁增長推動的。由於晶片持續短缺,汽車行業收入同比持平。
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.
第一財季毛利潤為330萬美元,而2021財年第一財季為210萬美元。毛利潤的增長主要是由於銷量的增加、醫療設備部件銷售的恢復以及我們匈牙利業務的運營生產率的提高。
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.
第一財季的EBITDA為290萬美元,而我們2021財年第一季度的EBITDA為180萬美元。這一增長是由於總體銷售額的上升,恢復到大流行前的醫療銷售水準,以及整體業務生產率的提高。
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從經營活動中產生了210萬美元的現金,並將其用於償還長期債務,加強了資產負債表的狀況。
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首席執行官傑德·拉斯特先生說:“我們一直在不懈地努力改進我們的核心業務。結果繼續表明,這些努力在我們的財務指標和客戶增長方面都取得了有意義的成果。”他接著說:“我對醫療行業的復甦感到鼓舞,也很高興看到這一領域繼續增長。我還看到航空航太行業重新開始關注降低成本,併發現金屬注射成型為我們的客戶提供了一個極好的解決方案,並預計其結果是廣泛的增長。雖然我對這些行業仍然持樂觀態度,但我們看到國防行業的放緩,特別是塑料注射成型和組裝。我們相信,這種放緩將掩蓋我們在本財年剩餘時間裡在其他行業看到的收益。”
GAAP to Non-GAAP Reconciliation
GAAP到非GAAP的對賬
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.
公司使用調整後的EBITDA(美國證券交易委員會定義的一種非公認會計準則財務指標)作為盈利能力的補充指標,因為管理層認為,在考慮其他潛在現金來源和使用的影響,如營運資金專案之前,瞭解和評估業績是有用的,不包括非現金折舊和攤銷費用、基於股票的薪酬費用和非經常性費用和支出的影響。這一計算方法可能與其他公司使用的類似名稱的計算方法不同,也可能不同於我們的貸款人為確定是否遵守金融契約而使用的EBITDA計算方法。這一非GAAP衡量標準在瞭解業績時可能有侷限性,因為它排除了開展公司業務所必需的利息支出等交易的財務影響,因此不打算作為根據GAAP編制的財務衡量標準的替代方案。公司沒有將其前瞻性調整後的EBITDA目標與最直接可比的GAAP指標進行量化調整,因為影響這些指標的具體專案,如基於股票的薪酬和利息支出的攤銷,尚未發生、不在公司控制範圍內,或無法預測。例如,量化基於股票的薪酬是不可能的,因為它需要諸如未來贈款和股票價格等投入,而這些投入目前還不能確定。
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.
持續運營的調整後EBITDA、調整後收益和調整後每股收益都是非GAAP財務指標。調整後的持續業務EBITDA利潤率是通過將持續業務的EBITDA除以銷售額來計算的。
The reconciliation to GAAP is as follows (dollars in thousands):
與公認會計原則的對賬情況如下(以千美元為單位):
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 |
|||||||
淨收益/(虧損) |
$ | 1,037 | $ | 93 | ||||
利息支出,淨額 |
五百零九 | 327 | ||||||
所得稅 |
32位 | 29 | ||||||
折舊及攤銷 |
1,312 | 1391 | ||||||
基於股票的薪酬 |
47 | 55 | ||||||
調整後的EBITDA來自持續運營 |
$ | 2937 | $ | 1895 | ||||
調整後的EBITDA持續運營利潤率 |
19.3 | 百分比 | 16.6 | 百分比 | ||||
淨收益/(虧損) |
$ | 1,037 | $ | 93 | ||||
每股收益 |
$ | 0.04 | $ | 0.00 | ||||
加權平均未償還普通股 |
24,671,623 | 23,548,442 |
About ARC Group Worldwide, Inc.
ARC集團全球公司簡介
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.是全球領先的先進製造服務提供商。該公司成立於1987年,為其客戶提供極具吸引力的先進製造技術和尖端能力組合,以提高傳統制造工藝的效率,加快他們的上市時間。除了在金屬注射成型領域處於世界領先地位外,ARC還在原型製造、先進工具、自動化、機械加工、塑料注射成型、精益製造和機器人技術方面擁有豐富的專業知識。ARC的使命是為製造業帶來創新和技術。欲瞭解更多資訊,請訪問arcw.com。
Forward Looking Statements
前瞻性陳述
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.
本新聞稿包括ARC Group Worldwide,Inc.的某些前瞻性陳述和預測。這些陳述會受到風險和不確定因素的影響,這些風險和不確定因素可能會導致結果與公司的預期大不相同。雖然公司真誠地作出這些聲明,但公司及其管理層都不能保證預期的未來結果將會實現。無論是由於新資訊、未來事件或其他原因,公司沒有義務公開更新或修改本文中的任何前瞻性陳述或公司所作的任何其他前瞻性陳述。所有可歸因於公司或代表公司行事的人的前瞻性陳述都明確地受到前述警告性聲明的限制。所有這些表述僅在作出之日發表,除法律要求外,公司沒有義務公開更新或修改任何前瞻性表述,無論是由於新資訊、未來事件或其他原因。
Contact:
聯繫方式:
Investor Relations
Phone: (303)467-5236
Email: InvestorRelations@arcw.com
投資者關係
電話:(303)467-5236
電子郵件:InvestorRelationship@arcw.com
ARC Group Worldwide, Inc.
ARC集團全球公司
Unaudited Consolidated Statement of Operations
(in thousands, except for share and per share amounts)
未經審計的合併業務報表
(以千為單位,不包括每股和每股金額)
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 |
截至以下三個月 | ||||||||
9月26、 | 9月27, | |||||||
2021年 | 2020年 | |||||||
銷售額 |
$ | 15,189 | $ | 11,442 | ||||
銷售成本 |
11,907 | 9350 | ||||||
毛利 |
3,282 | 2092 | ||||||
銷售、一般和行政 |
1,719 | 1,657 | ||||||
營業收入 |
$ | 1,563 | $ | 435 | ||||
其他費用,淨額 |
15個 | 14. | ||||||
利息支出,淨額 |
(509 | ) | (327 | ) | ||||
所得稅前收入 |
1,069 | 一百二十二 | ||||||
所得稅費用 |
(32) | ) | (29) | ) | ||||
淨收入 |
$ | 1,037 | $ | 93 | ||||
普通股基本和稀釋後每股淨收益: |
||||||||
ARC集團全球公司 |
$ | 0.04 | $ | 0.00 | ||||
加權平均已發行普通股: |
||||||||
基本的和稀釋的 |
24,671,623 | 23,548,442 |
ARC Group Worldwide, Inc.
ARC集團全球公司
Unaudited Consolidated Balance Sheets
(in thousands, except for share and per share amounts)
未經審計的綜合資產負債表
(以千為單位,不包括每股和每股金額)
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 | |||||||
資產 |
||||||||
流動資產: |
||||||||
現金 |
$ | 1139 | $ | 2517 | ||||
應收賬款淨額 |
8,682 | 7260 | ||||||
庫存,淨額 |
6843 | 7042 | ||||||
預付費用和其他流動資產 |
1,057 | 2970 | ||||||
流動資產總額 |
$ | 17,721 | $ | 19789 | ||||
財產和設備,淨額 |
21,857 | 22,769 | ||||||
使用權資產,淨額 |
七百三十五 | 七百五十六 | ||||||
商譽 |
6412 | 6412 | ||||||
無形資產,淨額 |
4,168 | 4579 | ||||||
其他 |
163 | 一百六十七 | ||||||
總資產 |
$ | 51,056 | $ | 54,472 | ||||
負債和股東權益 |
||||||||
流動負債: |
||||||||
應付帳款 |
2796 | 4,708 | ||||||
應計費用和其他流動負債 |
2265 | 2130 | ||||||
遞延收入 |
1,312 | 八百九十三 | ||||||
長期債務的當期部分,扣除未攤銷融資成本 |
4,404 | 4413 | ||||||
經營租賃負債,本期部分 |
64 | 71 | ||||||
融資租賃負債,本期部分 |
八百八十三 | 874 | ||||||
流動負債總額 |
$ | 11,724 | $ | 13,089 | ||||
長期債務,扣除當期部分和未攤銷融資成本後的淨額 |
18,404 | 21,627 | ||||||
經營租賃負債,扣除當期部分 |
七百零六 | 716 | ||||||
融資租賃負債,扣除當期部分 |
9524 | 9732 | ||||||
其他長期負債 |
95 | 95 | ||||||
總負債 |
$ | 40,453 | $ | 45,259 | ||||
承付款和或有事項 |
||||||||
股東權益: |
||||||||
普通股,面值0.0005美元,授權發行2.25億股;截至2021年9月26日,已發行24,703,307股,已發行和已發行24,688,376股;截至2021年6月30日,已發行24,486,172股,已發行和已發行24,477,771股 |
13個 | 13個 | ||||||
庫存股,按成本計算;2021年9月26日和2021年6月30日的14,931股 |
(94) | ) | (94) | ) | ||||
額外實收資本 |
43,554 | 43,226 | ||||||
累計赤字 |
(32,689 | ) | (33,726 | ) | ||||
累計其他綜合損失 |
(181 | ) | (206) | ) | ||||
Total stockholders' equity |
10,603 | 9213 | ||||||
總負債和股東權益 |
$ | 51,056 | $ | 54,472 |
ARC Group Worldwide, Inc.
ARC集團全球公司
Unaudited Consolidated Statement of Cash Flows
(in thousands)
未經審計的現金流量表
(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 | $ | - |
截至以下三個月 | ||||||||
經營活動的現金流: |
9月26、 2021年 |
9月27, 2020年 |
||||||
淨收入 |
$ | 1,037 | $ | 93 | ||||
將淨收入與經營活動提供的現金淨額進行調整: |
||||||||
折舊及攤銷 |
1,312 | 1391 | ||||||
基於股份的薪酬費用 |
47 | 54 | ||||||
債務貼現攤銷 |
51 | - | ||||||
壞賬支出和其他 |
4. | 4. | ||||||
經營性資產和負債變動情況: |
||||||||
應收賬款 |
(1,422 | ) | (869) | ) | ||||
庫存 |
一百九十九 | (1,174 | ) | |||||
預付費用和其他資產 |
1917 | 404 | ||||||
應付帳款 |
(1,912 | ) | 1192 | |||||
應計費用和其他負債 |
四百一十六 | (1,611 | ) | |||||
遞延收入 |
四百三十三 | 933 | ||||||
經營活動提供的淨現金 |
2082 | 417 | ||||||
投資活動產生的現金流: |
||||||||
購置財產和設備 |
(4 | ) | (408) | ) | ||||
用於投資活動的現金淨額 |
(4 | ) | (408) | ) | ||||
融資活動的現金流: |
||||||||
發行債券所得款項 |
15,737 | 4644 | ||||||
償還長期債務和資本租賃債務 |
(19,191 | ) | (5641 | ) | ||||
用於融資活動的現金淨額 |
(3,454 | ) | (997 | ) | ||||
匯率對現金的影響 |
(2 | ) | (23) | ) | ||||
現金淨減少 |
(1,378 | ) | (1,011 | ) | ||||
季初現金 |
2517 | 3942 | ||||||
季度末現金 |
$ | 1139 | $ | 2931 | ||||
現金流量資訊的補充披露: |
||||||||
支付利息的現金 |
$ | 215 | $ | 一百五十二 | ||||
支付所得稅的現金,扣除退款後的淨額 |
$ | 3. | $ | - |
SOURCE: ARC Group Worldwide, Inc.
資料來源:ARC集團全球公司