Black Diamond (BDE) saw its loss narrow to $0.40 million, or $0.01 a share for the quarter ended Sep. 30, 2016. In the previous year period, the company reported a loss of $49.70 million, or $1.52 a share. On the other hand, adjusted net income for the quarter stood at $1.72 million, or $0.06 a share compared with $0.68 million or $0.02 a share, a year ago. Revenue during the quarter went up marginally by 0.47 percent to $39.44 million from $39.26 million in the previous year period. Gross margin for the quarter contracted 475 basis points over the previous year period to 31.28 percent. Operating margin for the quarter period stood at positive 1.45 percent as compared to a negative 2.13 percent for the previous year period.
Operating income for the quarter was $0.57 million, compared with an operating loss of $0.84 million in the previous year period.
However, the adjusted EBITDA for the quarter stood at $1.69 million compared with $1.05 million in the prior year period. At the same time, adjusted EBITDA margin improved 161 basis points in the quarter to 4.29 percent from 2.68 percent in the last year period.
Black Diamond forecasts revenue to be in the range of $145 million to $150 million for fiscal year 2016.
Working capital declinesBlack Diamond has witnessed a decline in the working capital over the last year. It stood at $127.37 million as at Sep. 30, 2016, down 14.15 percent or $21 million from $148.36 million on Sep. 30, 2015. Current ratio was at 3.93 as on Sep. 30, 2016, down from 4.86 on Sep. 30, 2015. Days sales outstanding went down to 64 days for the quarter compared with 69 days for the same period last year.
Days inventory outstanding has decreased to 77 days for the quarter compared with 213 days for the previous year period.
Debt moves up
Black Diamond has witnessed an increase in total debt over the last one year. It stood at $21.44 million as on Sep. 30, 2016, up 8.66 percent or $1.71 million from $19.73 million on Sep. 30, 2015. Short-term debt stood at $21.44 million as on Sep. 30, 2016. Total debt was 9.96 percent of total assets as on Sep. 30, 2016, compared with 7.47 percent on Sep. 30, 2015. Debt to equity ratio was at 0.13 as on Sep. 30, 2016, up from 0.10 as on Sep. 30, 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
