ARC Document Solutions, Inc. |
||||||||||||
Consolidated Statements of Operations |
||||||||||||
(In thousands, except per share data) |
||||||||||||
(Unaudited) |
Three Months Ended |
Twelve Months Ended |
||||||||||
December 31, |
December 31, |
|||||||||||
2016 |
2015 |
2016 |
2015 |
|||||||||
Service sales |
$ |
85,947 |
$ |
91,593 |
$ |
358,341 |
$ |
378,638 |
||||
Equipment and supplies sales |
12,611 |
12,946 |
47,980 |
50,027 |
||||||||
Total net sales |
98,558 |
104,539 |
406,321 |
428,665 |
||||||||
Cost of sales |
68,174 |
69,238 |
273,078 |
280,541 |
||||||||
Gross profit |
30,384 |
35,301 |
133,243 |
148,124 |
||||||||
Selling, general and administrative expenses |
23,462 |
26,877 |
100,214 |
107,280 |
||||||||
Amortization of intangible assets |
1,128 |
1,336 |
4,833 |
5,642 |
||||||||
Goodwill impairment |
— |
— |
73,920 |
— |
||||||||
Restructuring expense |
— |
— |
7 |
89 |
||||||||
Income from operations |
5,794 |
7,088 |
(45,731) |
35,113 |
||||||||
Other income, net |
(18) |
(18) |
(72) |
(99) |
||||||||
Loss on extinguishment of debt |
52 |
89 |
208 |
282 |
||||||||
Interest expense, net |
1,461 |
1,499 |
5,996 |
6,974 |
||||||||
Income (loss) before income tax provision (benefit) |
4,299 |
5,518 |
(51,863) |
27,956 |
||||||||
Income tax provision (benefit) |
1,520 |
2,334 |
(4,364) |
(69,432) |
||||||||
Net income (loss) |
2,779 |
3,184 |
(47,499) |
97,388 |
||||||||
Income attributable to noncontrolling interest |
(155) |
(123) |
(366) |
(348) |
||||||||
Net income (loss) attributable to ARC Document Solutions, Inc. shareholders |
$ |
2,624 |
$ |
3,061 |
$ |
(47,865) |
$ |
97,040 |
||||
Earnings (loss) per share attributable to ARC Document Solutions, Inc. shareholders: |
||||||||||||
Basic |
$ |
0.06 |
$ |
0.07 |
$ |
(1.04) |
$ |
2.08 |
||||
Diluted |
$ |
0.06 |
$ |
0.06 |
$ |
(1.04) |
$ |
2.04 |
||||
Weighted average common shares outstanding: |
||||||||||||
Basic |
45,567 |
46,722 |
45,932 |
46,631 |
||||||||
Diluted |
46,274 |
47,400 |
45,932 |
47,532 |