• Yesterday afternoon, ARC released its Q1 2017
    Financial Results
    EPS of $0.04
    misses by $-0.01 | Revenue of $98.7M (- 4.7% Y/Y) misses by $-1.59M
    Link to Press
    Release on ARC’s Q1 2017 Financial Results:
    Each quarter,
    right after ARC releases its results, ARC conducts an “earnings call”, during
    which ARC’s top management team members provide verbal comments about ARC’s
    results.  After the earnings calls are
    completed, a written transcript of what was said (what was presented, questions
    asked by analysts, and responses to those questions) is published on
    seekingalpha.com.
    This morning, I
    read through the earnings call transcript …..
    A couple of Dilo’s
    comments:
    “Our CDIM
    customers are busy and that’s obviously good news. The number of projects in
    the design and construction stage are increasing and the more our customers do,
    the great opportunity to sell across our portfolio of products and services.”
    “We continue to see a reduction in
    printed documents of all kinds.”
    “Paper is still in use but no longer
    the medium of choice on most large construction projects.”
    Here’s a link to
    the full earnings call transcript:
     – – – – – – – –

    Quick Snapshot of ARC’s Sales:
    Annual Sales, year by year, most recent five
    years:
    Calendar Year
    Total Sales
    2012
    $406.12 million
    2013
    $407.19 million
    2014
    $423.76 million
    2015
    $428.67 million
    2016
    $406.36 million
    2017 (year-to-date – Q1 only)
    $ 98.7 million
    Quarterly Sales, quarter by quarter, year
    2016:
    Calendar Year
    Total Sales
    1st quarter, 2016
    $103.55 million
    2nd quarter, 2016
    $103.77 million
    3rd quarter, 2016
    $100.44 million
    4th quarter, 2016
    $ 98.6 million
    Quarterly Sales, quarter by quarter, year
    2017:

    0
    0
    1
    352
    2013
    Proactive Management
    16
    4
    2361
    14.0

    Normal
    0

    false
    false
    false

    EN-US
    JA
    X-NONE

    /* Style Definitions */
    table.MsoNormalTable
    {mso-style-name:”Table Normal”;
    mso-tstyle-rowband-size:0;
    mso-tstyle-colband-size:0;
    mso-style-noshow:yes;
    mso-style-priority:99;
    mso-style-parent:””;
    mso-padding-alt:0in 5.4pt 0in 5.4pt;
    mso-para-margin:0in;
    mso-para-margin-bottom:.0001pt;
    mso-pagination:widow-orphan;
    font-size:10.0pt;
    font-family:Cambria;
    mso-ascii-font-family:Cambria;
    mso-ascii-theme-font:minor-latin;
    mso-hansi-font-family:Cambria;
    mso-hansi-theme-font:minor-latin;
    mso-fareast-language:JA;}
    table.MsoTableGrid
    {mso-style-name:”Table Grid”;
    mso-tstyle-rowband-size:0;
    mso-tstyle-colband-size:0;
    mso-style-priority:59;
    mso-style-unhide:no;
    border:solid windowtext 1.0pt;
    mso-border-alt:solid windowtext .5pt;
    mso-padding-alt:0in 5.4pt 0in 5.4pt;
    mso-border-insideh:.5pt solid windowtext;
    mso-border-insidev:.5pt solid windowtext;
    mso-para-margin:0in;
    mso-para-margin-bottom:.0001pt;
    mso-pagination:widow-orphan;
    font-size:10.0pt;
    font-family:Cambria;
    mso-ascii-font-family:Cambria;
    mso-ascii-theme-font:minor-latin;
    mso-hansi-font-family:Cambria;
    mso-hansi-theme-font:minor-latin;
    mso-fareast-language:JA;}

    Calendar Year
    Total Sales
    1st quarter, 2017
    $ 98.7 million
    2nd quarter, 2017
    $
    3rd quarter, 2017
    $
    4th quarter, 2017
    $
  • Blog Publisher’s comments:
    I received
    this HP “Case Study” via e-mail this morning.

    Quite impressive that an HP dealer, RPG
    (formerly known as Reprographic Products Group), based in the Washington, DC
    area, is the HP dealer who got this deal done, as Atlantic Constructors is
    based in Richmond, VA. Congrats to Mark Kadanoff and his team members at RPG.



    Case study 


    Atlantic Constructors produces sharp, large-format prints
    in an instant



    HP PageWide XL 5000 Multifunction Printers enable fast, reliable
    color printing, saving $40k per year



    Link
    to Case Study pdf file:

    0
    0
    1
    105
    601
    Proactive Management
    5
    1
    705
    14.0

    Normal
    0

    false
    false
    false

    EN-US
    JA
    X-NONE

    /* Style Definitions */
    table.MsoNormalTable
    {mso-style-name:”Table Normal”;
    mso-tstyle-rowband-size:0;
    mso-tstyle-colband-size:0;
    mso-style-noshow:yes;
    mso-style-priority:99;
    mso-style-parent:””;
    mso-padding-alt:0in 5.4pt 0in 5.4pt;
    mso-para-margin:0in;
    mso-para-margin-bottom:.0001pt;
    mso-pagination:widow-orphan;
    font-size:10.0pt;
    font-family:Cambria;
    mso-ascii-font-family:Cambria;
    mso-ascii-theme-font:minor-latin;
    mso-hansi-font-family:Cambria;
    mso-hansi-theme-font:minor-latin;
    mso-fareast-language:JA;}

  • JOSEPH D’ANNUNZIO Jr. (1925 – 2017)
    Obituary

    0
    0
    1
    1122
    6396
    Proactive Management
    53
    15
    7503
    14.0

    Normal
    0

    false
    false
    false

    EN-US
    JA
    X-NONE

    /* Style Definitions */
    table.MsoNormalTable
    {mso-style-name:”Table Normal”;
    mso-tstyle-rowband-size:0;
    mso-tstyle-colband-size:0;
    mso-style-noshow:yes;
    mso-style-priority:99;
    mso-style-parent:””;
    mso-padding-alt:0in 5.4pt 0in 5.4pt;
    mso-para-margin:0in;
    mso-para-margin-bottom:.0001pt;
    mso-pagination:widow-orphan;
    font-size:10.0pt;
    font-family:Cambria;
    mso-ascii-font-family:Cambria;
    mso-ascii-theme-font:minor-latin;
    mso-hansi-font-family:Cambria;
    mso-hansi-theme-font:minor-latin;
    mso-fareast-language:JA;}

    Joseph Carlyle D’Annunzio Jr. TALLAHASSEE, FL
    Joseph Carlyle D’Annunzio Jr., 91 entered God’s kingdom on Tuesday, March 21, 2017, as he lay in the loving arms of his wife
    of 46 years, Barbara, in his Golden Eagle home where he had lived for over 25
    years. Born in Philadelphia, PA, on Oct. 1, 1925, Joe soon moved to Trenton,
    NJ. In school, Joe excelled in academics and sports. Unable to accept an
    appointment to Annapolis due to an eye problem, Joe entered the U.S. Navy V-12
    program. This earned him a B.S. in engineering from Columbia University in New
    York City and a Navy commission. He was elected to the Tau Beta Pi engineering
    fraternity for having maintained excellence in academic performance at
    Columbia, and he lettered in Varsity basketball. Following graduation, the Navy
    then sent Joe to Steam Engineering school and to Norfolk, Va., where he was
    stationed aboard the USS LCS (L) (3) 1 more affectionately known as “The
    Dirty Ace.” Joe received the Navy medal for active service in World War II
    and the Navy medal for service in the American Theatre Campaign of World War
    II. Following his Navy discharge in 1946, Joe enrolled in Swarthmore College,
    where he played varsity soccer and distinguished himself as an All-American soccer
    player and Olympic alternate. He graduated with a B.S. in psychology in 1949. After college, Joe joined his father’s firm, D
    & W Blueprint, in Trenton, NJ, expanding the business first to a complete
    reprographics business and, then, to the largest reprographics business in the
    State of New Jersey.
    In January 1970 Joe met Barbara Bates and the
    two began a beautiful romance that would last over 46 years. They married in
    July of that year aboard the Leonardo da Vinci in New York Harbor and sailed to
    Europe where they honeymooned in Italy before taking up residence first in
    Morristown, NJ, and then in Barrington, IL. Their life has been a beautiful
    love story between two wonderful friends, witnessed and admired by many. Joe was hired in 1969 by Keuffel and Esser, an
    engineering supply company, as their vice-president of marketing. Shortly
    thereafter, Teledyne Post, hired Joe away from K & E as president of
    Teledyne Post in Des Plaines, IL. Joe quickly distinguished himself and soon
    became known as the Teledyne “turn-around” specialist, adding to his
    charge eight additional companies. He reworked these eight struggling entities
    until they were out of financial trouble and brought them all back to
    profitable status. Among his many professional accomplishments, Joe was granted
    a patent for his development of erasable vellum paper. Joe served as the
    president for the National Coaters Associations. He also served as keynote
    speaker and in leadership positions for the International Association of Blue
    Printers and Allied Industries, in demand by all six regional reprographics
    organizations; Joe D’Annunzio was truly a giant in the industry
    .
    During this period Joe lived in Barrington, IL, and traveled extensively for
    business. He served as a member of the Board of Directors of the Illinois
    Central Railroad. He was a member of the Barrington Hills Country Club, Chicago
    Horticultural Society, Barrington Presbyterian Church, Barrington Play Reading
    Group, The Meadow Tennis Club, Fox Point Bridge and Tennis Club. He was also
    the owner and CEO of Northstar Reprographics in Eden Prairie, MN. Following
    retirement from Teledyne, Joe and Barbara moved to Tallahassee where Joe
    entered Florida State College of Law at the age of 72. He graduated at age 75,
    passed the bar exam and was sworn in on New Year’s Day 2000, by Florida Supreme
    Court Chief Justice Major Harding. Joe D’Annunzio was the first new Florida
    attorney of the new millennium. Joe favored employment law and worked both in
    companies and as a sole practitioner, finally retiring at 87. He served on the
    Executive Board of the Golden Eagle Homes Association and was a member of
    Christ Presbyterian Church. He enjoyed all the musical events at FSU especially
    the Tallahassee Community Chorus and traveled with the chorus to Carnegie Hall
    and to China. Joe loved pro football and was a faithful Patriots fan. He was
    proud supporter of Jimbo Bo Fisher and the Florida State Football program. For
    16 years Joe was always in the company of his devoted black Lab Puccini who
    proceeded him in death in August 2016. Puccini and Joe were truly devoted to
    one another. Joe was a total Renaissance man and enjoyed opera, bridge,
    computers, sailing, astronomy, theatre, downhill skiing, and business, among
    others things. He had the privilege of serving as a supernumerary at the
    Metropolitan Opera in New York City for several seasons. In appearance he was
    sartorially elegant and well-lettered. On this paternal side, he descended from
    the Italian Baron and Baronessa Cauli from the Italian town of Casalanguida in
    the province of Chieti in the Abruzzo region of Italy. Additionally, it is
    rumored that he is related to the late raconteur, poet, novelist, war hero, and
    lover, Gabrielle D’Annunzio (perhaps a paternal cousin). Joe was preceded in
    death, by his mother, Lillian Decrescenzo D’Annunzio, his father, Joseph
    Carlyle D’Annunzio Sr. by his sister, Lola, a Broadway /film actress, and by
    his Aunt Jean “Jenny” Denow of Lawrenceville, NJ, and Tallahassee,
    FL. He is survived by his devoted and loving wife, Barbara Bates D’Annunzio of
    Tallahassee. Also surviving are his older sister, Lillian D’Annunzio Keephart
    of Ewing, NJ; devoted nephew, William Joseph Keephart; devoted niece, Lydia
    Fabbro Keephart, Little Nell Keephart, Lawrenceville, NJ; Jonathan Fabbro Keephart,
    Alexandra Salerno Keephart, Atlas Henry Keephart, Malvern, PA; a niece, Jo Ann
    Keephart and Dave Stradling, Hamilton, NJ; daughter, Gabrielle D’Annunzio Burke
    and Lawrence J. Burke of Santa Fe, NM; daughter, Jolie D’Annunzio, San
    Francisco, CA; son, Sandy Joseph D’Annunzio, Janet Erley D’Annunzio, David
    D’Annunzio, Lisa Claire D’Annunzio Thurber, Kaleb Thurber, of Piedmont, CA;
    Christine Fabbro Brunner, Daniel Brunner, Harper Elizabeth Brunner, and Hunter
    Leo Brunner, of New York City; Elizabeth Brunner, New Canaan, CT; Glenda
    Fabbro, Indian Shores, FL; Michael Allen Tierney, Marcy Olin Tierney, of New
    York City; Joseph Patrick Tierney, Eleanor “Elly” Tierney, of
    Annapolis, MD; a loving cousin, in Aloha, OR, Louise Jinglesse DeCrescenzo Bohr
    and Mark Bohr; Sadiye Bedestani, of Yardville, NJ; devoted caregivers, Vicky
    McNair and Leroy McNair, as well as a sister-in law in Tallahassee, Patricia
    Bates Trotta and Joseph Anthony Trotta. Additionally he had a host of dear
    friends in Tallahassee, the Chicago area and in New Jersey. A Celebration of
    Life service for Joe will be held later this spring in Lawrenceville, NJ. The
    visitation for Joe will be held at Christ Presbyterian Church on 2317 Bannerman
    Road on April 7 from 6 to 8 p.m. The funeral service will be the following day,
    April 8, at 2 p.m. at Christ Presbyterian Church, with interment immediately
    following at Culley’s Meadowwood on Timberlane Road. In lieu of flowers,
    contributions can be made to: FSU College of Law, 425 Jefferson Street,
    Tallahassee, FL 32301; Tallahassee Community Chorus, P.O. Box 13083,
    Tallahassee, FL 32317-3083; Christ Presbyterian Church, 2317 Bannerman Road
    Tallahassee, FL 32312; Big Bend Hospice, 1723 Mahan Center Boulevard,
    Tallahassee, FL 32308-5428 Arrangements are being handled by Culley’s
    MeadowWood, 700 Timberlane Road, Tallahassee, FL (850) 893-4177.
  •  ARC Document Solutions Inc Forecasted to Earn Q1 2017 Earnings
    of $0.04 Per Share (ARC)
    April 12th, 2017 – By Renee Jackson

    0
    0
    1
    122
    700
    Proactive Management
    5
    1
    821
    14.0

    Normal
    0

    false
    false
    false

    EN-US
    JA
    X-NONE

    /* Style Definitions */
    table.MsoNormalTable
    {mso-style-name:”Table Normal”;
    mso-tstyle-rowband-size:0;
    mso-tstyle-colband-size:0;
    mso-style-noshow:yes;
    mso-style-priority:99;
    mso-style-parent:””;
    mso-padding-alt:0in 5.4pt 0in 5.4pt;
    mso-para-margin:0in;
    mso-para-margin-bottom:.0001pt;
    mso-pagination:widow-orphan;
    font-size:10.0pt;
    font-family:Cambria;
    mso-ascii-font-family:Cambria;
    mso-ascii-theme-font:minor-latin;
    mso-hansi-font-family:Cambria;
    mso-hansi-theme-font:minor-latin;
    mso-fareast-language:JA;}

    ARC Document Solutions Inc (NYSE:ARC) – Stock analysts at B. Riley
    issued their Q1 2017 earnings estimates for shares of ARC Document Solutions in
    a note issued to investors on Monday, according to Zacks Investment
    Research
    . B. Riley analyst I. Corydon anticipates that the company
    will post earnings of $0.04 per share for the quarter. B. Riley currently has a
    “Buy” rating and a $5.00 price target on the stock. B. Riley also issued
    estimates for ARC Document Solutions’ Q2 2017 earnings at $0.05 EPS, Q3 2017
    earnings at $0.05 EPS, Q4 2017 earnings at $0.06 EPS and FY2017 earnings at
    $0.20 EPS.
  • Zacks frequently upgrades and
    downgrades ARC’s stock, so I wouldn’t put too much thinking into Zack’s
    upgrades and downgrades.
    From an article on the web this
    morning…..
    ARC Document Solutions Inc (ARC) Downgraded by Zacks
    Investment Research,
    Posted by David Glaser on Apr 14th,
    2017
    Zacks Investment Research lowered shares of ARC Document
    Solutions Inc (NYSE:ARC) from a buy rating to a hold rating in a report issued
    on Tuesday.
    According to Zacks, “ARC Document Solutions Inc. is a
    document solutions company providing business-to-business document management
    technology and services to the architectural, engineering and construction, or
    AEC industries. It also provides document management services to companies in
    non-AEC industries, such as technology, financial services, retail,
    entertainment, and food and hospitality. The Company provides services that
    include scanning, imaging, and managing black and white and color documents.
    ARC Document Solutions Inc., formerly known as American Reprographics Company,
    is headquartered in Walnut Creek, California. “
    Separately, B. Riley reaffirmed a buy rating and set a
    $5.00 price objective on shares of ARC Document Solutions in a research report
    on Saturday, March 25th.
    Shares of ARC Document Solutions (NYSE:ARC) opened at 3.48 on Tuesday.
    ARC Document Solutions has a 12 month low of $3.06 and a 12 month high of
    $5.55. The stock’s market capitalization is $160.12 million.
    The company’s 50 day moving average price is $3.90 and its
    200 day moving average price is $4.27.
    ARC Document Solutions (NYSE:ARC) last posted its
    quarterly earnings data on Tuesday, February 21st. The company reported $0.06
    earnings per share for the quarter, topping analysts’ consensus estimates of
    $0.05 by $0.01. ARC Document Solutions had a positive return on equity of 7.55%
    and a negative net margin of 11.50%. The company earned $98.60 million during
    the quarter, compared to analysts’ expectations of $95.60 million. During the
    same period last year, the firm earned $0.07 EPS. The firm’s revenue for the
    quarter was down 5.6% on a year-over-year basis. Equities analysts anticipate
    that ARC Document Solutions will post $0.24 earnings per share for the current
    fiscal year.

    0
    0
    1
    573
    3271
    Proactive Management
    27
    7
    3837
    14.0

    Normal
    0

    false
    false
    false

    EN-US
    JA
    X-NONE

    /* Style Definitions */
    table.MsoNormalTable
    {mso-style-name:”Table Normal”;
    mso-tstyle-rowband-size:0;
    mso-tstyle-colband-size:0;
    mso-style-noshow:yes;
    mso-style-priority:99;
    mso-style-parent:””;
    mso-padding-alt:0in 5.4pt 0in 5.4pt;
    mso-para-margin:0in;
    mso-para-margin-bottom:.0001pt;
    mso-pagination:widow-orphan;
    font-size:10.0pt;
    font-family:Cambria;
    mso-ascii-font-family:Cambria;
    mso-ascii-theme-font:minor-latin;
    mso-hansi-font-family:Cambria;
    mso-hansi-theme-font:minor-latin;
    mso-fareast-language:JA;}

    Several hedge funds have recently bought and sold shares
    of the stock. First Quadrant L P CA boosted its stake in ARC Document Solutions
    by 393.8% in the third quarter. First Quadrant L P CA now owns 160,475 shares
    of the company’s stock valued at $600,000 after buying an additional 127,975
    shares in the last quarter. California Public Employees Retirement System
    boosted its stake in ARC Document Solutions by 37.6% in the third quarter.
    California Public Employees Retirement System now owns 117,800 shares of the
    company’s stock valued at $441,000 after buying an additional 32,200 shares in
    the last quarter. Punch & Associates Investment Management Inc. boosted its
    stake in ARC Document Solutions by 0.7% in the third quarter. Punch &
    Associates Investment Management Inc. now owns 1,035,575 shares of the
    company’s stock valued at $3,873,000 after buying an additional 7,198 shares in
    the last quarter. JPMorgan Chase & Co. boosted its stake in ARC Document
    Solutions by 101,428.9% in the third quarter. JPMorgan Chase & Co. now owns
    875,179 shares of the company’s stock valued at $3,273,000 after buying an
    additional 874,317 shares in the last quarter. Finally, LSV Asset Management boosted
    its stake in ARC Document Solutions by 20.0% in the third quarter. LSV Asset
    Management now owns 294,415 shares of the company’s stock valued at $1,101,000
    after buying an additional 49,000 shares in the last quarter. 73.92% of the
    stock is owned by institutional investors and hedge funds.
  • by Bill McBride on 4/11/2017 03:45:00 PM
    In 2013, Bill McBride, publisher of
    the very popular finance/economics blog known as “Calculated Risk”, wrote an
    article that talked about “the next” upcoming recession.
    Today, he updated that article, and,
    below, you will find the last paragraph from that update:
    “[CR April 2017 Update: This was
    written in 2013 – and my prediction for no “recession for a few years”
    was correct.  This still seems correct today, so no recession in the
    immediate future (not in 2017). 
    ]”
    Link to full article:

    0
    0
    1
    127
    726
    Proactive Management
    6
    1
    852
    14.0

    Normal
    0

    false
    false
    false

    EN-US
    JA
    X-NONE

    /* Style Definitions */
    table.MsoNormalTable
    {mso-style-name:”Table Normal”;
    mso-tstyle-rowband-size:0;
    mso-tstyle-colband-size:0;
    mso-style-noshow:yes;
    mso-style-priority:99;
    mso-style-parent:””;
    mso-padding-alt:0in 5.4pt 0in 5.4pt;
    mso-para-margin:0in;
    mso-para-margin-bottom:.0001pt;
    mso-pagination:widow-orphan;
    font-size:10.0pt;
    font-family:Cambria;
    mso-ascii-font-family:Cambria;
    mso-ascii-theme-font:minor-latin;
    mso-hansi-font-family:Cambria;
    mso-hansi-theme-font:minor-latin;
    mso-fareast-language:JA;}

  • DrawingView……..
    Construction Project Management App
    & Software for Architects and Contractors
    More than 5000 Contractors and
    Architects use DrawingView Software for their projects. It is loved by
    Architects, General Contractors, Engineers, Sub Contractors, and Project
    Managers. #1 iPhone & iPad App for Punch List, RFI, and Construction Reports.
    Link to web-site:

    0
    0
    1
    65
    372
    Proactive Management
    3
    1
    436
    14.0

    Normal
    0

    false
    false
    false

    EN-US
    JA
    X-NONE

    /* Style Definitions */
    table.MsoNormalTable
    {mso-style-name:”Table Normal”;
    mso-tstyle-rowband-size:0;
    mso-tstyle-colband-size:0;
    mso-style-noshow:yes;
    mso-style-priority:99;
    mso-style-parent:””;
    mso-padding-alt:0in 5.4pt 0in 5.4pt;
    mso-para-margin:0in;
    mso-para-margin-bottom:.0001pt;
    mso-pagination:widow-orphan;
    font-size:10.0pt;
    font-family:Cambria;
    mso-ascii-font-family:Cambria;
    mso-ascii-theme-font:minor-latin;
    mso-hansi-font-family:Cambria;
    mso-hansi-theme-font:minor-latin;
    mso-fareast-language:JA;}

  • ARC very recently filed its annual 10K Report
    with the SEC, and I decided to take a quick scroll through the 10K.
    These are my takeaways on some of the “numbers
    within the numbers”:

    From “Revenue Recognition” (page F-12 of 10K)


    “Revenues from hosted software
    licensing activities are recognized ratably over the term of the license.
    Revenues from software licensing activities comprise less than 1% of the
    Company’s consolidated revenues during the years ended December 31, 2016 , 2015
    and 2014.”


    Total
    Sales
    Percent of Sales attributable to
    Software Licensing activities
    $Range of Sales attributable to Software
    Licensing activities
    Year
    2016
    $406.32
    mil
    “Less than 1%”
    $1.00 – $4.06 mil
    Year
    2015
    $428.67
    mil
    “Less than 1%”
    $1.00 – $4.29 mil
    Year
    2014
    $423.76
    mil
    “Less than 1%”
    $1.00 – $4.24 mil
    Blog Publisher’s Comments:
    In its Sales (revenue) reporting by
    “segment”, ARC does not specifically break out revenues specifically
    attributable to Skysite, Planwell and Abacus. 
    Instead, sales of those (ARC technology products/services) are included
    in ARC’s CDIM revenue segment.
    However, given that ARC has made it very
    clear to the industry that it is pursuing technology revenues to hopefully
    replace print revenues – the difficult transition that ARC’s management team
    has been referring to in recent earnings calls – one wonders (at least I do)
    how ARC is fairing, sales-wise, with regard to its technology products/services.  In the 10K, ARC stated that its revenues – in
    2016, 2015, and 2014 – from software licensing activities were “less than
    1%.  If that’s so, that means that for
    year 2016 ARC’s sales of technology products/services (Skysite, Planwell,
    Abacus) ranged somewhere between $1.00 (on the low end) and $4.06 million (on
    the high end.)
    If Sales of Skysite “breakout”, at some point
    down the road, you will, in future 10K reports, see ARC state that Sales
    attributable to Software Licensing activities have grown beyond 1%.
    Before
    you read the “Geographic Reporting” numbers below, first read these two
    paragraphs, which were taken from the 10K:
    “Our products
    and services are available from any of our 177 service centers around the
    world, and nearly all of our services can be made available in our customers’
    offices.  Our geographic presence is
    concentrated in the U.S., with additional service centers in Canada, China,
    India and the United Kingdom.”
    “At the end
    of 2016, we operated 177 service centers, of which 147 were in the U.S., 10
    were in Canada, 16 were in China, 1 was in London (UK), 2 were in India and 1
    was in the United Arab Emirates.”
    From “Geographic Reporting” (page
    F-13 of 10K)

    “The Company recognizes revenues
    in geographic areas based on the location to which the product was shipped or
    services have been rendered. Operations outside the United States have
    historically been small. See table below for revenues and long-lived assets,
    net, excluding intangible assets, attributable to the Company’s U.S. operations
    and foreign operations.”


    Total
    Sales
    Non-US
    Sales
    US Sales
    Year
    2016
    $406.32
    mil
    $53.24
    mil
    $353.08 mil
    Year
    2015
    $428.67
    mil
    $62.58
    mil
    $366.09 mil
    Year
    2014
    $423.76
    mil
    $59.37
    mil
    $364.39 mil



    “Research and Development Expenses” (page F-14 of 10K)


    “Research and development
    activities relate to costs associated with the design and testing of new
    technology or enhancements and maintenance to existing technology. Such costs
    are expensed as incurred are primarily recorded to cost of sales. In total, research
    and development amounted to $6.2 million , $5.8 million and $6.3 million during
    the fiscal years ended December 31, 2016 , 2015 and 2014 , respectively.”


    Blog Publisher’s Comments:

    0
    0
    1
    616
    3517
    Proactive Management
    29
    8
    4125
    14.0

    Normal
    0

    false
    false
    false

    EN-US
    JA
    X-NONE

    /* Style Definitions */
    table.MsoNormalTable
    {mso-style-name:”Table Normal”;
    mso-tstyle-rowband-size:0;
    mso-tstyle-colband-size:0;
    mso-style-noshow:yes;
    mso-style-priority:99;
    mso-style-parent:””;
    mso-padding-alt:0in 5.4pt 0in 5.4pt;
    mso-para-margin:0in;
    mso-para-margin-bottom:.0001pt;
    mso-pagination:widow-orphan;
    font-size:10.0pt;
    font-family:Cambria;
    mso-ascii-font-family:Cambria;
    mso-ascii-theme-font:minor-latin;
    mso-hansi-font-family:Cambria;
    mso-hansi-theme-font:minor-latin;
    mso-fareast-language:JA;}
    table.MsoTableGrid
    {mso-style-name:”Table Grid”;
    mso-tstyle-rowband-size:0;
    mso-tstyle-colband-size:0;
    mso-style-priority:59;
    mso-style-unhide:no;
    border:solid windowtext 1.0pt;
    mso-border-alt:solid windowtext .5pt;
    mso-padding-alt:0in 5.4pt 0in 5.4pt;
    mso-border-insideh:.5pt solid windowtext;
    mso-border-insidev:.5pt solid windowtext;
    mso-para-margin:0in;
    mso-para-margin-bottom:.0001pt;
    mso-pagination:widow-orphan;
    font-size:10.0pt;
    font-family:Cambria;
    mso-ascii-font-family:Cambria;
    mso-ascii-theme-font:minor-latin;
    mso-hansi-font-family:Cambria;
    mso-hansi-theme-font:minor-latin;
    mso-fareast-language:JA;}

    Based on the information presented in the
    above paragraph and based on information ARC presented in the paragraph that
    indicated that ARC’s revenues from Software Licensing activities are less than
    1% of total sales revenues, it does appear that ARC’s expense for R&D of
    its technology products/services exceeds the revenues that ARC is currently
    generating from technology products/services
    .  Look for that situation to change if ARC’s Skysite “breaks out.”

  • From a note on March 2nd, 2017, posted on constructionweekonline.com….
    UAE-based construction firm
    Dutco has finalized the acquisition of the minority shares held by Balfour
    Beatty plc within its joint companies Dutco Balfour Beatty LLC, Dutco
    Construction Company LLC and BK Gulf LLC.

    0
    0
    1
    66
    382
    Proactive Management
    3
    1
    447
    14.0

    Normal
    0

    false
    false
    false

    EN-US
    JA
    X-NONE

    /* Style Definitions */
    table.MsoNormalTable
    {mso-style-name:”Table Normal”;
    mso-tstyle-rowband-size:0;
    mso-tstyle-colband-size:0;
    mso-style-noshow:yes;
    mso-style-priority:99;
    mso-style-parent:””;
    mso-padding-alt:0in 5.4pt 0in 5.4pt;
    mso-para-margin:0in;
    mso-para-margin-bottom:.0001pt;
    mso-pagination:widow-orphan;
    font-size:10.0pt;
    font-family:Cambria;
    mso-ascii-font-family:Cambria;
    mso-ascii-theme-font:minor-latin;
    mso-hansi-font-family:Cambria;
    mso-hansi-theme-font:minor-latin;
    mso-fareast-language:JA;}

    As to Balfour Beatty….the company has, so far, pulled out
    of the Middle East, Indonesia, and Australia since the beginning of 2015…. to
    focus on its chosen markets of the UK, US, and Far East.
  • According to
    updated profile information I received via LinkedIn this afternoon,
    Todd Moore was recently named National Director – Facility Solutions” at ARC
    Technology Solutions
    (a unit of ARC Document Solutions). 
    Per LinkedIn, this took place in December 2016.
    “ARC Technology
    Solutions delivers game-changing productivity improvements for the Facilities
    and Construction Industries through a combination of software, mobile apps and
    unique services. Our customers can get accurate facilities and construction
    information instantly, anytime, anywhere and on any device throughout a
    building’s lifecycle. Our Construction solution includes 3D visualizations and
    cloud-based close-out documents to win more projects; BIM modeling services to
    identify and resolve conflicts before construction starts; and SKYSITE software
    and mobile apps to enable your construction teams to store, organize, access,
    markup, sync and easily share and track ALL your project documents, anytime,
    anywhere and on any device. Our Facilities solution includes scanning your
    large and small format documents; adding indexing and intelligent navigation so
    you can find exactly what you need; and providing anytime, anywhere access to
    your critical facilities’ information through our cloud-based SKYSITE software
    and mobile apps. www.e-arc.com
     www.skysite.com
    Blog Publisher’s
    comment:
    Todd Moore has
    been on the ARC team since June 2004.
    From June 1999 until June 2004, Todd was on
    the Print-O-Stat team.
    And, from March 1995 until June 1999, Todd
    was General Manager of Lancaster (PA) Blueprint Company.

    0
    0
    1
    259
    1478
    Proactive Management
    12
    3
    1734
    14.0

    Normal
    0

    false
    false
    false

    EN-US
    JA
    X-NONE

    /* Style Definitions */
    table.MsoNormalTable
    {mso-style-name:”Table Normal”;
    mso-tstyle-rowband-size:0;
    mso-tstyle-colband-size:0;
    mso-style-noshow:yes;
    mso-style-priority:99;
    mso-style-parent:””;
    mso-padding-alt:0in 5.4pt 0in 5.4pt;
    mso-para-margin:0in;
    mso-para-margin-bottom:.0001pt;
    mso-pagination:widow-orphan;
    font-size:10.0pt;
    font-family:Cambria;
    mso-ascii-font-family:Cambria;
    mso-ascii-theme-font:minor-latin;
    mso-hansi-font-family:Cambria;
    mso-hansi-theme-font:minor-latin;
    mso-fareast-language:JA;}

    Congrats to Todd on his promotion within the
    ARC organization.