Iacteractivecorp (IACI) swung to a net profit for the quarter ended Dec. 31, 2016. The company has made a net profit of $102.05 million, or $ 1.18 a share in the quarter, against a net loss of $31.85 million, or $0.38 a share in the last year period. On the other hand, adjusted net income for the quarter stood at $114.20 million, or $1.38 a share compared with $64.70 million or $0.75 a share, a year ago.
Revenue during the quarter dropped 4.43 percent to $811.16 million from $848.73 million in the previous year period. Gross margin for the quarter contracted 97 basis points over the previous year period to 73.81 percent. Operating margin for the quarter period stood at positive 13.91 percent as compared to a negative 0.64 percent for the previous year period.
Operating income for the quarter was $112.82 million, compared with an operating loss of $5.43 million in the previous year period.
However, the adjusted EBITDA for the quarter stood at $164.30 million compared with $160.80 million in the prior year period. At the same time, adjusted EBITDA margin improved 131 basis points in the quarter to 20.25 percent from 18.95 percent in the last year period.
Operating cash flow declinesIacteractivecorp has generated cash of $292.38 million from operating activities during the year, down 16.32 percent or $57.03 million, when compared with the last year. Cash flow from investing activities was $12.86 million from investing activities during the year as against cash outgo of $582.72 million in the last year.
The company has spent $451.06 million cash to carry out financing activities during the year as against cash inflow of $734.81 million in the last year period.
Cash and cash equivalents stood at $1,329.19 million as on Dec. 31, 2016, down 10.28 percent or $152.26 million from $1,481.45 million on Dec. 31, 2015.
Working capital decreases marginally
Iacteractivecorp has witnessed a decline in the working capital over the last year. It stood at $1,129.35 million as at Dec. 31, 2016, down 4 percent or $47.12 million from $1,176.46 million on Dec. 31, 2015. Current ratio was at 2.58 as on Dec. 31, 2016, up from 2.53 on Dec. 31, 2015.
Debt comes downIacteractivecorp has recorded a decline in total debt over the last one year. It stood at $1,602.48 million as on Dec. 31, 2016, down 9.31 percent or $164.47 million from $1,766.95 million on Dec. 31, 2015. Total debt was 34.49 percent of total assets as on Dec. 31, 2016, compared with 33.91 percent on Dec. 31, 2015. Debt to equity ratio was almost stable at 0.80 as on Dec. 31, 2016, when compared with the 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
