Sturm Ruger & Company Inc (RGR) has reported a 4.53 percent fall in profit for the quarter ended Apr. 01, 2017. The company has earned $22.22 million, or $1.21 a share in the quarter, compared with $23.28 million, or $1.21 a share for the same period last year.
Revenue during the quarter dropped 3.32 percent to $167.36 million from $173.11 million in the previous year period. Gross margin for the quarter contracted 83 basis points over the previous year period to 33.31 percent. Total expenses were 79.76 percent of quarterly revenues, up from 79.09 percent for the same period last year. That has resulted in a contraction of 67 basis points in operating margin to 20.24 percent.
Operating income for the quarter was $33.87 million, compared with $36.20 million in the previous year period.
Operating cash flow drops significantly
Sturm Ruger & Company Inc has generated cash of $18.94 million from operating activities during the quarter, down 35.65 percent or $ 10.49 million, when compared with the last year period.
The company has spent $7.23 million cash to meet investing activities during the quarter as against cash outgo of $6.35 million in the last year period.
The company has spent $63.73 million cash to carry out financing activities during the quarter as against cash outgo of $11.84 million in the last year period.
Cash and cash equivalents stood at $35.10 million as on Apr. 01, 2017, down 56.38 percent or $45.36 million from $80.46 million on Apr. 02, 2016.
Working capital drops significantly
Sturm Ruger & Company Inc has witnessed a decline in the working capital over the last year. It stood at $92.48 million as at Apr. 01, 2017, down 25.38 percent or $31.45 million from $123.93 million on Apr. 02, 2016. Current ratio was at 2.18 as on Apr. 01, 2017, down from 2.61 on Apr. 02, 2016.
Days sales outstanding went up to 41 days for the quarter compared with 39 days for the same period last year.
Days inventory outstanding has decreased to 22 days for the quarter compared with 28 days for the previous year period.
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