Bridgeline Digital (BLIN) saw its loss narrow to $3.44 million, or $0.20 a share for the quarter ended Sep. 30, 2016. In the previous year period, the company reported a loss of $11.48 million, or $2.59 a share. On the other hand, adjusted net loss for the quarter widened to $0.43 million, or $0.02 a share from a loss of $0.36 million or $0.08 a share, a year ago. Revenue during the quarter dropped 18.14 percent to $3.72 million from $4.55 million in the previous year period. Gross margin for the quarter expanded 895 basis points over the previous year period to 59.29 percent.
Operating loss for the quarter was $0.77 million, compared with an operating loss of $11.48 million in the previous year period.
However, the adjusted EBITDA for the quarter stood at negative $0.30 million compared with $0.02 million in the prior year period. At the same time, adjusted EBITDA margin stood at negative 8.06 percent for the quarter compared to 0.46 percent in the last year period.
"In fiscal 2016 Bridgelines iAPPS recurring revenue increased by 27.1% compared to fiscal 2015,” said Ari Kahn, Bridgelines president and chief executive officer. "Our focus on growing Bridgeline’s SaaS business helped drive gross margins to 54.2% in fiscal 2016, compared to 42.6% in fiscal 2015 with Q4 gross margins reaching 59.3%."
For the first-quarter, Bridgeline Digital expects revenue to be in the range of $3.80 million to $4 million.
Debt comes down significantly
Bridgeline Digital has recorded a decline in total debt over the last one year. It stood at $2.16 million as on Sep. 30, 2016, down 73.36 percent or $5.95 million from $8.11 million 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
