Wi-LAN (WILN) has reported 186.90 percent jump in profit for the quarter ended Dec. 31, 2016. The company has earned $8.63 million, or $0.07 a share in the quarter, compared with $3.01 million, or $0.02 a share for the same period last year.
Revenue during the quarter grew 16.02 percent to $30.19 million from $26.02 million in the previous year period. Gross margin for the quarter expanded 1049 basis points over the previous year period to 40.92 percent. Total expenses were 67.65 percent of quarterly revenues, down from 89.31 percent for the same period last year. This has led to an improvement of 2166 basis points in operating margin to 32.35 percent.
Operating income for the quarter was $9.76 million, compared with $2.78 million in the previous year period.
"2016 ended on a positive note with a strong quarter for revenue, EBITDA and cash flow," said Jim Skippen chief executive officer of Wilan. "During the year we added several exciting patent portfolios to our already substantial and valuable holdings, reflecting investment in our future. We also grew our pipeline of license opportunities by launching a number of negotiations and litigations with potential licensees in both our traditional U.S. market as well as in other geographies such as China, Germany and Canada.
Operating cash flow declinesWi-LAN has generated cash of $36.84 million from operating activities during the year, down 15.37 percent or $6.69 million, when compared with the last year. The company has spent $15.26 million cash to meet investing activities during the year as against cash outgo of $56.28 million in the last year.
The company has spent $8.67 million cash to carry out financing activities during the year as against cash outgo of $19.01 million in the last year period.
Cash and cash equivalents stood at $106.55 million as on Dec. 31, 2016, up 14.04 percent or $13.12 million from $93.43 million on Dec. 31, 2015.
Debt comes down
Wi-LAN has recorded a decline in total debt over the last one year. It stood at $23.15 million as on Dec. 31, 2016, down 17.27 percent or $4.83 million from $27.98 million on Dec. 31, 2015.
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