General Communication, Inc. (GCIINC) saw its loss narrow to $3.67 million in the year compared with $26.02 million a year ago.
Revenue during the year dropped 4.57 percent to $933.81 million from $978.53 million in the previous year. Gross margin for the year expanded 54 basis points over the previous year to 67.60 percent. Total expenses were 91.53 percent of annual revenues, up from 89.15 percent for the last year. That has resulted in a contraction of 238 basis points in operating margin to 8.47 percent.
Operating income for the year was $79.10 million, compared with $106.21 million in the previous year.
However, the adjusted EBITDA for the year stood at $288.04 million compared with $330.35 million in the prior year period. At the same time, adjusted EBITDA margin contracted 291 basis points in the year to 30.85 percent from 33.76 percent in the last year.
Debt remains almost stable
Total debt was 67.62 percent of total assets as on Dec. 31, 2016, compared with 70.68 percent on Dec. 31, 2015. Debt to equity ratio was at 26.24 as on Dec. 31, 2016, up from 6.67 as on Dec. 31, 2015. Interest coverage ratio deteriorated to 0.92 for the year from 1.24 for the same period last year.
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