Digimarc Corporation (DMRC) saw its loss widen to $6.22 million, or $0.61 a share for the quarter ended Mar. 31, 2017. In the previous year period, the company reported a loss of $5.44 million, or $0.64 a share.
Revenue during the quarter grew 9.16 percent to $6.09 million from $5.58 million in the previous year period. Gross margin for the quarter expanded 134 basis points over the previous year period to 62.09 percent.
Operating loss for the quarter was $6.45 million, compared with an operating loss of $5.47 million in the previous year period.
Operating cash flow remains negative
Digimarc Corporation has spent $3.13 million cash to meet operating activities during the quarter as against cash outgo of $2.21 million in the last year period.
Cash flow from investing activities was $5.03 million for the quarter, down 32.79 percent or $2.46 million, when compared with the last year period.
The company has spent $0.41 million cash to carry out financing activities during the quarter as against cash outgo of $0.38 million in the last year period.
Working capital increases sharply
Digimarc Corporation has recorded an increase in the working capital over the last year. It stood at $57.77 million as at Mar. 31, 2017, up 69.12 percent or $23.61 million from $34.16 million on Mar. 31, 2016. Current ratio was at 16.02 as on Mar. 31, 2017, up from 11.09 on Mar. 31, 2016.
Days sales outstanding went up to 62 days for the quarter compared with 56 days for the same period last year.
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