Nutraceutical International Corporation (NUTR) has reported a 0.94 percent fall in profit for the quarter ended Dec. 31, 2016. The company has earned $4.20 million, or $0.46 a share in the quarter, compared with $4.24 million, or $0.45 a share for the same period last year.
Revenue during the quarter went up marginally by 1.18 percent to $56.62 million from $55.96 million in the previous year period. Gross margin for the quarter expanded 88 basis points over the previous year period to 51.11 percent. Total expenses were 88.05 percent of quarterly revenues, up from 87.88 percent for the same period last year. That has resulted in a contraction of 17 basis points in operating margin to 11.95 percent.
Operating income for the quarter was $6.77 million, compared with $6.78 million in the previous year period.
However, the adjusted EBITDA for the quarter stood at $10.33 million compared with $10.27 million in the prior year period. At the same time, adjusted EBITDA margin contracted 11 basis points in the quarter to 18.24 percent from 18.35 percent in the last year period.
Bill Gay, chairman and chief executive officer, commented, "Our fiscal 2017 first quarter net sales, gross profit and Adjusted EBITDA all remained strong and reflect the continued success of our overall business strategy, which includes a focus on maintaining and growing our core branded business while continuing to acquire and integrate new brands. Management is hopeful that financial improvements may be realized from capital investments and operational consolidations at certain of its manufacturing facilities by the end of this calendar year. During the remainder of fiscal 2017, a key management focus will be on increasing market share in the health and natural food stores we serve through enhancements to our sales and marketing programs. We appreciate the long-term support of our customers and stockholders as we pursue our business strategy and strive for continued financial success."
Working capital increases marginally
Nutraceutical International Corporation has recorded an increase in the working capital over the last year. It stood at $75.36 million as at Dec. 31, 2016, up 3.29 percent or $2.40 million from $72.96 million on Dec. 31, 2015. Current ratio was at 4.70 as on Dec. 31, 2016, down from 5.13 on Dec. 31, 2015.
Days sales outstanding went down to 14 days for the quarter compared with 29 days for the same period last year.
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