American Renal Associates Holdings (ARA) has reported 202.66 percent jump in profit for the quarter ended Sep. 30, 2016. The company has earned $12.42 million, or $0.34 a share in the quarter, compared with $4.10 million, or $0.18 a share for the same period last year.
Revenue during the quarter grew 14.89 percent to $192.96 million from $167.95 million in the previous year period. Total expenses were 84.06 percent of quarterly revenues, up from 76.96 percent for the same period last year. That has resulted in a contraction of 710 basis points in operating margin to 15.94 percent.
Operating income for the quarter was $30.75 million, compared with $38.69 million in the previous year period.
However, the adjusted EBITDA for the quarter stood at $56.15 million compared with $49.17 million in the prior year period. At the same time, adjusted EBITDA margin contracted 17 basis points in the quarter to 29.10 percent from 29.28 percent in the last year period.
Joseph (Joe) Carlucci, chairman and chief executive officer, said, "Our organization delivered strong third quarter performance, and these results further demonstrate the continued momentum of our physician partnership model. I am proud of the collective efforts of the ARA team. ARA’s dedicated staff remained focused on our Company’s first priority " delivering the highest quality patient care."
Operating cash flow improves significantlyAmerican Renal Associates Holdings has generated cash of $141.90 million from operating activities during the nine month period, up 35.77 percent or $37.38 million, when compared with the last year period. The company has spent $51.13 million cash to meet investing activities during the nine month period as against cash outgo of $38.50 million in the last year period.
The company has spent $76.62 million cash to carry out financing activities during the nine month period as against cash outgo of $37.65 million in the last year period.
Cash and cash equivalents stood at stood at $105.15 million as at Sep. 30, 2016.
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