VIVUS, Inc. (VVUS) swung to a net profit for the quarter ended Dec. 31, 2016. The company has made a net profit of $56.56 million, or $ 0.54 a share in the quarter, against a net loss of $12.18 million, or $0.12 a share in the last year period.
Revenue during the quarter surged 433.17 percent to $81.80 million from $15.34 million in the previous year period. Operating margin for the quarter period stood at positive 79.12 percent as compared to a negative 27.48 percent for the previous year period.
Operating income for the quarter was $64.72 million, compared with an operating loss of $4.22 million in the previous year period.
"Over the last six months, we have made significant strides to reshape VIVUS' business model," said Seth H. Z. Fischer, VIVUS chief executive officer. "We have strengthened our balance sheet, with the $70 million received from the license of U.S, Canada, South America and India STENDRA commercial rights to Metuchen; secured our STENDRA U.S. intellectual property rights with a settlement with Hetero; and began the process of building our product candidate pipeline with the addition of tacrolimus for the treatment of Pulmonary Arterial Hypertension."
Working capital increases
VIVUS, Inc. has recorded an increase in the working capital over the last year. It stood at $255.16 million as at Dec. 31, 2016, up 19.15 percent or $41.02 million from $214.14 million on Dec. 31, 2015. Current ratio was at 6.29 as on Dec. 31, 2016, up from 4.53 on Dec. 31, 2015.
Debt moves up marginally
VIVUS, Inc. has witnessed an increase in total debt over the last one year. It stood at $241.32 million as on Dec. 31, 2016, up 4.29 percent or $9.93 million from $231.39 million on Dec. 31, 2015. Total debt was 78.92 percent of total assets as on Dec. 31, 2016, compared with 82.47 percent on Dec. 31, 2015.
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