New Concept Energy, Inc (GBR) saw its loss narrow to $0.16 million, or $0.08 a share for the quarter ended Mar. 31, 2017. In the previous year period, the company reported a loss of $0.30 million, or $0.15 a share.
Revenue during the quarter dropped 10.96 percent to $0.20 million from $0.22 million in the previous year period.
Operating loss for the quarter was $0.16 million, compared with an operating loss of $0.34 million in the previous year period.
Working capital turns positive
Working capital of New Concept Energy, Inc has turned positive to $0.05 million on Mar. 31, 2017 from negative $0.74 million on Mar. 31, 2016. Current ratio was at 1.07 as on Mar. 31, 2017, up from 0.48 on Mar. 31, 2016.
Days sales outstanding went up to 61 days for the quarter compared with 49 days for the same period last year.
Debt comes down significantly
New Concept Energy, Inc has recorded a decline in total debt over the last one year. It stood at $0.38 million as on Mar. 31, 2017, down 80.67 percent or $1.59 million from $1.98 million on Mar. 31, 2016. Total debt was 5.24 percent of total assets as on Mar. 31, 2017, compared with 22.66 percent on Mar. 31, 2016. Debt to equity ratio was at 0.11 as on Mar. 31, 2017, down from 0.59 as on Mar. 31, 2016.
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