Ultratech, Inc (UTEK) swung to a net profit for the quarter ended Dec. 31, 2016. The company has made a net profit of $4.32 million, or $ 0.16 a share in the quarter, against a net loss of $8.88 million, or $0.33 a share in the last year period. On an adjusted basis, net profit for the quarter stood at $8.43 million, or $0.31 a share compared with a net loss of $3.89 million, or $0.14 a share in the last year period. Revenue during the quarter surged 81.59 percent to $51.31 million from $28.25 million in the previous year period. Gross margin for the quarter expanded 874 basis points over the previous year period to 47.21 percent. Operating margin for the quarter period stood at positive 8.17 percent as compared to a negative 30.90 percent for the previous year period.
Operating income for the quarter was $4.19 million, compared with an operating loss of $8.73 million in the previous year period.
Working capital increases
Ultratech, Inc has recorded an increase in the working capital over the last year. It stood at $342.36 million as at Dec. 31, 2016, up 8.54 percent or $26.93 million from $315.42 million on Dec. 31, 2015. Current ratio was at 10.03 as on Dec. 31, 2016, down from 10.32 on Dec. 31, 2015.
Debt comes down significantly
Ultratech, Inc has recorded a decline in total debt over the last one year. It stood at $1.50 million as on Dec. 31, 2016, down 70.70 percent or $3.62 million from $5.12 million on Dec. 31, 2015. Ultratech has recorded a decline in short-term debt over the last one year. It stood at $1.50 million as on Dec. 31, 2016, down 70.70 percent or $3.62 million from $5.12 million on Dec. 31, 2015. Total debt was 0.36 percent of total assets as on Dec. 31, 2016, compared with 1.32 percent 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
