ARC Document Solutions Reports Results for Third Quarter 2017

 


ARC Document Solutions, Inc.
Non-GAAP Measures
Reconciliation of net (loss) income attributable to ARC Document Solutions, Inc. to EBITDA and Adjusted EBITDA
(In thousands)
(Unaudited)

 

 Three Months Ended

Nine Months Ended

 

September 30,

September 30,

 

2017

2016

2017

2016

Net (loss) income attributable to ARC Document Solutions, Inc.

$

(14,774)

 

$

2,841

 

$

(9,354)

 

$

(50,489)

 

Interest expense, net

1,530

 

1,563

 

4,679

 

4,535

 

Income tax (benefit) provision

(2,174)

 

2,162

 

1,574

 

(5,884)

 

Depreciation and amortization

8,430

 

7,857

 

25,037

 

23,737

 

EBITDA

(6,988)

 

14,423

 

21,936

 

(28,101)

 

Loss on extinguishment and modification of debt

124

 

66

 

230

 

156

 

Goodwill impairment

17,637

 

 

17,637

 

73,920

 

Restructuring expense

 

 

 

7

 

Stock-based compensation

699

 

650

 

2,251

 

2,073

 

Adjusted EBITDA

$

11,472

 

$

15,139

 

$

42,054

 

$

48,055

 
 

See Non-GAAP Financial Measures discussion below.

 

ARC Document Solutions, Inc.
Non-GAAP Measures
Reconciliation of net (loss) income attributable to ARC to unaudited adjusted net income attributable to ARC
(In thousands, except per share data)
(Unaudited)

 

 Three Months Ended

Nine Months Ended

 

September 30,

September 30,

 

2017

2016

2017

2016

Net (loss) income attributable to ARC Document Solutions, Inc.

$

(14,774)

 

$

2,841

 

$

(9,354)

 

$

(50,489)

 

Loss on extinguishment and modification of debt

124

 

66

 

230

 

156

 

Goodwill impairment

17,637

 

 

17,637

 

73,920

 

Restructuring expense

 

 

 

7

 

Income tax benefit related to above items

(3,144)

 

(26)

 

(3,186)

 

(13,395)

 

Deferred tax valuation allowance and other discrete tax items

515

 

138

 

594

 

341

 

Unaudited adjusted net income attributable to ARC Document Solutions, Inc.

$

358

 

$

3,019

 

$

5,921

 

$

10,540

 
         

Actual:

       

(Loss) earnings per share attributable to ARC Document Solutions, Inc. shareholders:

       

Basic

$

(0.32)

 

$

0.06

 

$

(0.20)

 

$

(1.10)

 

Diluted

$

(0.32)

 

$

0.06

 

$

(0.20)

 

$

(1.10)

 

Weighted average common shares outstanding:

       

Basic

45,834

 

45,599

 

45,756

 

46,055

 

Diluted

45,834

 

46,189

 

45,756

 

46,055

 
         

Adjusted:

       

Earnings per share attributable to ARC Document Solutions, Inc. shareholders:

       

Basic

$

0.01

 

$

0.07

 

$

0.13

 

$

0.23

 

Diluted

$

0.01

 

$

0.07

 

$

0.13

 

$

0.23

 

Weighted average common shares outstanding:

       

Basic

45,834

 

45,599

 

45,756

 

46,055

 

Diluted

46,342

 

46,189

 

46,335

 

46,655

 
 

See Non-GAAP Financial Measures discussion below.


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