Actua Corporation (ACTA) swung to a net profit for the quarter ended Dec. 31, 2016. The company has made a net profit of $107.23 million, or $ 2.94 a share in the quarter, against a net loss of $52.15 million, or $1.40 a share in the last year period. On the other hand, adjusted net loss for the quarter narrowed to $2.20 million, or $0.06 a share from a loss of $2.21 million or $0.06 a share, a year ago.
Revenue during the quarter grew 15.11 percent to $29.32 million from $25.48 million in the previous year period. Gross margin for the quarter expanded 66 basis points over the previous year period to 73.62 percent.
Operating loss for the quarter was $9.93 million, compared with an operating loss of $51.67 million in the previous year period.
However, the adjusted EBITDA for the quarter stood at negative $1.31 million compared to negative $1.73 million in the prior year second quarter. At the same time, adjusted EBITDA margin stood at negative 4.47 percent for the quarter compared to negative 6.78 percent in the last year period.
"The accelerating revenue and bookings growth we experienced in the second half of 2016 positions us for strong revenue growth in 2017," said Walter Buckley, chief executive officer of Actua. "We believe that this revenue growth, coupled with ongoing improvement in operating leverage, will continue to drive long-term stockholder value."
For financial year 2017, Actua Corporation expects revenue to be in the range of $125 million to $130 million. The company projects diluted loss per share to be in the range of $0.10 to $0.15 on adjusted basis.
Operating cash flow remains negative
Actua Corporation has spent $4.21 million cash to meet operating activities during the year as against cash outgo of $4.47 million in the last year.
Cash flow from investing activities was $115.90 million from investing activities during the year as against cash outgo of $3.90 million in the last year.
The company has spent $86.84 million cash to carry out financing activities during the year as against cash outgo of $19.35 million in the last year period.
Cash and cash equivalents stood at $97.36 million as on Dec. 31, 2016, up 34.37 percent or $24.91 million from $72.46 million on Dec. 31, 2015.
Debt remains stable
Total debt remained stable at $1.32 million as on Dec. 31, 2016, when compared with the last year. Short-term debt remained stable at $1.32 million as on Dec. 31, 2016, when compared with the last year. Total debt was 0.29 percent of total assets as on Dec. 31, 2016, compared with 0.29 percent on Dec. 31, 2015.
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