ARC Document: Surges as co downsizes amid COVID-19 crisis

ARC Document Solutions

16/07/2020 19:36

** Document solutions provider's shares  ARC.N  jump 28.3%
to $1 
    ** ARC says it has transformed into a "smaller, leaner"
company for a post-COVID-19 era   urn:newsml:reuters.com:*:nACSgy0Xfa
    ** Says has aggressively removed costs related to segments
of businesses no longer relevant to existing customers
    ** Expects restructuring to result in Q2 EBITDA of ~$10 mln
and cash flow from ops >$20 mln despite reduced sales due to
COVID-19 shutdowns
    ** ARC says will now include offerings that range well
beyond the construction vertical and its print segments
    ** Stock down ~29% so far this year 

 (Reporting by Arundhati Sarkar in Bengaluru)
 ((Arundhati.Sarkar@thomsonreuters.com;
twitter.com/Arundhati_05; +1 646 223 8780 Ext: 2776;))