Safeguard Scientifics, Inc (SFE) saw its loss widen to $21.70 million, or $1.07 a share for the quarter ended Dec. 31, 2016. In the previous year period, the company reported a loss of $14.27 million, or $0.69 a share. The company has not recorded any revenues for the current as well as previous quarter.
Operating loss for the quarter was $3.93 million, compared with an operating loss of $3.96 million in the previous year period.
"Over the course of Safeguard's 64-year history, the Company has always embraced change and fostered innovation," said Stephen T. Zarrilli, Safeguard's President and Chief executive officer. "Our focus on deploying early- and growth-stage capital in select vertical markets within the technology sector has positioned Safeguard for another period of dynamic growth and value realization. We remain committed to progressive capital allocation, appropriate balance sheet leverage and continued transparency."
Working capital drops significantly
Safeguard Scientifics, Inc has witnessed a decline in the working capital over the last year. It stood at $26.69 million as at Dec. 31, 2016, down 57.80 percent or $36.56 million from $63.25 million on Dec. 31, 2015. Current ratio was at 5.55 as on Dec. 31, 2016, down from 10.86 on Dec. 31, 2015.
Debt moves up marginally
Safeguard Scientifics, Inc has witnessed an increase in total debt over the last one year. It stood at $52.56 million as on Dec. 31, 2016, up 3.15 percent or $1.60 million from $50.96 million on Dec. 31, 2015. Safeguard Scientifics has witnessed an increase in long-term debt over the last one year. It stood at $52.56 million as on Dec. 31, 2016, up 3.15 percent or $1.60 million from $50.96 million on Dec. 31, 2015. Total debt was 22.67 percent of total assets as on Dec. 31, 2016, compared with 19.78 percent on Dec. 31, 2015. Debt to equity ratio was at 0.31 as on Dec. 31, 2016, up from 0.26 as on Dec. 31, 2015. 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
