STUDENT TRANSPORTATION (STB) saw its loss widen to $11.72 million, or $0.13 a share for the quarter ended Sep. 30, 2016. In the previous year period, the company reported a loss of $9.54 million, or $0.10 a share.
Revenue during the quarter grew 9.42 percent to $102.18 million from $93.38 million in the previous year period. Operating margin for the quarter stood at negative 12.99 percent as compared to a negative 13.37 percent for the previous year period.
Operating loss for the quarter was $13.28 million, compared with an operating loss of $12.49 million in the previous year period.
Operating cash flow remains negativeSTUDENT TRANSPORTATION has spent $28.73 million cash to meet operating activities during the quarter as against cash outgo of $16.92 million in the last year period. The company has spent $23.04 million cash to meet investing activities during the quarter as against cash outgo of $51.96 million in the last year period. It has incurred net capital expenditure of $23.04 million on net basis during the quarter, down 55.65 percent or $28.92 million from year ago period.
Cash flow from financing activities was $48.44 million for the quarter, down 28.60 percent or $19.41 million, when compared with the last year period.
Cash and cash equivalents stood at stood at $4.44 million as at Sep. 30, 2016.
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