Encision Inc. (ECIA) saw its loss wion, or $0den to $0.24 milli.02 a share for the quarter ended Sep. 30, 2016. In the previous year period, the company reported a loss of $0.18 million, or $0.02 a share.
Revenue during the quarter dropped 6.48 percent to $2.15 million from $2.30 million in the previous year period. Gross margin for the quarter contracted 440 basis points over the previous year period to 46.91 percent. Operating margin for the quarter stood at negative 11.34 percent as compared to a negative 5.30 percent for the previous year period.
Operating loss for the quarter was $0.24 million, compared with an operating loss of $0.12 million in the previous year period.
Working capital drops significantly
Encision Inc. has witnessed a decline in the working capital over the last year. It stood at $1.42 million as at Sep. 30, 2016, down 31.82 percent or $0.66 million from $2.08 million on Sep. 30, 2015. Current ratio was at 2.21 as on Sep. 30, 2016, down from 3.09 on Sep. 30, 2015.
Cash conversion cycle (CCC) has decreased to 67 days for the quarter from 167 days for the last year period. Days sales outstanding went up to 40 days for the quarter compared with 36 days for the same period last year.
Days inventory outstanding has decreased to 59 days for the quarter compared with 171 days for the previous year period. At the same time, days payable outstanding went down to 32 days for the quarter from 39 for the same period last year.
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