Arc reports growth in overall sales and improvements in gross margin for q2 2024

San ramon, ca / accesswire / august 7, 2024 / arc document solutions, inc. (nyse:arc), a leading provider of digital printing and document-related services, today reported its financial results for the second quarter ended june 30, 2024. financial highlights: three months ended six months ended june 30, june 30, (all dollar amounts in millions, except eps) 2024 2023 2024 2023 net sales $ 75.1 $ 72.4 $ 145.9 $ 141.3 gross margin 35.1 % 34.8 % 33.7 % 34.0 % net income attributable to arc $ 3.2 $ 4.0 $ 5.6 $ 6.0 adjusted net income attributable to arc $ 3.3 $ 4.1 $ 5.9 $ 6.2 earnings per share - diluted $ 0.07 $ 0.09 $ 0.13 $ 0.14 adjusted earnings per share - diluted $ 0.08 $ 0.09 $ 0.14 $ 0.14 cash provided by operating activities $ 6.4 $ 10.3 $ 10.1 $ 14.2 ebitda $ 9.1 $ 10.6 $ 17.0 $ 18.8 adjusted ebitda $ 9.8 $ 11.1 $ 18.3 $ 19.8 capital expenditures $ 3.8 $ 2.2 $ 6.9 $ 4.5 debt & finance leases (including current) $ 59.9 $ 62.8 management commentary: "the execution of our strategic objectives were, once again, responsible for our success in the second quarter, despite uncertain business conditions caused by the high interest rates and the weakness in commercial construction due to excess supply," said suri suriyakumar, chairman and ceo of arc document solutions.
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