Angie's List, Inc. (ANGI) swung to a net profit for the quarter ended Mar. 31, 2017. The company has made a net profit of $1.98 million, or $ 0.03 a share in the quarter, against a net loss of $4.64 million, or $0.08 a share in the last year period.

Revenue during the quarter dropped 12.79 percent to $73.13 million from $83.86 million in the previous year period. Operating margin for the quarter period stood at positive 4.77 percent as compared to a negative 4.79 percent for the previous year period.

Operating income for the quarter was $3.49 million, compared with an operating loss of $4.02 million in the previous year period.

However, the adjusted EBITDA for the quarter stood at $10.74 million compared with $4.82 million in the prior year period. At the same time, adjusted EBITDA margin improved 894 basis points in the quarter to 14.69 percent from 5.75 percent in the last year period.

"This is an exciting day for Angie's List." said Scott Durchslag, president and chief executive officer of Angie's List. "We look forward to joining forces with HomeAdvisor and believe this merger will create compelling value for our shareholders."

Cash flow from investing activities was $2.27 million for the quarter as against cash outgo of $6.27 million in the last year period.

The company has spent $0.08 million cash to carry out financing activities during the quarter as against cash outgo of $0.18 million in the last year period.

Cash and cash equivalents stood at $28.79 million as on Mar. 31, 2017, down 18.56 percent or $6.56 million from $35.35 million on Mar. 31, 2016.