New Senior Investment Group Inc. (SNR) saw its loss narrow to $2.80 million, or $0.03 a share for the quarter ended Dec. 31, 2016. In the previous year period, the company reported a loss of $22.02 million, or $0.26 a share.
Revenue during the quarter went down marginally by 0.79 percent to $117.50 million from $118.43 million in the previous year period.
Cost of revenue went up marginally by 2.51 percent or $1.63 million during the quarter to $66.39 million. Gross margin for the quarter contracted 182 basis points over the previous year period to 43.50 percent.
Total expenses were $96.52 million for the quarter, down 20.29 percent or $24.57 million from year-ago period. Operating margin for the quarter period stood at positive 17.85 percent as compared to a negative 2.25 percent for the previous year period.
Revenue from real estate activities during the quarter went down marginally by 0.79 percent or $0.94 million to $117.50 million.
Income from operating leases during the quarter went down marginally by 0.88 percent or $0.25 million to $28.24 million.
Income from management fees during the quarter went down marginally by 0.76 percent or $0.69 million to $89.25 million.
Operating cash flow improves significantly
New Senior Investment Group Inc. has generated cash of $99.30 million from operating activities during the year, up 42.87 percent or $29.80 million, when compared with the last year.
The company has spent $0.28 million cash to meet investing activities during the year as against cash outgo of $1,277.28 million in the last year.
The company has spent $157.85 million cash to carry out financing activities during the year as against cash inflow of $1,098.28 million in the last year period.
Cash and cash equivalents stood at $58.05 million as on Dec. 31, 2016, down 50.34 percent or $58.83 million from $116.88 million on Dec. 31, 2015.
Total assets declined 6.49 percent or $195.73 million to $2,821.73 million on Dec. 31, 2016. On the other hand, total liabilities were almost stable over the past one year at $2,242.83 million on Dec. 31, 2016.
Return on assets moved up 70 basis points to 0.72 percent in the quarter. Return on equity for the quarter stood at negative 0.48 percent as compared to a negative 2.87 percent for the previous year period.
Debt remains almost stable
Total debt was at $2,130.39 million as on Dec. 31, 2016, down 0.97 percent or $20.93 million from year-ago. Shareholders equity stood at $578.90 million as on Dec. 31, 2016, down 24.56 percent or $188.43 million from year-ago. As a result, debt to equity ratio went up 88 basis points to 3.68 percent in the quarter.
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