Friday, December 10, 2021 4:30 PM
DELAND, FL / ACCESSWIRE / December 10, 2021 / ARC Group Worldwide, Inc. (“ARC” or the “Company”), a leading global provider of advanced manufacturing, today reports its results for the first fiscal quarter ending September 26, 2021. ARC reports large improvements across all major financial metrics for the organization.
First Quarter Fiscal Year 2022 Results
- Net sales were $15.2 million, up 32.7% from the prior-year period;
- Gross profit was $3.3 million, up 56.9% from the prior-year period;
- Operating expenses were $1.7 million, up 3.7% from the prior-year period however down 3.2% as a percentage of revenue;
- Income from operations was $1.6 million, up 259.3% from the prior-year period;
- Interest and financing costs were $0.5 million, up 55.7% from the prior-year period;
- EBITDA was $2.9 million, increasing by 57.1%;
- Adjusted EBITDA for the three months ended September 26, 2021 was also $2.9 million. Adjusted EBITDA is a non-GAAP financial measure, which is reconciled to the most directly comparable GAAP financial measure and more fully defined in the enclosed table.
To see the full Financial Report, please click here