ARC Document Solutions, Inc. (NYSE:ARC) Q4 2018 Earnings Conference Call - Final Transcript
Feb 26, 2019 • 05:00 pm ET
Good afternoon. My name is Kelly, and I will be your conference operator today. At this time, I'd like to welcome everyone to the ARC Fourth Quarter 2018 and Fiscal Year Ending Earnings Report Conference Call. All lines all have been placed on mute to prevent any background noise. (Operator Instructions) I would now like to turn the call over to Mr. David Stickney, Vice President of Investor Relations. Please go ahead.
Thank you, Kelly, and welcome, everyone. On the call with me today are Suri, Suriyakumar, our Chief Executive Officer; Dilantha Wijesuriya, our Chief Operating Officer; and Jorge Avalos, our Chief Financial Officer.
Our fourth quarter and fiscal year-end results for 2018 were publicized earlier today in a press release. The press release and other company materials are available from our Investor Relations pages on ARC Document Solutions website at ir.e-arc.com.
Please note that today's call will contain forward-looking statements that fall within the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements are only predictions based on information as of today, February 26, 2019, and actual results may differ materially as a result of risks and uncertainties that we highlight in our quarterly and annual SEC filings.
This call will also contain references to certain non-GAAP measures, which are reconciled in today's press release and in our Form 8-K filing. I'll now turn the call over to our CEO, Suri, Suriyakumar. Suri?
Thanks, David, and welcome, everyone. In the latter part of 2016, we made a commitment to protect our legacy revenues, while continuing to invest in technology solutions that would facilitate future growth in our business. To that end, we made meaningful investments in our legacy business, both in developing technology and acquiring new print equipment that would provide competitive advantages, greater capacity and more efficiency, both in our customers' offices and our service sectors.
Now as we report our 2018 results, we've undoubtedly demonstrated that our investments were well founded. Driven by our strong performance in CDIM, ARC delivered nearly 2% growth in annual sales in 2018. Not only we were able to capitalize and protect our revenue from print, but we grew it while continuing to develop and implement technology to support all aspects of our business.
We'd also highlight the value of our technology solutions across the board. Our facilities solution, which leverages our expertise in construction document management, continues to be embraced by large and well-known clients. It also earned several awards for the best facility software in 2018. Abacus, our print tracking software was upgraded significantly last year and will soon be operating on the cloud, dramatically expanding its on-premise and mobile capabilities.
Our MPS clients are deeply dependent on this technology, and it has proven to be a major differentiator with our competitors. In 2018,
we developed a new mobile app called ARC Print and released it to the general market less than a month ago. The app connects mobile users to our nationwide network of service