Delta Tucker Holdings (DTH) saw its loss narrow to $54.06 million in the year compared with $132.60 million a year ago. Revenue during the year dropped 4.52 percent to $1,836.15 million from $1,923.18 million in the previous year. Gross margin for the year expanded 41 basis points over the previous year to 10.88 percent. Operating margin for the year period stood at positive 1.34 percent as compared to a negative 3.89 percent for the previous year.
Operating income for the year was $24.69 million, compared with an operating loss of $74.72 million in the previous year.
However, the adjusted EBITDA for the year stood at $101.02 million compared with $96.14 million in the prior year period. At the same time, adjusted EBITDA margin improved 50 basis points in the year to 5.50 percent from 5 percent in the last year period.
"Im proud of the work done by the DI team in 2016, and especially pleased with our improvements in business development and operational excellence." said Lou Von Thaer, chief executive officer. “Our backlog reached a three-year high, and we expect to add to it in 2017."
Operating cash flow improves significantlyDelta Tucker Holdings has generated cash of $41.15 million from operating activities during the year, up 110.26 percent or $21.58 million, when compared with the last year. The company has spent $16.94 million cash to meet investing activities during the year as against cash outgo of $2.74 million in the last year.
The company has spent $14.78 million cash to carry out financing activities during the year as against cash outgo of $2.06 million in the last year period.
Cash and cash equivalents stood at $118.22 million as on Dec. 31, 2016, up 8.67 percent or $9.44 million from $108.78 million on Dec. 31, 2015.
Working capital increases sharply
Delta Tucker Holdings has recorded an increase in the working capital over the last year. It stood at $150.29 million as at Dec. 31, 2016, up 368.57 percent or $118.21 million from $32.07 million on Dec. 31, 2015. Current ratio was at 1.44 as on Dec. 31, 2016, up from 1.06 on Dec. 31, 2015.
Days sales outstanding went down to 72 days for the year compared with 77 days for the same period last year.
Debt remains almost stable
Delta Tucker Holdings has recorded a decline in total debt over the last one year. It stood at $632.46 million as on Dec. 31, 2016, down 0.72 percent or $4.57 million from $637.03 million on Dec. 31, 2015. Total debt was 93.48 percent of total assets as on Dec. 31, 2016, compared with 80.64 percent 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
