Capstone Turbine Corporation (CPST) saw its loss narrow to $5.86 million, or $0.19 a share for the quarter ended Sep. 30, 2016. In the previous year period, the company reported a loss of $7.88 million, or $0.48 a share. Revenue during the quarter dropped 16.24 percent to $15 million from $17.90 million in the previous year period. Gross margin for the quarter contracted 630 basis points over the previous year period to 4.47 percent. Operating margin for the quarter stood at negative 38.11 percent as compared to a negative 42.72 percent for the previous year period.
Operating loss for the quarter was $5.72 million, compared with an operating loss of $7.65 million in the previous year period.
Darren Jamison, President and Chief Executive Officer of Capstone, said, “Our focus remains fixed on diversifying our customer base and geographic presence while increasing our business in the CHP/energy efficiency markets. To support our sales initiatives, we developed new strategic relationships to provide financing options for our distributors and end use customers.”
Working capital increases sharply
Capstone Turbine Corporation has recorded an increase in the working capital over the last year. It stood at $22.03 million as at Sep. 30, 2016, up 44.44 percent or $6.78 million from $15.26 million on Sep. 30, 2015. Current ratio was at 1.85 as on Sep. 30, 2016, up from 1.32 on Sep. 30, 2015. Days sales outstanding went up to 88 days for the quarter compared with 83 days for the same period last year.
Days inventory outstanding has decreased to 54 days for the quarter compared with 152 days for the previous year period.
Debt comes down significantly
Capstone Turbine Corporation has recorded a decline in total debt over the last one year. It stood at $0.08 million as on Sep. 30, 2016, down 99.46 percent or $15.32 million from $15.41 million on Sep. 30, 2015. Total debt was 0.15 percent of total assets as on Sep. 30, 2016, compared with 21.54 percent 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
