Opko Health (OPK) saw its loss widen to $31 million, or $0.06 a share for the quarter ended Mar. 31, 2017. In the previous year period, the company reported a loss of $12 million, or $0.02 a share. Revenue during the quarter went up marginally by 1.75 percent to $296.10 million from $291 million in the previous year period. Gross margin for the quarter contracted 159 basis points over the previous year period to 47.72 percent. Operating margin for the quarter stood at negative 14.08 percent as compared to a negative 9.45 percent for the previous year period.
Operating loss for the quarter was $41.70 million, compared with an operating loss of $27.50 million in the previous year period.
Working capital increases marginallyOpko Health has recorded an increase in the working capital over the last year. It stood at $195 million as at Mar. 31, 2017, up 4.67 percent or $8.70 million from $186.30 million on Mar. 31, 2016. Current ratio was at 1.74 as on Mar. 31, 2017, up from 1.70 on Mar. 31, 2016. Days sales outstanding went down to 29 days for the quarter compared with 62 days for the same period last year.
Debt comes down significantly
Opko Health has recorded a decline in total debt over the last one year. It stood at $39.30 million as on Mar. 31, 2017, down 35.64 percent or $21.76 million from $61.06 million on Mar. 31, 2016. Total debt was 1.42 percent of total assets as on Mar. 31, 2017, compared with 2.19 percent on Mar. 31, 2016. Debt to equity ratio was at 0.02 as on Mar. 31, 2017, down from 0.03 as on Mar. 31, 2016. 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
