Nimble Storage (NMBL) saw its loss widen to $36.41 million, or $0.41 a share for the quarter ended Jan. 31, 2017. In the previous year period, the company reported a loss of $32.40 million, or $0.40 a share. On the other hand, adjusted net loss for the quarter widened to $10.88 million, or $0.12 a share from a loss of $9.93 million or $0.12 a share, a year ago. Revenue during the quarter grew 29.90 percent to $117.03 million from $90.09 million in the previous year period. Gross margin for the quarter contracted 92 basis points over the previous year period to 63.51 percent. Operating margin for the quarter stood at negative 30.83 percent as compared to a negative 35.37 percent for the previous year period.
Operating loss for the quarter was $36.08 million, compared with an operating loss of $31.87 million in the previous year period.
However, the adjusted operating loss for the quarter stood at $10.55 million compared to operating loss of $9.40 million in prior year period.
Operating cash flow turns negative
Nimble Storage has spent $15.60 million cash to meet operating activities during the year as against cash inflow of $5.76 million in the last year. The company has spent $24.87 million cash to meet investing activities during the year as against cash outgo of $25.51 million in the last year.
Cash flow from financing activities was $14.23 million for the year, down 38.19 percent or $8.79 million, when compared with the last year.
Cash and cash equivalents stood at $184.81 million as on Jan. 31, 2017, down 12.48 percent or $26.35 million from $211.16 million on Jan. 31, 2016.
Working capital declines
Nimble Storage has witnessed a decline in the working capital over the last year. It stood at $134.28 million as at Jan. 31, 2017, down 23.89 percent or $42.15 million from $176.42 million on Jan. 31, 2016. Current ratio was at 1.92 as on Jan. 31, 2017, down from 2.65 on Jan. 31, 2016.
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