ULURU Inc (ULUR) saw its loss narrow to $685.98 million, or $0.01 a share for the quarter ended Sep. 30, 2016. In the previous year period, the company reported a loss of $866.09 million, or $0.03 a share.
Revenue during the quarter plunged 77.22 percent to $5.65 million from $24.80 million in the previous year period. Gross margin for the quarter expanded 838 basis points over the previous year period to 91.26 percent.
Operating loss for the quarter was $653.42 million, compared with an operating loss of $815.52 million in the previous year period.
Commenting on ULURU Inc. (the “Company”) activities, Helmut Kerschbaumer, Interim president and chief executive officer, stated, “Building on the licensing agreements we announced last quarter; namely Saraya Ltd in Japan and Juthis Corporation in South Korea, the development and expansion of our international distribution network continues to be a primary focus of the Company.”
Working capital remains negative
Working capital of ULURU Inc was negative $1,250.03 million on Sep. 30, 2016 compared with negative $1.50 million on Sep. 30, 2015. Current ratio was at 0.42 as on Sep. 30, 2016, down from 0.57 on Sep. 30, 2015.
Days sales outstanding went up to 10 days for the quarter compared with 5 days for the same period last year.
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
