Attunity Ltd (ATTU) saw its loss narrow to $1.47 million, or $0.09 a share for the quarter ended Mar. 31, 2017. In the previous year period, the company reported a loss of $3.59 million, or $0.22 a share. On the other hand, adjusted net loss for the quarter narrowed to $0.40 million, or $0.02 a share from a loss of $1.74 million or $0.10 a share, a year ago. Revenue during the quarter grew 17.85 percent to $13.84 million from $11.74 million in the previous year period. Gross margin for the quarter expanded 250 basis points over the previous year period to 84.97 percent. Operating margin for the quarter stood at negative 4.48 percent as compared to a negative 27.30 percent for the previous year period.
Operating loss for the quarter was $0.62 million, compared with an operating loss of $3.20 million in the previous year period.
However, the adjusted operating profit for the quarter stood at $0.54 million compared to operating loss of $1.07 million in prior year period.
“The first quarter of 2017 represents record first quarter results, including a 25% increase in license revenue, an 18% increase in total revenue, and strong cash flow from operations,” stated Shimon Alon, chairman and chief executive officer of Attunity. "Our suite of Big Data solutions, including the recently launched Replicate for SAP, continues to set us apart as innovators in the market. The importance of our solutions in the Big Data, data lakes and cloud markets are increasingly being validated by our customers. As a result, the growing brand awareness of Attunity and market demand for our solutions from new and current customers is helping us to achieve our goals.”
Operating cash flow turns positive
Attunity Ltd has generated cash of $2.93 million from operating activities during the quarter as against cash outgo of $2.36 million in the last year period. The company has spent $0.08 million cash to meet investing activities during the quarter as against cash outgo of $0.21 million in the last year period.
The company has spent $0.07 million cash to carry out financing activities during the quarter as against cash inflow of $0.05 million in the last year period.
Cash and cash equivalents stood at $11.95 million as on Mar. 31, 2017, up 19.29 percent or $1.93 million from $10.02 million on Mar. 31, 2016.
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