Avalon Holdings Corporation (AWX) saw its loss widen to $0.39 million, or $0.10 a share for the quarter ended Dec. 31, 2016. In the previous year period, the company reported a loss of $0.20 million, or $0.05 a share. Revenue during the quarter grew 12.41 percent to $15.58 million from $13.86 million in the previous year period. Gross margin for the quarter contracted 20 basis points over the previous year period to 17.11 percent. Operating margin for the quarter stood at negative 2.54 percent as compared to a negative 1.70 percent for the previous year period.
Operating loss for the quarter was $0.40 million, compared with an operating loss of $0.24 million in the previous year period.
Working capital drops significantly
Avalon Holdings Corporation has witnessed a decline in the working capital over the last year. It stood at $0.24 million as at Dec. 31, 2016, down 62.25 percent or $0.40 million from $0.64 million on Dec. 31, 2015. Current ratio was at 1.02 as on Dec. 31, 2016, down from 1.05 on Dec. 31, 2015.
Debt increases substantially
Avalon Holdings Corporation has witnessed an increase in total debt over the last one year. It stood at $12.38 million as on Dec. 31, 2016, up 48.95 percent or $4.07 million from $8.31 million on Dec. 31, 2015. Total debt was 18.23 percent of total assets as on Dec. 31, 2016, compared with 13.34 percent on Dec. 31, 2015. Debt to equity ratio was at 0.30 as on Dec. 31, 2016, up from 0.20 as 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
