CafePress Inc. (PRSS) saw its loss widen to $3.41 million, or $0.20 a share for the quarter ended Sep. 30, 2016. In the previous year period, the company reported a loss of $2.06 million, or $0.12 a share.
Revenue during the quarter went down marginally by 1.58 percent to $19.16 million from $19.47 million in the previous year period. Gross margin for the quarter expanded 32 basis points over the previous year period to 41.45 percent. Operating margin for the quarter stood at negative 17.51 percent as compared to a negative 10.74 percent for the previous year period.
Operating loss for the quarter was $3.36 million, compared with an operating loss of $2.09 million in the previous year period.
However, the adjusted EBITDA for the quarter stood at negative $0.86 million compared to negative $0.04 million in the prior year second quarter. At the same time, adjusted EBITDA margin stood at negative 4.47 percent for the quarter compared to negative 0.23 percent in the last year period.
"CafePress' third quarter was highlighted by a 9% year over year increase in total orders, our highest volume for a non-peak quarter since 2014. While we have not turned the corner on revenue growth, we have substantially narrowed the net revenue decline. We believe that these are early proof points that we have positioned the company for a return to growth," commented Fred Durham, chief executive officer.
Operating cash flow remains negative
CafePress Inc. has spent $11.88 million cash to meet operating activities during the nine month period as against cash outgo of $15.85 million in the last year period.
The company has spent $3.28 million cash to meet investing activities during the nine month period as against cash inflow of $14.42 million in the last year period
The company has spent $1.16 million cash to carry out financing activities during the nine month period as against cash outgo of $2.91 million in the last year period.
Cash and cash equivalents stood at $16.36 million as on Sep. 30, 2016, down 37.85 percent or $9.96 million from $26.32 million on Sep. 30, 2015.
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