ARC announced that it will release its Q4 2010 and Full-Year 2010 Results on February 22, 2011.
On October 11, 2010, ARC issued revised guidance on its expected 2010 results, lowering its full-year 2010 EPS forecast to a range of $.04 - $.09 per share (excluding any one-time charges that may be incurred.)
ARC is very consistent in issuing Press Releases for upcoming earnings results. On February 9, 2010 (last year), ARC issued a press release to say that its Q4 2009 and Full-Year 2009 results would be released on February 9, 2010. Two weeks prior to that, on January 27, 2010, ARC issued a press release (in advance of its press release on February 9) to say that earnings results would be better than previously forecast.
Since ARC has not issued any further guidance (either lower or higher), since it last released revised guidance on October 11, 2010, I think it would be reasonable to assume that ARC’s Q4 2010 results and full-year 2010 results will fall into the EPS range forecast on October 11, 2010 ($.04 - $.09).
According to the “earnings estimates” on MarketWatch.com, 4 analysts have issued projections for ARC’s full-year 2010 EPS results.
· Low estimate: $.05 EPS
· High estimate: $.15 EPS
· Mean estimate: $.09 EPS
From previous 2010 Quarterly results Press Releases:
· Net income for the first quarter of 2010 was $717,000, or $0.02 per diluted share.
· Net income for the second quarter of 2010 was $1.7 million or $0.04 per diluted share.
· Adjusted to exclude the period's goodwill impairment, net income for the third quarter of 2010 was $0.3 million, or $0.01 per diluted share.
Through the first 9 months of 2010, ARC reported $.06 EPS per diluted share (which excludes one-time charges.) (Comment: I know. If you add .02 + .04 + .01, that equals $.07, so the $.06 must be ‘after’ the effects of adding the quarterly EPS numbers, then rounding to the nearest full penny.)
ARC management forecast full-year 2010 EPS in a range from $.04 to $.09. In order for ARC’s actual full-year 2010 results to fall into that range, ARC would have to report, for Q4 2010, somewhere between a loss of $.01 EPS and earnings of $.03 EPS. (Comment: Yes, I “aced” addition and subtraction in 2nd grade, but fell off later on when I encountered Algebra, Geometry and I managed to altogether avoid Trigonometry.)
So, what’s your prediction of ARC’s Full-Year 2010 EPS Results?
If you care to make a prediction, post it as a comment to this post.
My own personal prediction is that ARC will report $.03 EPS for Q4 2010 and $.09 EPS for the full-year 2010. I would imagine that ARC, by now, has gained at least some traction in its efforts to grow its non-AEC business (MPS and Riot Color.) And, ARC has continued right-sizing its costs.
I previously estimated that ARC’s full-year 2010 Sales will come in at right around $445 million.
And, in a recent post, I predicted that ARC’s 2011 Sales will end up being around 15% more than ARC’s 2010 Sales, as the reprographics industry begins in 2011 its long awaited recovery.
Simply for reference purposes, here are the ARC Press Releases I referred to in the commentary above:
WALNUT CREEK, CA, Jan 31, 2011
American Reprographics Fourth Quarter and Full Year 2010 Results Conference Call
WALNUT CREEK, CA, Jan 31, 2011 (MARKETWIRE via COMTEX) --American Reprographics Company (NYSE: ARC) today announced that it will hold a conference call with investors and analysts on Tuesday, February 22, 2011 at 2 P.M. Pacific Time (5:00 P.M. Eastern Time) to discuss results for the Company's fourth quarter and full year 2010.
The news release announcing the fourth quarter 2010 results will be disseminated on February 22, 2011 after the market close.
WALNUT CREEK, CA, Oct 11, 2010
American Reprographics Company Revises Annual Forecast
Company Lowers EPS and Operating Cash Flow Projections on Weaker Than Expected Demand for Reprographics Services
WALNUT CREEK, CA, Oct 11, 2010 (MARKETWIRE via COMTEX) --
American Reprographics Company (NYSE: ARP), the nation's leading provider of reprographics services and technology, today announced that it is lowering its annual earnings per share forecast for 2010. The Company currently expects to see annual EPS in the range of $0.04-$0.09, down from its earlier forecast of $0.15-$0.30. Operating cash flow for the Company is expected to be in the range of $50-$60 million, down from $65-$80 million. These projections exclude any one-time charges that may be incurred through December 31, 2010.
WALNUT CREEK, CA, Jan 27, 2010
ARC 2009 Earnings Expected to Exceed Estimates Due to Less Than Anticipated Decline in Fourth Quarter Revenue
WALNUT CREEK, CA, Jan 27, 2010 (MARKETWIRE via COMTEX) -- American Reprographics Company (NYSE: ARP) ("ARC" or the "Company"), the nation's leading provider of reprographics services and technology, today said that it expects to exceed its previously announced annual earnings per share forecast for 2009. It now anticipates earnings per share (on a fully-diluted basis) to be in the range of $0.35 to $0.38, excluding previously announced one-time charges.
The Company said that its earnings per share performance was the result of a lesser decline in fourth quarter revenues. The Company's previously announced earnings per share forecast was in the range of $0.27 to $0.33.
ARC executives will be available for comment during the 2009 fourth quarter and year-end earnings call scheduled for February 23, 2010, when they will provide details on the Company's financial and operational performance for 2009.
WALNUT CREEK, CA, Feb 09, 2010
American Reprographics Fourth Quarter and Full Year 2009 Results Conference Call
WALNUT CREEK, CA, Feb 09, 2010 (MARKETWIRE via COMTEX) -- American Reprographics Company (NYSE: ARP) today announced that it will hold a conference call with investors and analysts on Tuesday, February 23, 2010 at 2 P.M. Pacific Time (5:00 P.M. Eastern Time) to discuss results for the Company's fourth quarter and full year 2009 and first quarter 2010 business outlook.
The news release announcing the fourth quarter 2009 results will be disseminated on February 23, 2010 after the market close.