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American Reprographics reports a strong quarter, prepared for challenging year

Wednesday, May 05, 2010

Press release from the issuing company

Walnut Creek, CA, - American Reprographics Company American Reprographics Company (the "Company"), the nation's leading provider of reprographic services and technology, today reported its financial results for the first quarter ended March 31, 2010.

"As the commercial construction market struggles to find its feet, ARC continues to operate well," said K. "Suri" Suriyakumar, Chairman, President and CEO. "While we expect to see signs of life in employment, vacancy rates and credit availability in 2010, such improvements in the general economy are likely to be in advance of any recovery in the AEC market. Thus we remain prepared for a challenging year, and confident in our ability to manage costs, generate cash, and explore new opportunities within our core competencies as we have done throughout the downturn."

Net revenue for the first quarter of 2010 was $112.2 million and the Company's gross margin was 32.9% for the three-month period ended March 31, 2010. Net income for the first quarter of 2010 was $717,000, or $0.02 per diluted share.

Jonathan Mather, Chief Financial Officer, said, "Revenue continues to be challenged by the softness in the U.S. AEC market, but we continue to implement incremental cost controls, produce healthy margins, and maintain a strong balance sheet."

The Company reaffirmed its forecast of annual earnings per share in 2010 to be in the range of $0.15 to $0.30 on a fully-diluted basis, and annual cash flow from operations in the range of $65 million to $80 million.




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Wide Format Editor

Richard Romano

Richard Romano, Section Editor/Senior Analyst
Richard has written about communication, graphics hardware and software trends for the past 15 years.

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