Cvr Partners Lp (UAN) swung to a net loss for the quarter ended Dec. 31, 2016. The company has made a net loss of $14.50 million, or $ 0.13 a share in the quarter, against a net profit of $18.70 million, or $0.26 a share in the last year period.
Revenue during the quarter grew 28.64 percent to $84.90 million from $66 million in the previous year period. Total expenses were 98.82 percent of quarterly revenues, up from 69.09 percent for the same period last year. That has resulted in a contraction of 2973 basis points in operating margin to 1.18 percent.
Operating income for the quarter was $1 million, compared with $20.40 million in the previous year period.
However, the adjusted EBITDA for the quarter stood at $18.30 million compared with $28.50 million in the prior year period. At the same time, adjusted EBITDA margin contracted 2163 basis points in the quarter to 21.55 percent from 43.18 percent in the last year period.
"We are pleased with the operating performance of our plants during the 2016 fourth quarter," said Mark Pytosh, chief executive officer. "Both facilities continued to post high on-stream rates, with the East Dubuque ammonia and UAN units operating at nearly 100 percent.
Operating cash flow drops significantlyCvr Partners Lp has generated cash of $45 million from operating activities during the year, down 42.60 percent or $33.40 million, when compared with the last year. The company has spent $87.10 million cash to meet investing activities during the year as against cash outgo of $16.90 million in the last year.
Cash flow from financing activities was $47.70 million for the year as against cash outgo of $91.40 million in the last year period.
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
