Arc Logistics Partners LP (ARCX) has reported a 46.30 percent jump in profit for the quarter ended Dec. 31, 2016. The company has earned $2.83 million in the quarter, compared with $1.94 million for the same period last year.
Revenue during the quarter grew 5.44 percent to $26.40 million from $25.04 million in the previous year period. Total expenses were 83.60 percent of quarterly revenues, down from 85.52 percent for the same period last year. This has led to an improvement of 191 basis points in operating margin to 16.40 percent.
Operating income for the quarter was $4.33 million, compared with $3.63 million in the previous year period.
However, the adjusted EBITDA for the quarter stood at $13.87 million compared with $13.24 million in the prior year period. At the same time, adjusted EBITDA margin contracted 32 basis points in the quarter to 52.54 percent from 52.86 percent in the last year period.
Operating cash flow improves significantly
Arc Logistics Partners LP has generated cash of $55.64 million from operating activities during the year, up 48.63 percent or $18.20 million, when compared with the last year.
The company has spent $32.35 million cash to meet investing activities during the year as against cash outgo of $273.84 million in the last year.
The company has spent $24.57 million cash to carry out financing activities during the year as against cash inflow of $235.68 million in the last year period.
Cash and cash equivalents stood at $4.58 million as on Dec. 31, 2016, down 21.91 percent or $1.29 million from $5.87 million on Dec. 31, 2015.
Working capital increases sharply
Arc Logistics Partners LP has recorded an increase in the working capital over the last year. It stood at $3.44 million as at Dec. 31, 2016, up 70.06 percent or $1.42 million from $2.02 million on Dec. 31, 2015. Current ratio was at 1.26 as on Dec. 31, 2016, up from 1.13 on Dec. 31, 2015.
Debt moves up
Arc Logistics Partners LP has witnessed an increase in total debt over the last one year. It stood at $249 million as on Dec. 31, 2016, up 10.15 percent or $22.94 million from $226.06 million on Dec. 31, 2015. Total debt was 38.40 percent of total assets as on Dec. 31, 2016, compared with 34.86 percent on Dec. 31, 2015. Interest coverage ratio improved to 1.68 for the quarter from 1.62 for the same period last year.
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