Healthcare Services Group (HCSG) has reported 122.24 percent jump in profit for the quarter ended Dec. 31, 2016. The company has earned $20.30 million, or $0.28 a share in the quarter, compared with $9.13 million, or $0.13 a share for the same period last year.
Revenue during the quarter grew 8.87 percent to $398.56 million from $366.08 million in the previous year period. Gross margin for the quarter expanded 169 basis points over the previous year period to 14.47 percent. Total expenses were 92.36 percent of quarterly revenues, down from 97.16 percent for the same period last year. This has led to an improvement of 479 basis points in operating margin to 7.64 percent.
Operating income for the quarter was $30.44 million, compared with $10.42 million in the previous year period.
Working capital increasesHealthcare Services Group has recorded an increase in the working capital over the last year. It stood at $313.75 million as at Dec. 31, 2016, up 16.26 percent or $43.87 million from $269.88 million on Dec. 31, 2015. Current ratio was at 4.11 as on Dec. 31, 2016, up from 3.81 on Dec. 31, 2015.
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