Unilife Corporation (UNIS) saw its loss narrow to $7.72 million, or $0.47 a share for the quarter ended Jun. 30, 2016. In the previous year period, the company reported a loss of $26.10 million, or $2.16 a share. Revenue during the quarter surged 83.35 percent to $6.33 million from $3.45 million in the previous year period.
Operating loss for the quarter was $9.61 million, compared with an operating loss of $24.33 million in the previous year period.
John Ryan, Unilife’s President and Chief Executive Officer, commented, “Our team is focused on customer requirements and program execution, as well as on continuing to innovate our industry-leading wearable injector technology. We are committed to running a more efficient operation and expect a significant decrease in our operating expenses in fiscal 2017.”
Working capital increases sharply
Unilife has recorded an increase in the working capital over the last year. It stood at $4.51 million as at Jun. 30, 2016, up 104.30 percent or $2.30 million from $2.21 million on Jun. 30, 2015. Current ratio was at 1.24 as on Jun. 30, 2016, up from 1.15 on Jun. 30, 2015. Debt increases substantially
Unilife has witnessed an increase in total debt over the last one year. It stood at $105.11 million as on Jun. 30, 2016, up 32.29 percent or $25.66 million from $79.46 million on Jun. 30, 2015. Total debt was 119.91 percent of total assets as on Jun. 30, 2016, compared with 84.41 percent on Jun. 30, 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
