Student Transportation Inc. (STB) has reported 9.31 percent rise in profit for the quarter ended Dec. 31, 2016. The company has earned $6.05 million, or $0.06 a share in the quarter, compared with $5.53 million, or $0.06 a share for the same period last year.
Revenue during the quarter grew 5.85 percent to $177.18 million from $167.38 million in the previous year period. Total expenses were 92.61 percent of quarterly revenues, down from 92.87 percent for the same period last year. This has led to an improvement of 26 basis points in operating margin to 7.39 percent.
Operating income for the quarter was $13.10 million, compared with $11.94 million in the previous year period.
Operating cash flow remains negative
Student Transportation Inc. has spent $25.85 million cash to meet operating activities during the first half as against cash outgo of $12.89 million in the last year period.
The company has spent $24.64 million cash to meet investing activities during the first six months as against cash outgo of $53.94 million in the last year period. It has incurred net capital expenditure of $24.64 million on net basis during the first six months, down 54.33 percent or $29.30 million from year ago period.
Cash flow from financing activities was $50.44 million for the first six months, down 18.74 percent or $11.63 million, when compared with the last year period.
Cash and cash equivalents stood at $7.75 million as on Dec. 31, 2016, up 1,537.63 percent or $7.27 million from $0.47 million on Dec. 31, 2015.
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