806592,SUWN,Sunwin International Neutraceuticals Inc.,NA,Pharmaceutical Preparations,Sunworks swings to annual loss

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03 April, 2025 13:55 IST

Sunworks swings to annual loss
Source: IRIS | 20 Apr, 2017, 12.58AM

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Sunworks, Inc (SUNW) swung to a net loss for the year ended Dec. 31, 2016. The company has made a net loss of $9.38 million, or $ 0.46 a share in the year, against a net profit of $1.06 million, or $0.05 a share in the last year.

Revenue during the year surged 60.89 percent to $86.42 million from $53.71 million in the previous year. Gross margin for the year contracted 616 basis points over the previous year to 25.58 percent. Operating margin for the year stood at negative 9.28 percent as compared to a positive 4.41 percent for the previous year.

Operating loss for the year was $8.02 million, compared with an operating income of $2.37 million in the previous year.

Debt comes down significantly
Sunworks, Inc has recorded a decline in total debt over the last one year. It stood at $2.33 million as on Dec. 31, 2016, down 39.72 percent or $1.53 million from $3.86 million 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

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