HESKA CORP (HSKA) has reported 136.54 percent jump in profit for the quarter ended Sep. 30, 2016. The company has earned $3.35 million, or $0.45 a share in the quarter, compared with $1.42 million, or $0.20 a share for the same period last year.
Revenue during the quarter grew 19.25 percent to $33.43 million from $28.03 million in the previous year period. Gross margin for the quarter contracted 33 basis points over the previous year period to 41.03 percent. Total expenses were 86.56 percent of quarterly revenues, down from 92.36 percent for the same period last year. This has led to an improvement of 580 basis points in operating margin to 13.44 percent.
Operating income for the quarter was $4.49 million, compared with $2.14 million in the previous year period.
Kevin Wilson, Heska's chief executive officer and President, commented, "In the third quarter of last year, I was pleased to report to shareholders that Heska had more than doubled earnings per share. Today, I have the pleasure to again confirm Heska's momentum by reporting another record quarterly performance in which income once more doubled over a strong prior year performance. I'd like to thank the Heska teams for this fantastic and consistent performance. All major revenue streams are performing well, operational discipline is strong, our positive winning culture is deepening, and by nearly any measure, Heska is growing stronger. We continue to gain market share and net subscriber growth with our Heska Reset blood diagnostics subscriptions and our pipeline in key areas is at record levels. I anticipate we will solidly beat our previous full-year expectations for 2016."
Debt moves upHESKA has witnessed an increase in total debt over the last one year. It stood at $2.10 million as on Sep. 30, 2016, up 8.36 percent or $0.16 million from $1.94 million on Sep. 30, 2015. Total debt was 1.69 percent of total assets as on Sep. 30, 2016, compared with 1.83 percent on Sep. 30, 2015. Debt to equity ratio was almost stable at 0.02 as on Sep. 30, 2016, when compared with the last year. Interest coverage ratio improved to 320.86 for the quarter from 31.04 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
