Juniper Pharmaceuticals, Inc. (JNP) has reported a 32.61 percent plunge in profit for the quarter ended Sep. 30, 2016. The company has earned $0.25 million, or $0.02 a share in the quarter, compared with $0.37 million, or $0.03 a share for the same period last year.
Revenue during the quarter grew 5.12 percent to $11.56 million from $10.99 million in the previous year period. Gross margin for the quarter expanded 1024 basis points over the previous year period to 50.63 percent. Total expenses were 98.47 percent of quarterly revenues, up from 97.42 percent for the same period last year. That has resulted in a contraction of 105 basis points in operating margin to 1.53 percent.
Operating income for the quarter was $0.18 million, compared with $0.28 million in the previous year period.
"Ongoing strong quarterly revenue growth provides continued cash flow which, coupled with the $11 million from Allergan, enables targeted investments in product development while also supporting our solid cash position," said Alicia Secor, Juniper's president and chief executive officer. "We continue to advance our IVR pipeline, targeting unmet and underserved needs in women’s health including overactive bladder, HRT and preterm birth," Ms. Secor continued. "We are selectively evaluating acquisition and in-licensing opportunities with the goal of bringing in one or more women’s health therapeutics to enhance our product portfolio and establish a new trajectory to support our mission of building a leading women’s health company."
Working capital drops significantly
Juniper Pharmaceuticals, Inc. has witnessed a decline in the working capital over the last year. It stood at $11.16 million as at Sep. 30, 2016, down 47.52 percent or $10.10 million from $21.26 million on Sep. 30, 2015. Current ratio was at 1.73 as on Sep. 30, 2016, down from 3.24 on Sep. 30, 2015.
Cash conversion cycle (CCC) has decreased to 23 days for the quarter from 64 days for the last year period. Days sales outstanding went down to 47 days for the quarter compared with 60 days for the same period last year.
Days inventory outstanding has decreased to 39 days for the quarter compared with 48 days for the previous year period. At the same time, days payable outstanding went up to 63 days for the quarter from 45 for the same period last year.
Debt comes down
Juniper Pharmaceuticals, Inc. has recorded a decline in total debt over the last one year. It stood at $2.58 million as on Sep. 30, 2016, down 21 percent or $0.69 million from $3.27 million on Sep. 30, 2015. Total debt was 5.27 percent of total assets as on Sep. 30, 2016, compared with 5.87 percent on Sep. 30, 2015. Debt to equity ratio was almost stable at 0.08 as on Sep. 30, 2016, when compared with the last year.
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