Vale S.A. (VALE) has reported 40.20 percent jump in profit for the quarter ended Mar. 31, 2017. The company has earned $2.49 million in the quarter, compared with $1.78 million for the same period last year.
Revenue during the quarter surged 59.61 percent to $8.52 million from $5.34 million in the previous year period. Gross margin for the quarter expanded 1730 basis points over the previous year period to 44.40 percent. Total expenses were 54.06 percent of quarterly revenues, down from 78.43 percent for the same period last year. This has led to an improvement of 2437 basis points in operating margin to 45.94 percent.
Operating income for the quarter was $3.91 million, compared with $1.15 million in the previous year period.
Operating cash flow turns positiveVale S.A. has generated cash of $3.04 million from operating activities during the quarter as against cash outgo of $0.51 million in the last year period. The company has spent $0.86 million cash to meet investing activities during the quarter as against cash outgo of $1.39 million in the last year period.
Cash flow from financing activities was $0.25 million for the quarter, down 87.63 percent or $1.77 million, when compared with the last year period.
Cash and cash equivalents stood at stood at $6.72 million as at Mar. 31, 2017.
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