Famous Daves of America, Inc. (DAVE) saw its loss narrow to $0.94 million, or $0.14 a share for the quarter ended Jan. 01, 2017. In the previous year period, the company reported a loss of $5.94 million, or $0.85 a share. On the other hand, adjusted net loss from continuing operations for the quarter widened to $0.68 million, or $0.10 a share from a loss of $0.56 million or $0.08 a share, a year ago.
Revenue during the quarter dropped 10.94 percent to $22.59 million from $25.37 million in the previous year period. Gross margin for the quarter expanded 10 basis points over the previous year period to 75.05 percent. Operating margin for the quarter stood at negative 4.74 percent as compared to a negative 1.76 percent for the previous year period.
Operating loss for the quarter was $1.07 million, compared with an operating loss of $0.45 million in the previous year period.
However, the adjusted operating loss for the quarter stood at $0.84 million compared to operating loss of $1.13 million in prior year period.
Operating cash flow drops significantly
Famous Dave�'s of America, Inc. has generated cash of $0.34 million from operating activities during the year, down 82.66 percent or $1.64 million, when compared with the last year.
Cash flow from investing activities was $1.46 million for the year, down 65.61 percent or $2.78 million, when compared with the last year.
The company has spent $2.65 million cash to carry out financing activities during the year as against cash outgo of $3.06 million in the last year period.
Cash and cash equivalents stood at $4.45 million as on Jan. 01, 2017, down 16.04 percent or $0.85 million from $5.30 million on Jan. 03, 2016.
Debt comes down
Famous Dave�'s of America, Inc. has recorded a decline in total debt over the last one year. It stood at $12.50 million as on Jan. 01, 2017, down 16.87 percent or $2.54 million from $15.04 million on Jan. 03, 2016. Total debt was 24.54 percent of total assets as on Jan. 01, 2017, compared with 26 percent on Jan. 03, 2016. Debt to equity ratio was at 0.63 as on Jan. 01, 2017, down from 0.68 as on Jan. 03, 2016.
Disclaimer: Please note that this is an auto-generated article. IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website. For queries contact: editor@irisindia.net
