ARC Group Worldwide Reports Fiscal Year Third Quarter 2017 Results
ARC GROUP WORLDWIDE INC (ARCW)
Last arc group worldwide inc earnings: 2/9 04:35 pm
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US:NASDAQ Investor Relations:
arcgroupworldwide.com/investor-relations.html
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Source: GlobeNewswire
DELAND, Fla., May 15, 2017 (GLOBE NEWSWIRE) -- ARC Group Worldwide, Inc. (“ARC” and the “Company”) (NASDAQ:ARCW), a leading global provider of advanced manufacturing and metal 3D printing solutions, today reported its results for the period ending April 2, 2017, its fiscal third quarter 2017. Quarterly Financial Summary Fiscal third quarter 2017 revenue was $25.5 million compared to $24.9 for the fiscal third quarter of 2016. The growth in sales was primarily driven by higher MIM sales across multiple industries. Gross profit for the period was $3.1 million compared to $5.0 million for the prior year period. The primary reason for the decrease in gross profit was due to increased development expenses associated with the ramping up of production for significant new products in the firearms and defense industry, which resulted in increased staffing levels and associated labor costs, along with higher scrap. Facility EBITDA from Continuing Operations for the fiscal third quarter
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