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American Reprographics' CEO Discusses Q2 2012 Results - Earnings Call Transcript

This call will contain forward-looking statements that fall within the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995 regarding future events and the future financial performance of the company, including the company’s financial outlook. Bear in mind that such statements are only predictions and actual results may differ materially as a result of risks and uncertainties that pertain to our business. These risks are highlighted in our quarterly and annual SEC filings.

The forward-looking statements contained in this call are based on information as of today, August 7, 2012 and except as required by law, the company undertakes no obligation to update or revise any of these forward-looking statements.

Finally, this call will contain references to certain non-GAAP measures. The reconciliation of these non-GAAP measures is set forth in today’s press release and in our Form 8-K filing.

At this point, I’ll turn the call over to our Chairman, President and CEO, Suri Suriyakumar. Suri?

Suri Suriyakumar

Thank you, David and good afternoon. As we reported earlier today, in the second quarter of 2012, ARC delivered $106.2 million in revenue, a gross margin of 31.8% and $4.5 million in cash flow from operations. Adjusted earnings per-share for the quarter came in at $0.02.

Year-to-date our cash flow remains strong at nearly $17 million and as noted, [inaudible] remains undrawn.

As you seen in the past, we continue to manage our business effectively, even under very challenging market condition, enabling us to meet our financial obligations comfortably. We have also repeatedly said that we are positioned in the company for recovery. Most of this positioning has been in the form of structural changes to our work force, footprint and construction.

During the past two quarters however, we have also started to aggressively increase our investments in the business with the recovery in mind. During the second quarter, we hired more than 65 college graduates from all over the country, and get them in a intern and focus training program, and we are now in the process of deploying them in the field under the guidance of executive mentor, senior sales people, and of course, our deeply experienced sales management team.

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