Emergent Capital, Inc (EMG) saw its loss widen to $49.69 million, or $1.80 a share for the year ended Dec. 31, 2016. In the previous year period, the company reported a loss of $31.02 million, or $1.25 a share. Revenue during the year plunged 97.62 percent to $1.12 million from $46.89 million in the previous year.
Operating loss for the year was $49.43 million, compared with an operating loss of $39.10 million in the previous year.
Liabilities outpace assets growth
Total assets increased 3.13 percent or $15.96 million to $525.82 million on Dec. 31, 2016. On the other hand, total liabilities were at $352.94 million as on Dec. 31, 2016, up 21.92 percent or $63.44 million from year-ago. Return on assets for the year stood at negative 3.80 percent as compared to a negative 0.61 percent for the previous year. Return on equity for the year stood at negative 28.74 percent as compared to a negative 14.08 percent for the previous year.
Investments move up
Investments stood at $498.40 million as on Dec. 31, 2016, up 7.90 percent or $36.47 million from year-ago. Total debt was at $286.38 million as on Dec. 31, 2016, up 27.40 percent or $61.59 million from year-ago. Shareholders equity stood at $172.87 million as on Dec. 31, 2016, down 21.55 percent or $47.48 million from year-ago. As a result, debt to equity ratio went up 64 basis points to 1.66 percent in the year from 1.02 percent in the last year.
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