UniPixel, Inc. (UNXL) saw its loss widen to $7.32 million, or $0.16 a share for the quarter ended Dec. 31, 2016. In the previous year period, the company reported a loss of $5.57 million, or $0.27 a share.
Revenue during the quarter surged 55.73 percent to $1.39 million from $0.89 million in the previous year period.
Operating loss for the quarter was $8.03 million, compared with an operating loss of $6.22 million in the previous year period.
However, the adjusted EBITDA for the quarter stood at negative $6.58 million compared to negative $4.36 million in the prior year second quarter.
Jeff Hawthorne, president and chief executive officer of UniPixel, said, "UniPixel's first full calendar year as a touchscreen component provider to the leading PC manufacturers, was very rewarding. Based on the leading-edge nature of our technologies we were awarded multiple design wins, which we began delivering on in Q4 2016. We expect deliveries to gradually ramp in the first half of the new year, with shipments accelerating in the second half of the year. We are excited with the opportunities ahead in 2017."
Debt comes down significantly
UniPixel, Inc. has recorded a decline in total debt over the last one year. It stood at $0.81 million as on Dec. 31, 2016, down 70 percent or $1.89 million from $2.70 million on Dec. 31, 2015. Total debt was 7.79 percent of total assets as on Dec. 31, 2016, compared with 10.16 percent on Dec. 31, 2015. Debt to equity ratio was at 0.20 as on Dec. 31, 2016, up from 0.14 as on Dec. 31, 2015.
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