NxStage Medical, Inc. (NXTM) saw its loss narrow to $0.17 million in the quarter ended compared with $1.69 million, a year ago.
Revenue during the quarter grew 6.28 percent to $91.95 million from $86.52 million in the previous year period. Gross margin for the quarter expanded 248 basis points over the previous year period to 42.61 percent. Operating margin for the quarter period stood at positive 0.03 percent as compared to a negative 1.89 percent for the previous year period.
Operating income for the quarter was $0.02 million, compared with an operating loss of $1.64 million in the previous year period.
"With these solid results and continued positive momentum with our growth drivers, we are raising full-year revenue guidance and cutting our net loss projections in half," stated Jeffrey H. Burbank, founder and chief executive officer of NxStage. "In addition to feeling good about a solid finish to the year, we remain confident in our outlook for 2017 and beyond that includes targets for increasing the Company's revenue growth and profitability. I believe we have a solid foundation, compelling growth drivers and an amazing technology pipeline."
For the fourth-quarter 2016, NxStage Medical, Inc. forecasts revenue to be $92 million. The Company forecasts net income to be in the range of $1 million to $2 million.
For fiscal year 2016, NxStage Medical, Inc. forecasts net income to be in the range of $4 million to $5 million.
Working capital increases
NxStage Medical, Inc. has recorded an increase in the working capital over the last year. It stood at $95.62 million as at Sep. 30, 2016, up 9.72 percent or $8.48 million from $87.15 million on Sep. 30, 2015. Current ratio was at 2.97 as on Sep. 30, 2016, up from 2.96 on Sep. 30, 2015.
Cash conversion cycle (CCC) has decreased to 45 days for the quarter from 84 days for the last year period. Days sales outstanding went down to 29 days for the quarter compared with 30 days for the same period last year.
Days inventory outstanding has decreased to 41 days for the quarter compared with 76 days for the previous year period. At the same time, days payable outstanding went up to 24 days for the quarter from 23 for the same period last year.
Debt comes down
NxStage Medical, Inc. has recorded a decline in total debt over the last one year. It stood at $1.78 million as on Sep. 30, 2016, down 14.83 percent or $0.31 million from $2.08 million on Sep. 30, 2015. Total debt was 0.56 percent of total assets as on Sep. 30, 2016, compared with 0.68 percent on Sep. 30, 2015. Debt to equity ratio was almost stable at 0.01 as on Sep. 30, 2016, when compared with the 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
