Atlantica Yield plc (ABY) saw its loss narrow to $11.77 million, or $0.12 a share for the quarter ended Mar. 31, 2017. In the previous year period, the company reported a loss of $26.01 million, or $0.26 a share.
Revenue during the quarter dropped 3.99 percent to $198.15 million from $206.38 million in the previous year period. Gross margin for the quarter expanded 303 basis points over the previous year period to 99.46 percent. Total expenses were 61.30 percent of quarterly revenues, down from 63.47 percent for the same period last year. This has led to an improvement of 218 basis points in operating margin to 38.70 percent.
Operating income for the quarter was $76.69 million, compared with $75.39 million in the previous year period.
Operating cash flow improves marginally
Atlantica Yield has generated cash of $86.37 million from operating activities during the quarter, up 2.22 percent or $1.87 million, when compared with the last year period.
The company has spent $58.81 million cash to meet investing activities during the quarter as against cash outgo of $39.72 million in the last year period.
The company has spent $36.19 million cash to carry out financing activities during the quarter as against cash inflow of $0.64 million in the last year period.
Cash and cash equivalents stood at stood at $589.39 million as at Mar. 31, 2017.
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