Gamco Investors Et Al (GBL) has reported 106.17 percent jump in profit for the quarter ended Sep. 30, 2016. The company has earned $30.86 million, or $1.03 a share in the quarter, compared with $14.97 million, or $0.59 a share for the same period last year. On an adjusted basis, the company has earned $22.65 million, or $0.76 a share for the quarter.
Revenue during the quarter dropped 4.82 percent to $87.72 million from $92.16 million in the previous year period. Total expenses were 43.87 percent of quarterly revenues, down from 55.15 percent for the same period last year. This has led to an improvement of 1128 basis points in operating margin to 56.13 percent.
Operating income for the quarter was $49.24 million, compared with $41.33 million in the previous year period.
However, the adjusted operating income for the quarter stood at $35.43 million compared to $37.73 million in the prior year period.
Debt increases substantiallyGamco Investors Et Al has witnessed an increase in total debt over the last one year. It stood at $233.94 million as on Sep. 30, 2016, up 120.29 percent or $127.74 million from $106.20 million on Sep. 30, 2015. Total debt was 192.91 percent of total assets as on Sep. 30, 2016, compared with 12.17 percent on Sep. 30, 2015. Interest coverage ratio deteriorated to 15.61 for the quarter from 22.77 for the same period last year. 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
