Quotient Technology Inc. (QUOT) swung to a net profit for the quarter ended Dec. 31, 2016. The company has made a net profit of $3.53 million, or $ 0.04 a share in the quarter, against a net loss of $3.57 million, or $0.04 a share in the last year period.
Revenue during the quarter grew 8.66 percent to $75.42 million from $69.41 million in the previous year period. Gross margin for the quarter contracted 230 basis points over the previous year period to 61.06 percent. Operating margin for the quarter period stood at positive 4.65 percent as compared to a negative 5.32 percent for the previous year period.
Operating income for the quarter was $3.50 million, compared with an operating loss of $3.69 million in the previous year period.
However, the adjusted EBITDA for the quarter stood at $11.34 million compared with $7.51 million in the prior year period. At the same time, adjusted EBITDA margin improved 422 basis points in the quarter to 15.04 percent from 10.82 percent in the last year period.
"2016 was an exciting year," said Steven Boal, chief executive officer at Quotient. "We delivered record revenue, record Adjusted EBITDA, and record transaction volume. Shopper adoption of Retailer iQ programs grew sharply, giving us national coverage and the ability to reach and influence about 30% of U.S. households with offers and media. Our significantly expanded reach gives CPGs and retailers the scale they need to shift more of their programs to digital. As we look to 2017, we will continue to expand our network and bring more value to CPGs, retailers and shoppers through promotions, targeted media and analytics. The shift to digital is accelerating, and we're excited by our momentum and the opportunity ahead."
For the first-quarter 2017, Quotient Technology Inc. projects revenue to be in the range of $70 million to $73 million.
For financial year 2017, Quotient Technology Inc. projects revenue to be in the range of $307 million to $317 million.
Operating cash flow improves significantly
Quotient Technology Inc. has generated cash of $21.82 million from operating activities during the year, up 136.32 percent or $12.58 million, when compared with the last year.
Cash flow from investing activities was almost stable for the quarter at $50.56 million, when compared with the previous year period.
The company has spent $0.03 million cash to carry out financing activities during the year as against cash outgo of $24.58 million in the last year period.
Cash and cash equivalents stood at $106.17 million as on Dec. 31, 2016, down 21.32 percent or $28.77 million from $134.95 million on Dec. 31, 2015.
Working capital increases
Quotient Technology Inc. has recorded an increase in the working capital over the last year. It stood at $207.69 million as at Dec. 31, 2016, up 16.98 percent or $30.15 million from $177.55 million on Dec. 31, 2015. Current ratio was at 5.53 as on Dec. 31, 2016, up from 4.49 on Dec. 31, 2015.
Days sales outstanding went up to 44 days for the quarter compared with 42 days for the same period last year.
At the same time, days payable outstanding went down to 8 days for the quarter from 15 for the same period last year.
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