Pacira Pharmaceuticals, Inc. (PCRX) saw its loss widen to $3.97 million, or $0.11 a share for the quarter ended Dec. 31, 2016. In the previous year period, the company reported a loss of $2.50 million, or $0.07 a share. On the other hand, adjusted net income for the quarter stood at $3.56 million, or $0.09 a share compared with $8.25 million or $0.20 a share, a year ago.
Revenue during the quarter grew 5.17 percent to $72.90 million from $69.32 million in the previous year period. Operating margin for the quarter stood at negative 3.38 percent as compared to a negative 1.17 percent for the previous year period.
Operating loss for the quarter was $2.46 million, compared with an operating loss of $0.81 million in the previous year period.
"We made important progress in 2016 advancing our three-part EXPAREL growth strategy and setting the stage for continued success," said Dave Stack, chief executive officer and chairman of Pacira. "We have multiple, major milestones on track for 2017, including the positive topline results reported today from our Phase 4 study in TKA. Our collaboration with DePuy Synthes is off to a strong start and will allow us to maximize these important data and broaden the use of EXPAREL as an opioid-sparing solution for prolonged postsurgical pain relief."
Working capital increases sharply
Pacira Pharmaceuticals, Inc. has recorded an increase in the working capital over the last year. It stood at $198.25 million as at Dec. 31, 2016, up 96.47 percent or $97.34 million from $100.91 million on Dec. 31, 2015. Current ratio was at 5.42 as on Dec. 31, 2016, up from 1.67 on Dec. 31, 2015.
Debt moves up marginally
Pacira Pharmaceuticals, Inc. has witnessed an increase in total debt over the last one year. It stood at $108.74 million as on Dec. 31, 2016, up 4.52 percent or $4.70 million from $104.04 million on Dec. 31, 2015. Long-term debt stood at $108.74 million as on Dec. 31, 2016. Total debt was 27.78 percent of total assets as on Dec. 31, 2016, compared with 26.70 percent on Dec. 31, 2015. Debt to equity ratio was at 0.50 as on Dec. 31, 2016, up from 0.48 as on Dec. 31, 2015.
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