8-K
filed May 7, 2024, 7:59 PM ET
CIK 0001305168
earnings
confidence high
sentiment neutral
materiality 0.55
ARC Q1 2024 sales up 2.7% to $70.8M; EPS rises to $0.06 from $0.04
ARC DOCUMENT SOLUTIONS, INC.
2024-Q1 EPS reported
$0.06
revenue$70,792,000
- GAAP net income $2.5M ($0.06 diluted EPS); adjusted net income $2.6M ($0.06 adjusted EPS).
- Gross margin 32.2%, down 110 bps YoY on labor and material cost inflation.
- Scanning & Digital Imaging sales surged 23.4%; Digital Printing up 3.3%; MPS declined 2.3%.
- Cash from operations $3.7M; quarterly dividend of $0.05 payable May 31, record date Apr 30.
- Stockholders elected five directors, ratified Crowe as auditor, and approved say-on-pay.
Key facts
Extracted from this filing and checked against the source text.
Earnings Releases
SEC 8-K Item 2.02
confidence 0.99
ARC DOCUMENT SOLUTIONS, INC. reported the first quarter ended March 31, 2024 results: revenue $70.8, net income $2.5, EPS $0.06.
- Period
- the first quarter ended March 31, 2024
- Revenue
- $70.8
- Net income
- $2.5
- EPS
- $0.06
- Result
- reported results
Exact text from the filing
results for the first quarter ended March 31, 2024. Financial Highlights: Three Months Ended March 31, (All dollar amounts in millions, except EPS) 2024 2023 Net sales $ 70.8 $ 68.9 Gross margin 32.2 % 33.3 % Net income attributable to ARC $ 2.5 $ 1.9 Adjusted net income attributable to ARC $ 2.6 $ 2.2 Earnings per share - diluted $ 0.06 $ 0.04
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
ARC DOCUMENT SOLUTIONS, INC. shareholders approved Advisory, Non-Binding Vote on Executive Compensation at the 2024-05-01 meeting.
- Proposal
- say on pay
- Outcome
- passed
- Meeting
- 2024-05-01
Exact text from the filing
Proposal 3 - Advisory, Non-Binding Vote on Executive Compensation The Company’s stockholders approved, on an advisory, non-binding basis, the compensation paid to the Company’s executive officers for fiscal year 2023, as disclosed in the Company’s 2024 proxy statement. The results of the advisory, non-binding vote were as follows: For Against Abstain Broker Non-Votes 21,034,468 1,462,510 1,358,486 8,198,823
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
ARC DOCUMENT SOLUTIONS, INC. shareholders approved Ratification of Appointment of Independent Registered Public Accounting Firm at the 2024-05-01 meeting.
- Proposal
- auditor ratification
- Outcome
- passed
- Meeting
- 2024-05-01
Exact text from the filing
Proposal 2 - Ratification of Appointment of Independent Registered Public Accounting Firm The Company’s stockholders voted to ratify the appointment of Crowe LLP as the Company’s independent auditors for the fiscal year ending December 31, 2024. The results of the vote were as follows: For Against Abstain Broker Non-Votes 31,374,954 251,434 427,899 32,054,287
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
ARC DOCUMENT SOLUTIONS, INC. shareholders approved Election of Directors at the 2024-05-01 meeting.
- Proposal
- director election
- Outcome
- passed
- Meeting
- 2024-05-01
Exact text from the filing
Proposal 1 - Election of Directors The stockholders elected five directors, each to serve a one-year term until the Company’s next annual meeting of stockholders and until their respective successors are elected and qualified. The results of the vote were as follows: For Withheld Broker Non-Votes Kumarakulasingam Suriyakumar 22,109,137 1,746,327 8,198,823 Bradford L. Brooks 22,004,086 1,851,378 8,198,823 Cheryl Cook 20,885,213 2,970,251 8,198,823 Tracey Luttrell 20,631,435 3,224,029 8,198,823 Mark W. Mealy 21,676,864 2,178,600 8,198,823
View on SEC.gov
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