Datawatch Corporation (DWCH) saw its loss narrow to $2.23 million, or $0.19 a share for the quarter ended Dec. 31, 2016. In the previous year period, the company reported a loss of $3.96 million, or $0.34 a share. On the other hand, adjusted net loss for the quarter narrowed to $1.28 million, or $0.11 a share from a loss of $2.37 million or $0.20 a share, a year ago. Revenue during the quarter grew 16.70 percent to $8.23 million from $7.06 million in the previous year period. Gross margin for the quarter expanded 324 basis points over the previous year period to 85 percent. Operating margin for the quarter stood at negative 26.32 percent as compared to a negative 57.28 percent for the previous year period.
Operating loss for the quarter was $2.17 million, compared with an operating loss of $4.04 million in the previous year period.
“Our updated strategy to focus our efforts on the data preparation needs and requirements of our extensive customer base, while continuing the controlled transition to a subscription pricing model, is gaining steam and providing us with greater confidence that we can achieve our financial and business goals in fiscal 2017,” said Michael A. Morrison, president and chief executive officer of Datawatch. “Our total bookings, the improvement in our bottom line results, important new customer wins and accelerating successes in our existing Monarch customer base, all serve to validate our business model and go-to-market approach.”
Working capital declines
Datawatch Corporation has witnessed a decline in the working capital over the last year. It stood at $22.18 million as at Dec. 31, 2016, down 22.95 percent or $6.61 million from $28.78 million on Dec. 31, 2015. Current ratio was at 2.64 as on Dec. 31, 2016, down from 3.48 on Dec. 31, 2015. Days sales outstanding were almost stable at 79 days for the quarter, when compared with the last year period.
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