Cytori Therapeutics (CYTX) saw its loss widen to $4.92 million, or $0.24 a share for the quarter ended Dec. 31, 2016. In the previous year period, the company reported a loss of $2.76 million, or $0.25 a share. Revenue during the quarter dropped 5.78 percent to $1.47 million from $1.56 million in the previous year period. Gross margin for the quarter contracted 1363 basis points over the previous year period to 35.54 percent.
Operating loss for the quarter was $3.59 million, compared with an operating loss of $2.07 million in the previous year period.
Operating cash flow remains negativeCytori Therapeutics has spent $19.53 million cash to meet operating activities during the year as against cash outgo of $20.47 million in the last year. Cash flow from investing activities was $0.06 million from investing activities during the year as against cash outgo of $0.61 million in the last year.
Cash flow from financing activities was $17.61 million for the year, down 15.33 percent or $3.19 million, when compared with the last year.
Cash and cash equivalents stood at $12.56 million as on Dec. 31, 2016, down 12.40 percent or $1.78 million from $14.34 million on Dec. 31, 2015.
Working capital drops significantly
Cytori Therapeutics has witnessed a decline in the working capital over the last year. It stood at $6.25 million as at Dec. 31, 2016, down 51.23 percent or $6.56 million from $12.81 million on Dec. 31, 2015. Current ratio was at 1.50 as on Dec. 31, 2016, down from 2.52 on Dec. 31, 2015.
Debt moves up
Cytori Therapeutics has witnessed an increase in total debt over the last one year. It stood at $17.64 million as on Dec. 31, 2016, up 5.73 percent or $0.96 million from $16.68 million on Dec. 31, 2015. Short-term debt stood at $6.63 million as on Dec. 31, 2016. Total debt was 50.96 percent of total assets as on Dec. 31, 2016, compared with 44.25 percent on Dec. 31, 2015. Debt to equity ratio was at 1.61 as on Dec. 31, 2016, up from 1.37 as on Dec. 31, 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
