Nutraceutical International Corporation (NUTR) has reported a 3.38 percent fall in profit for the quarter ended Mar. 31, 2017. The company has earned $4.46 million, or $0.48 a share in the quarter, compared with $4.62 million, or $0.49 a share for the same period last year.
Revenue during the quarter went up marginally by 2.90 percent to $61.22 million from $59.49 million in the previous year period. Gross margin for the quarter contracted 22 basis points over the previous year period to 50.76 percent. Total expenses were 88.31 percent of quarterly revenues, up from 87.31 percent for the same period last year. That has resulted in a contraction of 100 basis points in operating margin to 11.69 percent.
Operating income for the quarter was $7.16 million, compared with $7.55 million in the previous year period.
However, the adjusted EBITDA for the quarter stood at $10.68 million compared with $11.09 million in the prior year period. At the same time, adjusted EBITDA margin contracted 119 basis points in the quarter to 17.45 percent from 18.64 percent in the last year period.
Bill Gay, chairman and chief executive officer, commented, "Our fiscal 2017 second quarter net sales grew at 2.9% over the prior year, which included growth both domestically and internationally. Gross profit, net income and Adjusted EBITDA remained solid. A number of enhanced marketing and sales initiatives were rolled out in the second quarter, which we are hopeful will expand customer sales in several of our business channels throughout 2017 and beyond. Additional initiatives are in development."
Working capital increases
Nutraceutical International Corporation has recorded an increase in the working capital over the last year. It stood at $76.87 million as at Mar. 31, 2017, up 11.24 percent or $7.76 million from $69.10 million on Mar. 31, 2016. Current ratio was at 4.82 as on Mar. 31, 2017, up from 4.34 on Mar. 31, 2016.
Days sales outstanding went down to 14 days for the quarter compared with 29 days 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
