Evine Live Inc. saw its loss narrow to $3.20 million, or $0.05 a share for the quarter ended Apr. 29, 2017. In the previous year period, the company reported a loss of $4.94 million, or $0.09 a share. Revenue during the quarter dropped 6.34 percent to $156.34 million from $166.92 million in the previous year period. Gross margin for the quarter contracted 81 basis points over the previous year period to 36 percent. Operating margin for the quarter stood at negative 0.37 percent as compared to a negative 2.12 percent for the previous year period.
Operating loss for the quarter was $0.58 million, compared with an operating loss of $3.53 million in the previous year period.
However, the adjusted EBITDA for the quarter stood at $3.05 million compared with $3.42 million in the prior year period. At the same time, adjusted EBITDA margin contracted 10 basis points in the quarter to 1.95 percent from 2.05 percent in the last year period.
"As expected, it was a tough retail environment so I’m pleased that our teams were able to deliver on our revenue and EPS guidance to our stakeholders,” said chief executive officer Bob Rosenblatt. "This is the fourth quarter in a row we have improved our bottom line profitability. We are more passionate than ever that our discipline around the interactive video commerce fundamentals is positioning our company well for continued improvement in profitability throughout the year."
For the second-quarter 2017, Evine Live Inc. projects revenue to grow in the range of 3 percent to 5 percent.
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