ARC Document Solutions (NYSE:ARC) delivered a profit and met Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company.
ARC Document Solutions Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased to $0.01 in the quarter versus EPS of $0.00 in the year-earlier quarter.
Revenue: Decreased 1.82% to $100 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: ARC Document Solutions reported adjusted EPS income of $0.01 per share. By that measure, the company met the mean analyst estimate of $0.01. It missed the average revenue estimate of $100.14 million.
Quoting Management: “We posted solid sales in the first quarter of 2013 largely due to our continuing growth in MPS, and we saw significant improvement in gross margin thanks to the aggressive restructuring efforts we made in the fourth quarter of 2012,” said K. “Suri” Suriyakumar, Chairman, President and CEO of ARC Document Solutions. “Management remains focused on selling our new portfolio of services within the broader context of document solutions. Given current conditions in our traditional market, this strategy is already paying dividends as we continue to make headway with our larger MPS customers, and garner interest in archiving and information management.”
Key Stats (on next page)…