Hudson Technologies, Inc. (HDSN) has reported a 342.61 percent jump in profit for the quarter ended Sep. 30, 2016. The company has earned $4.79 million, or $0.14 a share in the quarter, compared with $1.08 million, or $0.03 a share for the same period last year.
Revenue during the quarter surged 61.10 percent to $34.93 million from $21.68 million in the previous year period. Gross margin for the quarter expanded 1425 basis points over the previous year period to 34.47 percent. Total expenses were 77.05 percent of quarterly revenues, down from 91.23 percent for the same period last year. This has led to an improvement of 1418 basis points in operating margin to 22.95 percent.
Operating income for the quarter was $8.02 million, compared with $1.90 million in the previous year period.
Working capital increases sharply
Hudson Technologies, Inc. has recorded an increase in the working capital over the last year. It stood at $56.26 million as at Sep. 30, 2016, up 40.58 percent or $16.24 million from $40.02 million on Sep. 30, 2015. Current ratio was at 3.29 as on Sep. 30, 2016, up from 2.57 on Sep. 30, 2015.
Cash conversion cycle (CCC) has decreased to 121 days for the quarter from 227 days for the last year period. Days sales outstanding went down to 31 days for the quarter compared with 52 days for the same period last year.
Days inventory outstanding has decreased to 134 days for the quarter compared with 250 days for the previous year period. At the same time, days payable outstanding went down to 44 days for the quarter from 75 for the same period last year.
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