Dover Motorsports, Inc. (DVD) saw its loss widen to $2.17 million, or $0.06 a share for the quarter ended Sep. 30, 2016. In the previous year period, the company reported a loss of $1.40 million, or $0.04 a share. On the other hand, adjusted net loss for the quarter narrowed to $2.15 million, or $0.06 a share from a loss of $2.22 million or $0.06 a share, a year ago. Revenue during the quarter surged 177.44 percent to $0.37 million from $0.13 million in the previous year period.
Operating loss for the quarter was $3.64 million, compared with an operating loss of $2.30 million in the previous year period.
Operating cash flow drops significantly
Dover Motorsports, Inc. has generated cash of $0.30 million from operating activities during the nine month period, down 52.61 percent or $0.33 million, when compared with the last year period. The company has spent $2 million cash to meet investing activities during the nine month period as against cash outgo of $0.16 million in the last year period.
Cash flow from financing activities was $1.92 million for the nine month period as against cash outgo of $0.30 million in the last year period.
Cash and cash equivalents stood at $0.22 million as on Sep. 30, 2016, up 11.40 percent or $0.02 million from $0.19 million on Sep. 30, 2015.
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