ENGlobal Corp (ENG) has reported a 52.81 percent jump in profit for the quarter ended Sep. 24, 2016. The company has earned $0.49 million in the quarter, compared with $0.32 million for the same period last year.
Revenue during the quarter dropped 12.31 percent to $15.97 million from $18.21 million in the previous year period. Gross margin for the quarter expanded 359 basis points over the previous year period to 24.30 percent. Total expenses were 97.68 percent of quarterly revenues, up from 97.68 percent for the same period last year. That has resulted in a contraction of 1 basis points in operating margin to 2.32 percent.
Operating income for the quarter was $0.37 million, compared with $0.42 million in the previous year period.
William A. Coskey, P.E., chairman and chief executive officer of ENGlobal added: "The Company continues to be opportunistic in making investments during this time in order to position our business for improving conditions. We continue to add highly experienced personnel in key positions; an effort which is just now producing results based on our significant upturn in both proposal activity and bookings."
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