Digimarc Corporation (DMRC) saw its loss widen to $5.76 million, or $0.57 a share for the quarter ended Dec. 31, 2016. In the previous year period, the company reported a loss of $5.30 million, or $0.62 a share.
Revenue during the quarter grew 3.27 percent to $5.18 million from $5.02 million in the previous year period. Gross margin for the quarter contracted 4 basis points over the previous year period to 60.41 percent.
Operating loss for the quarter was $5.88 million, compared with an operating loss of $5.29 million in the previous year period.
Operating cash flow remains negative
Digimarc Corporation has spent $13.86 million cash to meet operating activities during the year as against cash outgo of $9.74 million in the last year.
The company has spent $15.49 million cash to meet investing activities during the year as against cash outgo of $5.19 million in the last year.
Cash flow from financing activities was $37.83 million for the year, up 216.13 percent or $25.86 million, when compared with the last year.
Working capital increases sharply
Digimarc Corporation has recorded an increase in the working capital over the last year. It stood at $58.46 million as at Dec. 31, 2016, up 55.44 percent or $20.85 million from $37.61 million on Dec. 31, 2015. Current ratio was at 14.15 as on Dec. 31, 2016, up from 9.04 on Dec. 31, 2015.
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