Terra Nitrogen CompanyL P (TNH) has reported 11.94 percent rise in profit for the quarter ended Mar. 31, 2017. The company has earned $42.20 million in the quarter, compared with $37.70 million for the same period last year. Revenue during the quarter grew 10.19 percent to $119 million from $108 million in the previous year period. Gross margin for the quarter contracted 75 basis points over the previous year period to 39.16 percent. Total expenses were 64.54 percent of quarterly revenues, down from 65.09 percent for the same period last year. This has led to an improvement of 55 basis points in operating margin to 35.46 percent.
Operating income for the quarter was $42.20 million, compared with $37.70 million in the previous year period.
Working capital increases sharplyTerra Nitrogen CompanyL P has recorded an increase in the working capital over the last year. It stood at $47.30 million as at Mar. 31, 2017, up 102.14 percent or $23.90 million from $23.40 million on Mar. 31, 2016. Current ratio was at 3.07 as on Mar. 31, 2017, up from 1.43 on Mar. 31, 2016. Days sales outstanding went down to 13 days for the quarter compared with 16 days for the same period last year.
Days inventory outstanding has decreased to 3 days for the quarter compared with 10 days for the previous year period.
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