ARC Group Profit Misses Estimate; Stock Down 15%

(RTTNews) - ARC Group Worldwide Inc (ARCW), a provider of advanced manufacturing and 3D printing solutions, Wednesday reported fourth-quarter net earnings of $163 thousand or $0.01 per share compared with $1.6 million or $0.11 per share last year.

Excluding items, the company reported breakeven-earnings-per-share for the quarter.

Revenues for the quarter were $23.7 million compared with $19.5 million in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.12 per share on revenues of $22.1 million for the quarter. Analysts' estimates typically exclude special items.

The company said the revenue increase was largely due to acquisitions, while the modest organic sales growth reflects a recent slowdown in the firearm/defense industry and the sales cycle inherent in the overall business.

Looking ahead to the first quarter, the company expects revenues of $28 million, while analysts expect $27.98 million.

The company's stock closed Wednesday at $16.88, down $0.19 or 1.11%, on a volume of 116k shares on the Nasdaq. In after hours, the stock dropped $2.63 or 15.58% at $14.25.