Cerus Corp (CERS) saw its loss narrow to $13.50 million, or $0.13 a share for the quarter ended Dec. 31, 2016. In the previous year period, the company reported a loss of $14.76 million, or $0.15 a share.
Revenue during the quarter grew 23.82 percent to $11.96 million from $9.66 million in the previous year period. Gross margin for the quarter expanded 1694 basis points over the previous year period to 53.12 percent.
Operating loss for the quarter was $15.10 million, compared with an operating loss of $14.99 million in the previous year period.
"We saw significant acceleration in U.S. blood center illuminator installations in late 2016, with fourth quarter installations accounting for roughly half of the total for the year," said William 'Obi' Greenman, Cerus' president and chief executive officer. "We are optimistic for our growth prospects over the next several years based on the U.S. opportunity as well as anticipated progress in major international markets such as France and South Africa."
Working capital drops significantly
Cerus Corp has witnessed a decline in the working capital over the last year. It stood at $67.22 million as at Dec. 31, 2016, down 38.07 percent or $41.33 million from $108.54 million on Dec. 31, 2015. Current ratio was at 3.50 as on Dec. 31, 2016, down from 5.96 on Dec. 31, 2015.
Debt comes down marginally
Cerus Corp has recorded a decline in total debt over the last one year. It stood at $19.38 million as on Dec. 31, 2016, down 2.17 percent or $0.43 million from $19.80 million on Dec. 31, 2015. Total debt was 18.72 percent of total assets as on Dec. 31, 2016, compared with 14.20 percent on Dec. 31, 2015. Debt to equity ratio was at 0.34 as on Dec. 31, 2016, up from 0.21 as on Dec. 31, 2015.
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