Amber Road, Inc (AMBR) saw its loss narrow to $4.41 million, or $0.16 a share for the quarter ended Mar. 31, 2017. In the previous year period, the company reported a loss of $5.69 million, or $0.22 a share. On the other hand, adjusted net loss for the quarter narrowed to $3.17 million, or $0.12 a share from a loss of $4 million or $0.15 a share, a year ago. Revenue during the quarter grew 9.37 percent to $18.55 million from $16.96 million in the previous year period. Gross margin for the quarter expanded 248 basis points over the previous year period to 49.33 percent. Operating margin for the quarter stood at negative 21.52 percent as compared to a negative 32.04 percent for the previous year period.
Operating loss for the quarter was $3.99 million, compared with an operating loss of $5.44 million in the previous year period.
However, the adjusted operating loss for the quarter stood at $2.75 million compared to operating loss of $3.75 million in prior year period.
Jim Preuninger, chief executive officer of Amber Road, stated, “We are off to a strong start to 2017. We are benefiting from the strategic investments we have made over the past several years to grow our global footprint, focus on verticals demonstrating exceptional demand, expand our product offerings, and extend our competitive differentiation with more trade content that is integrated to our software. Our flexible platform provides our customers with the capability to adapt to the ever-changing global supply chain and manage their global business more effectively. We are building momentum and are well positioned for a strong year.”
For the second-quarter, Amber Road, Inc expects revenue to be in the range of $19.40 million to $20 million. Amber Road, Inc expects revenue to be in the range of $80.30 million to $83.30 million for financial year 2017. The company expects operating loss to be in the range of $5.30 million to $4.70 million for the second-quarter. For fiscal year 2017, the company expects operating loss to be in the range of $15.50 million to $12.50 million. The company expects adjusted operating loss to be in the range of $3.80 million to $3.20 million for the second-quarter. For fiscal year 2017, the company expects adjusted operating loss to be in the range of $10 million to $7 million. The company projects diluted loss per share to be in the range of $0.21 to $0.19 for the second-quarter. For financial year 2017, the company projects diluted loss per share to be in the range of $0.64 to $0.53. On an adjusted basis, the company projects diluted loss per share to be in the range of $0.16 to $0.14 for the second-quarter. For financial year 2017, the company projects diluted loss per share to be in the range of $0.44 to $0.33 on adjusted basis.
Operating cash flow drops significantly
Amber Road, Inc has generated cash of $0.79 million from operating activities during the quarter, down 74.03 percent or $ 2.26 million, when compared with the last year period. The company has spent $0.50 million cash to meet investing activities during the quarter as against cash outgo of $0.69 million in the last year period.
The company has spent $0.57 million cash to carry out financing activities during the quarter as against cash outgo of $2.11 million in the last year period.
Cash and cash equivalents stood at $15.01 million as on Mar. 31, 2017, down 14.69 percent or $2.59 million from $17.60 million on Mar. 31, 2016.
Working capital remains negative
Working capital of Amber Road, Inc was negative $14.35 million on Mar. 31, 2017 compared with negative $4.80 million on Mar. 31, 2016. Current ratio was at 0.73 as on Mar. 31, 2017, down from 0.89 on Mar. 31, 2016.
Days sales outstanding went down to 87 days for the quarter compared with 94 days for the same period last year.
At the same time, days payable outstanding was almost stable at 16 days for the quarter, when compared with the previous year period.
Debt moves up
Amber Road, Inc has witnessed an increase in total debt over the last one year. It stood at $23.38 million as on Mar. 31, 2017, up 12.37 percent or $2.57 million from $20.81 million on Mar. 31, 2016. Total debt was 21.89 percent of total assets as on Mar. 31, 2017, compared with 18.94 percent on Mar. 31, 2016. Debt to equity ratio was at 0.80 as on Mar. 31, 2017, up from 0.52 as on Mar. 31, 2016.
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