BroadVision, Inc (BVSN) saw its loss widen to $2.44 million, or $0.50 a share for the quarter ended Sep. 30, 2016. In the previous year period, the company reported a loss of $2.07 million, or $0.42 a share. Revenue during the quarter dropped 6.29 percent to $1.95 million from $2.08 million in the previous year period. Gross margin for the quarter contracted 1219 basis points over the previous year period to 54.28 percent.
Operating loss for the quarter was $2.49 million, compared with an operating loss of $2.46 million in the previous year period.
"The Vmoso Keystone Release in September has reinforced and enhanced Vmoso’s positioning as a platform for enterprise digital transformation. This has provided a major catalyst to our development of key partnerships around the world, and our targeting of new lighthouse accounts," said Dr. Pehong Chen president, and chief executive officer of BroadVision. "In a rapidly developing market, Vmoso alone provides a comprehensive digital workplace that manages and organizes a company’s collective knowledge, clearly differentiating it from communication solutions such as Workplace by Facebook and Slack."
Working capital drops significantly
BroadVision, Inc has witnessed a decline in the working capital over the last year. It stood at $19.53 million as at Sep. 30, 2016, down 33.37 percent or $9.78 million from $29.32 million on Sep. 30, 2015. Current ratio was at 5.42 as on Sep. 30, 2016, down from 6.62 on Sep. 30, 2015. Days sales outstanding went down to 19 days for the quarter compared with 36 days for the same period last year.
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