arc-20201019
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report: October 19, 2020
(Date of earliest event reported)
ARC Document Solutions, Inc.
(Exact name of registrant as specified in its charter)
Delaware001-3240720-1700361
(State or other jurisdiction
of incorporation)
(Commission File Number)(IRS Employer
Identification Number)
12657 Alcosta Blvd, Suite 200  San RamonCA94583
(Address of principal executive offices)(Zip Code)

(925)949-5100
(Registrant's telephone number, including area code)
Not Applicable
(Former Name or Former Address, if changed since last report)


Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading Symbol(s)Name of each exchange on which registered
Common Stock, par value 00013051682020-10-192020-10-19

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report: October 19, 2020
(Date of earliest event reported)
ARC Document Solutions, Inc.
(Exact name of registrant as specified in its charter)
Delaware001-3240720-1700361
(State or other jurisdiction
of incorporation)
(Commission File Number)(IRS Employer
Identification Number)
12657 Alcosta Blvd, Suite 200  San RamonCA94583
(Address of principal executive offices)(Zip Code)

(925)949-5100
(Registrant's telephone number, including area code)
Not Applicable
(Former Name or Former Address, if changed since last report)


Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading Symbol(s)Name of each exchange on which registered
Common Stock, par value $0.001 per shareARCThe New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨ 




Item 2.02. Results of Operations and Financial Condition.

On October 19, 2020, ARC Document Solutions, Inc. (the “Company”) issued a press release reporting its expectation regarding certain preliminary financial results for the third quarter 2020. A copy of the press release is furnished as Exhibit 99.1 and is incorporated by reference herein.

The information contained in Item 2.02 of this Current Report on Form 8-K, including Exhibit 99.1 attached hereto, shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or incorporated by reference into any filing of the Company under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.


Item 9.01. Financial Statements and Exhibits

(d) Exhibits
           




SIGNATURE

      Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Dated: October 19, 2020
ARC DOCUMENT SOLUTIONS, INC.
By:  /s/ Jorge Avalos                    
     Jorge Avalos
     Chief Financial Officer






ARCThe New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨ 




Item 2.02. Results of Operations and Financial Condition.

On October 19, 2020, ARC Document Solutions, Inc. (the “Company”) issued a press release reporting its expectation regarding certain preliminary financial results for the third quarter 2020. A copy of the press release is furnished as Exhibit 99.1 and is incorporated by reference herein.

The information contained in Item 2.02 of this Current Report on Form 8-K, including Exhibit 99.1 attached hereto, shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or incorporated by reference into any filing of the Company under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.


Item 9.01. Financial Statements and Exhibits

(d) Exhibits
           
    99.1       Press Release of ARC Document Solutions, Inc. dated October 19, 2020




SIGNATURE

      Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Dated: October 19, 2020
ARC DOCUMENT SOLUTIONS, INC.
By:  /s/ Jorge Avalos                    
     Jorge Avalos
     Chief Financial Officer




Exhibit Index
Exhibit No.

Description

  



Document

ARC Q3 Results Expected to Include More Than 10% Increase in Sequential Sales, Adjusted EBITDA in Excess of $12 Million, and Reinstatement of Dividend Based on Strong Cash Flows

SAN RAMON, CA / ACCESSWIRE / October 19, 2020 / ARC Document Solutions, Inc. (NYSE:ARC), a leading national digital print and graphics imaging provider, today announced its third quarter expectations for significant quarterly increases in sales and earnings and continuing strength in cash flow from operations. Management also plans to reinstate dividends and share repurchases. ARC's 2020 third quarter earnings report will be presented on November 4, 2020.
“The market for signage, color and environmental graphics is proving to be robust, as we expected. After reconfiguring the business earlier this year, we are positioned perfectly to take advantage of these sales trends and leverage our lower cost structure,” said Suri Suriyakumar, CEO of ARC. “After testing the integrity of our strong cash flows for the past two quarters, I am also pleased with our plans to reinstate our dividend and stock repurchase programs before the end of the year.”
The company expects to report third quarter revenue in excess of $70 million. Adjusted EBITDA is expected to be more than $12 million, beating its year-over-year performance and exceeding its second quarter performance by more than a million dollars. Based on its continuing strong cash flow performance, ARC is reviewing the timing for the reinstatement of its four-cent annual dividend, as well as a continuation of share repurchases in the open market.
ARC’s Recent Reconfiguration
On August 4, 2020, during the Company's second quarter earnings report, ARC announced significant changes to the Company's sales and marketing, operations, finance, technology, and corporate functions. Its stated goal was to create the potential for new growth by focusing on a resurgence of digital printing and graphic imaging, and to remove redundant capacity, assets, and infrastructure associated with business lines that had become less relevant over time.
ARC 2020 Q3 Earnings Report
ARC will hold a conference call to discuss its third quarter 2020 results on Wednesday, November 4, 2020, at 2 P.M. Pacific Time (5 P.M. Eastern Time). The Company's related press release will also be issued on November 4, 2020, after the market close.
To access the live audio call, dial (833) 968-2212. International callers may join the conference by dialing (778) 560-2897. The conference code is 6392324 and will be required to dial in to the call. A live webcast will also be made available on the investor relations page of ARC Document Solution's website at http://ir.e-arc.com. A replay of the webcast will be available on the website following the call's conclusion.
About ARC Document Solutions (NYSE: ARC)
ARC provides a wide variety of document distribution and graphic production services to facilitate communication for professionals in the design, marketing, commercial real estate, construction and related fields. Follow ARC at www.e-arc.com.




Forward-Looking Statements
This press release contains forward-looking statements that are based on current opinions, estimates and assumptions of management regarding future events and the future financial performance of the Company, including forward-looking statements related to the impact of the COVID-19 pandemic on the Company's operations. Words and phrases such as “expectations for significant quarterly increases,” “plans to reinstate dividends and share repurchases,” “positioned perfectly to take advantage of these sales trends and leverage our lower cost structure,” and similar expressions identify forward-looking statements and all statements other than statements of historical fact, including, but not limited to, any projections regarding earnings, revenues and financial performance of the Company, could be deemed forward-looking statements. We caution you that such statements are only predictions and are subject to certain risks and uncertainties that could cause actual results to differ materially from those contained in the forward-looking statements. In addition to matters affecting the construction, managed print services, document management or reprographics industries, or the economy generally, factors that could cause actual results to differ from expectations stated in forward-looking statements include, among others, the factors described in the caption entitled "Risk Factors" in Item 1A in ARC Document Solution's Annual Report on Form 10-K for the fiscal year ended December 31, 2019, Quarterly Reports on Form 10-Q, and other periodic filings and prospectuses. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law.

CONTACT:
David Stickney
VP Corporate Communications & IR
+1-925-949-5114

v3.20.2
Cover Page
Oct. 19, 2020
Cover [Abstract]  
Document Type 8-K
Document Period End Date Oct. 19, 2020
Entity Registrant Name ARC Document Solutions, Inc.
Entity Incorporation, State or Country Code DE
Entity File Number 001-32407
Entity Tax Identification Number 20-1700361
Entity Address, Address Line One 12657 Alcosta Blvd, Suite 200
Entity Address, City or Town San Ramon
Entity Address, State or Province CA
Entity Address, Postal Zip Code 94583
City Area Code (925)
Local Phone Number 949-5100
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Title of 12(b) Security Common Stock, par value $0.001 per share
Trading Symbol ARC
Security Exchange Name NYSE
Entity Emerging Growth Company false
Amendment Flag false
Entity Central Index Key 0001305168