ARC Document Solutions, Inc.
Non-GAAP Measures Reconciliation of net loss attributable to ARC to
unaudited adjusted net income (loss) attributable to ARC (Dollars in
thousands, except per share data) (Unaudited)
Three Months Ended Twelve Months Ended
December 31, December 31,
------------------- -------------------
2013 2012 2013 2012
-------- -------- -------- --------
Net loss attributable to ARC
Document Solutions, Inc. $(16,010) $ (5,896) $(15,323) $(31,968)
Loss on extinguishment of debt 16,077 -- 16,339 --
Goodwill impairment -- -- -- 16,707
Restructuring expense 779 3,320 2,544 3,320
Change in trade name impact to
amortization -- -- -- 3,158
Interest rate swap related
costs -- 393 -- 3,440
Income tax benefit related to
above items (6,877) (1,397) (7,667) (7,676)
Deferred tax valuation
allowance and other discrete
tax items 7,172 2,736 8,245 11,311
-------- -------- -------- --------
Unaudited adjusted net income
(loss) attributable to ARC
Document Solutions, Inc. $ 1,141 $ (844) $ 4,138 $ (1,708)
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Actual:
Loss per share attributable to
ARC Document Solutions, Inc.
shareholders:
Basic $ (0.35) $ (0.13) $ (0.33) $ (0.70)
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Diluted $ (0.35) $ (0.13) $ (0.33) $ (0.70)
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Weighted average common shares
outstanding:
Basic 45,927 45,749 45,856 45,668
Diluted 45,927 45,749 45,856 45,668
Adjusted:
Earnings (loss) per share
attributable to ARC Document
Solutions, Inc. shareholders:
Basic $ 0.02 $ (0.02) $ 0.09 $ (0.04)
======== ======== ======== ========
Diluted $ 0.02 $ (0.02) $ 0.09 $ (0.04)
======== ======== ======== ========
Weighted average common shares
outstanding:
Basic 45,927 45,749 45,856 45,668
Diluted 46,682 45,749 46,157 45,668
ARC Document Solutions, Inc. Non-GAAP Measures Reconciliation of net loss
attributable to ARC to EBIT, EBITDA and Adjusted EBITDA (Dollars in
thousands) (Unaudited)
Three Months Ended Twelve Months Ended
December 31, December 31,
--------------------- ---------------------
2013 2012 2013 2012
--------- --------- --------- ---------
Net loss attributable to ARC
Document Solutions, Inc. $ (16,010) $ (5,896) $ (15,323) $ (31,968)
Interest expense, net 5,725 6,490 23,737 28,165
Income tax provision 1,040 939 2,986 2,784
--------- --------- --------- ---------
EBIT (9,245) 1,533 11,400 (1,019)
Depreciation and
amortization 8,655 9,012 34,745 39,522
--------- --------- --------- ---------
EBITDA (590) 10,545 46,145 38,503
Loss on extinguishment of
debt 16,077 -- 16,339 --
Goodwill impairment -- -- -- 16,707
Restructuring expense 779 3,320 2,544 3,320
Stock-based compensation 1,158 542 3,207 1,999
--------- --------- --------- ---------
Adjusted EBITDA $ 17,424 $ 14,407 $ 68,235 $ 60,529
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ARC Document Solutions, Inc.
Net Sales by Product Line (Dollars in thousands) (Unaudited)
Three Months Ended Twelve Months Ended
December 31, December 31,
-------------------- --------------------
2013 2012 2013 2012
--------- --------- --------- ---------
Service Sales
Traditional reprographics $ 27,693 $ 28,357 $ 116,673 $ 126,785
Color 20,212 19,241 83,601 79,080
Digital 8,187 7,816 33,534 35,578
--------- --------- --------- ---------
Subtotal 56,092 55,414 233,808 241,443
Onsite services(1) 31,008 27,555 121,550 108,817
--------- --------- --------- ---------
Total services sales 87,100 82,969 355,358 350,260
Equipment and supplies sales 14,185 13,922 51,837 55,858
--------- --------- --------- ---------
Total net sales $ 101,285 $ 96,891 $ 407,195 $ 406,118
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