Safeguard Scientifics (SFE) swung to a net loss for the quarter ended Dec. 31, 2014. The company has made a net loss of $15.11 million, or $ 0.73 a share in the quarter, against a net profit of $23.97 million, or $0.99 a share in the last year period.
The company has not recorded any revenues for the current as well as previous quarter.
Operating loss for the quarter was $4.48 million, compared with an operating loss of $4.72 million in the previous year period.
“In 2014, we executed against our plan to achieve and maintain consistency in the amount of capital we deployed and realized; and we returned a portion of the capital generated to our shareholders by executing a significant stock repurchase,” said Stephen T. Zarrilli, president and CEO at Safeguard. “In 2014, Safeguard deployed $43.3 million in six new partner companies-InfoBionic, Propeller Health, Syapse, Transactis, Trice Medical and WebLinc.”
Working capital declines Safeguard Scientifics has witnessed a decline in the working capital over the last year. It stood at $132.29 million as at Dec. 31, 2014, down 22.62 percent or $38.67 million from $170.96 million on Dec. 31, 2013. Current ratio was at 21.17 as on Dec. 31, 2014, down from 21.91 on Dec. 31, 2013.
Debt moves up marginally
Safeguard Scientifics has witnessed an increase in total debt over the last one year. It stood at $50.56 million as on Dec. 31, 2014, up 1.23 percent or $0.62 million from $49.95 million on Dec. 31, 2013. Total debt was 15.88 percent of total assets as on Dec. 31, 2014, compared with 14.44 percent on Dec. 31, 2013. Debt to equity ratio was at 0.20 as on Dec. 31, 2014, up from 0.18 as on Dec. 31, 2013.
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