Attunity (ATTU) swung to a net loss for the quarter ended Dec. 31, 2016. The company has made a net loss of $0.24 million, or $ 0.01 a share in the quarter, against a net profit of $0.42 million, or $0.02 a share in the last year period. On an adjusted basis, net profit for the quarter was $1.10 million, when compared with net loss $0.02 million in the last year period.
Revenue during the quarter grew 21.51 percent to $15.57 million from $12.81 million in the previous year period. Gross margin for the quarter expanded 302 basis points over the previous year period to 86.45 percent. Total expenses were 98.74 percent of quarterly revenues, up from 98.21 percent for the same period last year. That has resulted in a contraction of 54 basis points in operating margin to 1.26 percent.
Operating income for the quarter was $0.20 million, compared with $0.23 million in the previous year period.
"The fourth quarter delivered solid financial results, including 22% increase of revenue, compared to the same period in 2015, and positive cash flow. This growth was driven by several new customer engagements closed during the quarter, including two that are valued at more than $1 million each. These agreements represent just a portion of the demand that we believe exists in the market for our data integration solutions supporting customers' Hadoop and data lake environments," said Shimon Alon, chairman and chief executive officer of Attunity.
For fiscal year 2017, the company expects adjusted operating income to grow in the range of 5 percent to 8 percent.
Operating cash flow turns negativeAttunity has spent $0.82 million cash to meet operating activities during the year as against cash inflow of $4.92 million in the last year. The company has spent $0.46 million cash to meet investing activities during the year as against cash outgo of $10.60 million in the last year.
The company has spent $1.87 million cash to carry out financing activities during the year as against cash outgo of $0.67 million in the last year period.
Cash and cash equivalents stood at $9.17 million as on Dec. 31, 2016, down 26.80 percent or $3.36 million from $12.52 million on Dec. 31, 2015.
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