Golar LNG Limited (GLNG) saw its loss narrow to $13.68 million in the quarter ended compared with $67.61 million, a year ago.
Revenue during the quarter went up marginally by 0.30 percent to $23.06 million from $22.99 million in the previous year period. Gross margin for the quarter contracted 465 basis points over the previous year period to 45.22 percent.
Operating loss for the quarter was $32.71 million, compared with an operating loss of $34.68 million in the previous year period.
Operating cash flow remains negative
Golar LNG Limited has spent $39.67 million cash to meet operating activities during the year as against cash outgo of $344.65 million in the last year.
The company has spent $2.22 million cash to meet investing activities during the year as against cash outgo of $255.96 million in the last year.
Cash flow from financing activities was $160.85 million for the year, down 68.73 percent or $353.58 million, when compared with the last year.
Cash and cash equivalents stood at $224.19 million as on Dec. 31, 2016, up 113.04 percent or $118.96 million from $105.24 million on Dec. 31, 2015.
Debt comes down marginally
Golar LNG Limited has recorded a decline in total debt over the last one year. It stood at $1,801.35 million as on Dec. 31, 2016, down 1.88 percent or $34.55 million from $1,835.91 million on Dec. 31, 2015.
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