Spark Networks (LOV) saw its loss narrow to $2.12 million, or $0.07 a share for the quarter ended Mar. 31, 2017. In the previous year period, the company reported a loss of $3.41 million, or $0.13 a share.
Revenue during the quarter dropped 26.32 percent to $7.26 million from $9.86 million in the previous year period. Gross margin for the quarter expanded 3210 basis points over the previous year period to 55.84 percent. Operating margin for the quarter stood at negative 31.79 percent as compared to a negative 35.32 percent for the previous year period.
Operating loss for the quarter was $2.31 million, compared with an operating loss of $3.48 million in the previous year period.
However, the adjusted EBITDA for the quarter stood at $0.13 million compared to negative $2.27 million in the prior year second quarter. At the same time, adjusted EBITDA margin stood at 1.80 percent for the quarter compared to negative 22.99 percent in the last year period.
Working capital turns positiveWorking capital of Spark Networks has turned positive to $5.34 million on Mar. 31, 2017 from negative $5.51 million on Mar. 31, 2016. Current ratio was at 1.72 as on Mar. 31, 2017, up from 0.52 on Mar. 31, 2016. Days sales outstanding went up to 7 days for the quarter compared with 6 days for the same period last year.
At the same time, days payable outstanding went up to 41 days for the quarter from 22 for the same period last year.
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