Acura Pharmaceuticals, Inc. (ACUR) swung to a net profit for the quarter ended Dec. 31, 2016. The company has made a net profit of $1.53 million, or $ 0.13 a share in the quarter, against a net loss of $0.92 million, or $0.08 a share in the last year period.
Revenue during the quarter surged 40.54 percent to $3.76 million from $2.68 million in the previous year period. Gross margin for the quarter contracted 11 basis points over the previous year period to 96.23 percent. Operating margin for the quarter period stood at positive 45.92 percent as compared to a negative 26.50 percent for the previous year period.
Operating income for the quarter was $1.73 million, compared with an operating loss of $0.71 million in the previous year period.
Working capital drops significantly
Acura Pharmaceuticals, Inc. has witnessed a decline in the working capital over the last year. It stood at $2.42 million as at Dec. 31, 2016, down 77.75 percent or $8.47 million from $10.89 million on Dec. 31, 2015. Current ratio was at 1.69 as on Dec. 31, 2016, down from 4.36 on Dec. 31, 2015.
Debt comes down significantly
Acura Pharmaceuticals, Inc. has recorded a decline in total debt over the last one year. It stood at $5.36 million as on Dec. 31, 2016, down 30.90 percent or $2.39 million from $7.75 million on Dec. 31, 2015. Total debt was 65.24 percent of total assets as on Dec. 31, 2016, compared with 45.69 percent on Dec. 31, 2015. Debt to equity ratio was at 4.53 as on Dec. 31, 2016, up from 0.98 as on Dec. 31, 2015.
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