Arc reports continuing expansion of strategic services in fourth quarter and full year 2023
San ramon, ca / accesswire / february 28, 2024 / arc document solutions, inc. (nyse:arc), a leading provider of digital printing and document-related services, today reported its financial results for the fourth quarter and full year ended december 31, 2023. financial highlights: three months ended twelve months ended december 31, december 31, (all dollar amounts in millions, except eps) 2023 2022 2023 2022 net sales $ 68.9 $ 68.8 $ 281.2 $ 286.0 gross margin 32.2 % 33.7 % 33.6 % 33.6 % net (loss) income attributable to arc $ (0.9 ) $ 2.1 $ 8.2 $ 11.1 adjusted net income attributable to arc $ 2.4 $ 2.6 $ 11.8 $ 12.0 (loss) earnings per share - diluted $ (0.02 ) $ 0.05 $ 0.19 $ 0.26 adjusted earnings per share - diluted $ 0.05 $ 0.06 $ 0.27 $ 0.28 cash provided by operating activities $ 13.7 $ 10.8 $ 36.6 $ 37.2 ebitda $ 3.7 $ 8.9 $ 31.9 $ 39.1 adjusted ebitda $ 8.3 $ 9.3 $ 38.1 $ 40.9 capital expenditures $ 3.0 $ 1.6 $ 10.8 $ 5.9 debt & finance leases (including current) $ 62.2 $ 66.5 management commentary "in a year where interest rates constrained capital spending and sentiment was mixed on the health of the economy, our ability to adapt and manage costs drove an increase in fourth quarter revenue, limited declines in annual revenue to less than two percent, and held gross margins steady for the year," said suri suriyakumar, ceo of arc document solutions.
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