Apollo Medical Holdings (AMEH) saw its loss widen to $1.73 million, or $0.29 a share for the quarter ended Dec. 31, 2016. In the previous year period, the company reported a loss of $1.69 million, or $0.31 a share.
Revenue during the quarter surged 47.05 percent to $15.67 million from $10.66 million in the previous year period. Gross margin for the quarter contracted 173 basis points over the previous year period to 18.88 percent. Operating margin for the quarter stood at negative 10.69 percent as compared to a negative 13.69 percent for the previous year period.
Operating loss for the quarter was $1.68 million, compared with an operating loss of $1.46 million in the previous year period.
"We are pleased with our continued year-over-year and quarter-over-quarter revenue growth, as we lay the foundation for future growth," stated Warren Hosseinion, M.D., chief executive officer of Apollo Medical Holdings. "The strategic investments we have made in our population health management infrastructure continue to provide unique opportunities for the Company and our shareholders. We believe these investments will be further enhanced by the merger between ApolloMed and Network Medical Management, which is expected to be completed in the first half of this year."
Working capital drops significantlyApollo Medical Holdings has witnessed a decline in the working capital over the last year. It stood at $0.58 million as at Dec. 31, 2016, down 75.56 percent or $1.78 million from $2.36 million on Dec. 31, 2015. Current ratio was at 1.06 as on Dec. 31, 2016, down from 1.35 on Dec. 31, 2015. Days sales outstanding went down to 31 days for the quarter compared with 37 days for the same period last year.
Debt comes down significantlyApollo Medical Holdings has recorded a decline in total debt over the last one year. It stood at $0.63 million as on Dec. 31, 2016, down 46.86 percent or $0.55 million from $1.18 million on Dec. 31, 2015. Apollo Medical Holdings has recorded a decline in short-term debt over the last one year. It stood at $0.63 million as on Dec. 31, 2016, down 46.86 percent or $0.55 million from $1.18 million on Dec. 31, 2015. Total debt was 3.74 percent of total assets as on Dec. 31, 2016, compared with 8.12 percent on Dec. 31, 2015. Disclaimer: Please note that this is an auto-generated article. IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website. For queries contact: editor@irisindia.net
