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| [February 13, 2013] |
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ARC Group Worldwide, Inc. Reports Second Quarter Net Income of $0.8 Million
DELAND, Fla. --(Business Wire)--
ARC Group Worldwide, Inc. (NASDAQ Capital Market: ARCW; "ARC") reported
today financial results for its fiscal 2013 second quarter ended
December 30, 2012. The Company posted second quarter sales revenue of
$17.5 million and second quarter net income attributable to ARC of $0.8
million, or $0.14 per diluted share. These results compare to quarter
sales revenue of $7.8 million and quarter net income attributable to ARC
of $1.2 million, or $0.30 per diluted share in the year ago quarter.
Gross profit was $4.3 million for the quarter ended December 30, 2012
compared to $3.3 million in the year ago quarter. The second quarter
results were driven largely by combined sales revenue and the related
cost of sales resulting from the reverse acquisition of ARC by Quadrant
Metals Technologies ("QMT"), as well as the acquisition of Advanced
Forming Technology, Inc. and AFT-Hungary Kft., (both referred to herein
as "AFT").
About ARC
ARC, through its operating subsidiaries AFT, QMT, ARC Wreless LLC and
ARC Wireless (News - Alert) Ltd., is a global diversified manufacturer active in metal
injection molding, flanges, specialty hermetic seals, and wireless
equipment. For more information about ARC, please visit www.arcgroupworldwide.net.
IMPORTANT INFORMATION
This press release may contain "forward-looking" statements as defined
in the Private Securities Litigation Reform Act of 1995, which are based
on ARC's current expectations, estimates and projections about future
events. These include, but are not limited to, statements, if any,
regarding business plans and integration efforts related to the recent
transactions, pro-forma statements and financial projections, ARC's
ability to expand its services and realize growth and efficiencies
through the acquisitions discussed herein, merger-related expenses and
the impact of the transaction on ARC's earnings, market share and
capital position. These statements are not historical facts or
guarantees of future performance, events or results. Such statements
involve potential risks and uncertainties, such as ARC's ability to
integrate QMT and AFT as planned and the general effects of financial,
economic, and regulatory conditions affecting our industries.
Accordingly, actual results may differ materially. Neither ARC nor QMT
nor AFT undertake any obligation to publicly update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise. For additional factors that may affect
future results, please see filings made by ARC with the Securities and
Exchange Commission ("SEC (News - Alert)"), including its Form 8-K/A filed with the SEC
on September 28, 2012 and the Form 10-Q for the six months ending
December 30, 2012.

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