Datawatch Corporation (DWCH) saw its loss narrow to $0.45 million, or $0.04 a share for the quarter ended Mar. 31, 2017. In the previous year period, the company reported a loss of $3.36 million, or $0.29 a share. Revenue during the quarter grew 18 percent to $8.76 million from $7.42 million in the previous year period. Gross margin for the quarter expanded 35 basis points over the previous year period to 85.41 percent. Operating margin for the quarter stood at negative 13.18 percent as compared to a negative 46.83 percent for the previous year period.
Operating loss for the quarter was $1.16 million, compared with an operating loss of $3.48 million in the previous year period.
“The self-service data preparation and analytics market continues to build momentum, and as the diversity of data types and formats rapidly increases, we are finding a more significant opportunity for our Monarch self-service data analytics platform,” said Michael A. Morrison, president and chief executive officer of Datawatch. “Our Monarch solution is being deployed at an increasing number of global organizations that are seeing dramatic improvements in business outcomes and the productivity of their business analysts. Our improved financial results in the first half of fiscal 2017 and our positive outlook on the second half of fiscal 2017 give us confidence that we will achieve our financial and operational targets for the year.”
Working capital declines
Datawatch Corporation has witnessed a decline in the working capital over the last year. It stood at $22.70 million as at Mar. 31, 2017, down 15.65 percent or $4.21 million from $26.92 million on Mar. 31, 2016. Current ratio was at 2.71 as on Mar. 31, 2017, down from 3.20 on Mar. 31, 2016. Days sales outstanding went down to 56 days for the quarter compared with 64 days for the same period last year.
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