Daseke, Inc (HCACU) saw its loss widen to $7.75 million, or $0.32 a share for the quarter ended Mar. 31, 2017. In the previous year period, the company reported a loss of $1.24 million, or $0.12 a share. Revenue during the quarter went up marginally by 2.26 percent to $160.43 million from $156.88 million in the previous year period. Gross margin for the quarter contracted 273 basis points over the previous year period to 64.59 percent. Operating margin for the quarter stood at negative 0.53 percent as compared to a positive 1.89 percent for the previous year period.
Operating loss for the quarter was $0.85 million, compared with an operating income of $2.97 million in the previous year period.
However, the adjusted EBITDA for the quarter stood at $17.57 million compared with $22.72 million in the prior year period. At the same time, adjusted EBITDA margin contracted 353 basis points in the quarter to 10.95 percent from 14.48 percent in the last year period.
Unity Bancorp“As anticipated, we saw sequential improvement in our first quarter 2017 results versus the fourth quarter of 2016, with improvements in miles, revenue, net loss and Adjusted EBITDA, which we believe presents an accurate snapshot of our performance trend and growth,” said Don Daseke, chairman, president and Chief executive officer. “We believe rates during the 2016 first quarter were exceptionally strong and caution against benchmarking against that period as rates declined steadily throughout the remainder of 2016 and into the first quarter of 2017.
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