Noble Romans (NROM) swung to a net loss for the quarter ended Sep. 30, 2016. The company has made a net loss of $0.99 million, or $ 0.05 a share in the quarter, against a net profit of $0.23 million, or $0.01 a share in the last year period.
Revenue during the quarter grew 5.40 percent to $2.02 million from $1.92 million in the previous year period. Total expenses were 57.67 percent of quarterly revenues, down from 61.69 percent for the same period last year. This has led to an improvement of 401 basis points in operating margin to 42.33 percent.
Operating income for the quarter was $0.86 million, compared with $0.74 million in the previous year period.
Working capital drops significantlyNoble Romans has witnessed a decline in the working capital over the last year. It stood at $1.32 million as at Sep. 30, 2016, down 42.02 percent or $0.96 million from $2.27 million on Sep. 30, 2015. Current ratio was at 1.35 as on Sep. 30, 2016, down from 2.17 on Sep. 30, 2015. Days sales outstanding went up to 93 days for the quarter compared with 87 days for the same period last year.
Debt increases substantiallyNoble Romans has witnessed an increase in total debt over the last one year. It stood at $4.27 million as on Sep. 30, 2016, up 51.89 percent or $1.46 million from $2.81 million on Sep. 30, 2015. Total debt was 22.60 percent of total assets as on Sep. 30, 2016, compared with 15.43 percent on Sep. 30, 2015. Debt to equity ratio was at 0.30 as on Sep. 30, 2016, up from 0.19 as on Sep. 30, 2015. Interest coverage ratio deteriorated to 5.56 for the quarter from 14.58 for the same period 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
