EchoStar Corporation (SATS) has reported a 23.27 percent fall in profit for the quarter ended Mar. 31, 2017. The company has earned $37.72 million, or $0.41 a share in the quarter, compared with $49.16 million, or $0.54 a share for the same period last year.

Revenue during the quarter went up marginally by 0.27 percent to $433.15 million from $431.97 million in the previous year period. Gross margin for the quarter contracted 152 basis points over the previous year period to 59.43 percent. Total expenses were 88.08 percent of quarterly revenues, up from 84.78 percent for the same period last year. That has resulted in a contraction of 329 basis points in operating margin to 11.92 percent.

Operating income for the quarter was $51.65 million, compared with $65.73 million in the previous year period.

Cash flow from investing activities was $68.46 million for the quarter as against cash outgo of $214.30 million in the last year period.

Cash flow from financing activities was $17.87 million for the quarter as against cash outgo of $4.51 million in the last year period.

Cash and cash equivalents stood at $2,799.54 million as on Mar. 31, 2017, up 211.47 percent or $1,900.73 million from $898.82 million on Mar. 31, 2016.

Working capital turns positive

Working capital of EchoStar Corporation has turned positive to $3,327.67 million on Mar. 31, 2017 from negative $260.11 million on Mar. 31, 2016. Current ratio was at 8.85 as on Mar. 31, 2017, up from 0.89 on Mar. 31, 2016.

Cash conversion cycle (CCC) has decreased to 1 days for the quarter from 18 days for the last year period. Days sales outstanding went down to 70 days for the quarter compared with 101 days for the same period last year.

Days inventory outstanding has decreased to 20 days for the quarter compared with 37 days for the previous year period. At the same time, days payable outstanding went down to 89 days for the quarter from 120 for the same period last year.