BroadVision, Inc. (BVSN) saw its loss widen to $2.60 million, or $0.52 a share for the quarter ended Mar. 31, 2017. In the previous year period, the company reported a loss of $2.05 million, or $0.42 a share.
Revenue during the quarter dropped 10 percent to $1.81 million from $2.01 million in the previous year period. Gross margin for the quarter contracted 664 basis points over the previous year period to 53.04 percent.
Operating loss for the quarter was $2.74 million, compared with an operating loss of $2.68 million in the previous year period.
"It's increasingly clear to us that companies around the world are now recognizing the importance of managing and protecting their corporate knowledge," said Dr. Pehong Chen, president and chief executive officer of BroadVision. "After a long period of growth of BYOD (bring your own device) programs and unmanaged BYOA (bring your own app), many organizations have realized the dangers these bring. Vmoso's combination of knowledge management and collaborative processes make it the ideal digital workplace solution for those companies recognizing the need for a single source of truth for their communication and collaboration."
Working capital drops significantly
BroadVision, Inc. has witnessed a decline in the working capital over the last year. It stood at $15.16 million as at Mar. 31, 2017, down 37.28 percent or $9.02 million from $24.18 million on Mar. 31, 2016. Current ratio was at 3.89 as on Mar. 31, 2017, down from 5.57 on Mar. 31, 2016.
Days sales outstanding went down to 44 days for the quarter compared with 63 days for the same period last year.
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