DREW KELLY, CFO of ARC Group Worldwide, bought 2,500 shares of ARC Group Worldwide (Stock Symbol: ARCW) at $24.97 per share for a total amount of $25 thousand on December 31, 2013.
ARC Group is headquartered in Deland, FL.
On January 7th 2014, ARC Group Worldwide, Inc. announced that its Advanced Forming Technology has recently launched a metal injection molding (MIM) part in space. In order to produce the part, AFT had to quickly develop a proprietary MIM engine component, which is an integral part of the rocket propulsion system. The engine component profile is a MIM net-shape part. AFT utilized its proprietary materials technology in order to deliver the necessary material properties required for the part. On December 12th 2013, ARC Group Worldwide, Inc. announced that it has formed a new 3D Printing division, 3D Material Technologies, LLC (“3DMT”). 3DMT is focused on utilizing ARC’s experience in 3D printing, rapid prototyping, short run production, and tooling to dramatically reduce customer’s ‘time to market’. On November 13th 2013, the company announced record quarterly results. Net revenues increased 38.1%, to $18.4 Million. Adjusted EBITDA increased 80.8% to a record $3.4 Million. Earnings increased from a prior year period loss to $1.3 million. Bank debt was paid down by 42.2%, or $10.6 Million
According to Capital IQ, ARC Group Worldwide has a market cap of $153 million, an enterprise value of $176 million, and trailing 12 month revenues of $74 million. ARC Group Worldwide, Inc., formerly ARC Wireless Solutions, Inc., is a provider of wireless network component and wireless network solutions. The Company designs, develops, manufactures, and markets antennas and antenna related accessories, including cellular base station, mobile, cellular, and flat panel antennas. With the release in December 2011, of the Company’s ARCFlexTM line of radio products, the Company has combined a functional radio and software solution with its antenna offerings. As of December 31, 2011, the Company has ceased all operations at Rainbow Industrial Limited (RIL) and manufactures exclusively through third party contract manufacturers in China. On August 8, 2012, the Company acquired Quadrant Metals Technologies LLC (QMT).
Mr. Drew Kelly is 38 years old. According to the biography, Mr. Drew M. Kelley is Chief Financial Officer of ARC Group Worldwide, Inc. Prior to joining the Company, Mr. Kelley was a Senior Vice President at Jefferies LLC and its predecessor, Jefferies Group, Inc. Mr. Kelley was employed by Jefferies (a brokerage, investment advisory, and corporate services company) from September 2008 to July 2013 and held various positions in the investment banking group, executing corporate finance, strategic advisory, restructuring, M&A, equity, and debt transactions for corporate clients. Prior to Jefferies, Mr. Kelley held investment banking and equity research positions at Bear, Stearns & Co. Inc. from 2002 to 2008. Mr. Kelley began his career at Merrill Lynch & Co. as an investment banking analyst in 2000. Mr. Kelley holds a BA in Business-Economics with a Minor in Accounting from UCLA.
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