Electro-Sensors, Inc. (ELSE) has reported an 88.21 percent plunge in profit for the quarter ended Sep. 30, 2016. The company has earned $0.02 million, or $0.01 a share in the quarter, compared with $0.20 million, or $0.05 a share for the same period last year.
Revenue during the quarter dropped 13.84 percent to $1.84 million from $2.13 million in the previous year period. Gross margin for the quarter contracted 230 basis points over the previous year period to 54.55 percent. Total expenses were 98.42 percent of quarterly revenues, up from 86.21 percent for the same period last year. That has resulted in a contraction of 1221 basis points in operating margin to 1.58 percent.
Operating income for the quarter was $0.03 million, compared with $0.29 million in the previous year period.
Working capital increases marginally
Electro-Sensors, Inc. has recorded an increase in the working capital over the last year. It stood at $10.21 million as at Sep. 30, 2016, up 2.12 percent or $0.21 million from $10 million on Sep. 30, 2015. Current ratio was at 18.95 as on Sep. 30, 2016, up from 9.10 on Sep. 30, 2015.
Days sales outstanding went up to 46 days for the quarter compared with 42 days for the same period last year.
Days inventory outstanding has decreased to 84 days for the quarter compared with 151 days for the previous year period.
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