Oppenheimer Maintains Perform on American Reprographics

By David Johnson

Benzinga Staff Writer

February 22, 2012 7:36 AM

Oppenheimer reiterates its Perform rating on American Reprographics (NYSE: ARC) following an in-line quarterly performance cautious outlook for 2012.

Oppenheimer notes, "ARC delivered adjusted 4Q11 EPS of $0.00 vs. our est/consensus/4Q10/3Q11 of $0.00/$0.04/-$0.03/$0.02. Reported EPS was -$0.07 on one-time items. Revenue of $102M topped our est/consensus of $99M/$101M. We're reducing our 2012-13E EPS to $0.07/$0.14 from $0.08/$0.16, respectively, on an outlook that the top line does very little beyond net stabilizing over the coming few quarters given low visibility into ARC's key non-residential construction markets. This stems largely from ARC's cautious 2012 EPS guidance of $0.05-0.10, versus consensus of $0.22E."

ARC closed at $6.52 a share on Tuesday (February 21^st)

Blog Publisher’s note:

ARC trading, just after the opening bell, this morning, Feb 22^nd:

Symbol

ARC

Last

6.24

Change

-0.28

Bid

6.22

Ask

6.29

High

6.38

Low

6.20

Volume

5,723

Time (ET)

9:32:41 AM