Wi-LAN Inc (WILN) swung to a net loss for the quarter ended Mar. 31, 2017. The company has made a net loss of $7.23 million, or $ 0.06 a share in the quarter, against a net profit of $4.92 million, or $0.04 a share in the last year period. Revenue during the quarter plunged 74.87 percent to $7.58 million from $30.16 million in the previous year period. Gross margin for the quarter stood at negative 67.55 percent as compared to a positive 40.34 percent for the previous year period. Operating margin for the quarter stood at negative 96.69 percent as compared to a positive 32.11 percent for the previous year period.
Operating loss for the quarter was $7.33 million, compared with an operating income of $9.68 million in the previous year period.
Operating cash flow drops significantly
Wi-LAN Inc has generated cash of $8.41 million from operating activities during the quarter, down 43.20 percent or $ 6.40 million, when compared with the last year period. The company has spent $4.93 million cash to meet investing activities during the quarter as against cash outgo of $4.40 million in the last year period.
The company has spent $1.13 million cash to carry out financing activities during the quarter as against cash outgo of $3.36 million in the last year period.
Cash and cash equivalents stood at $108.94 million as on Mar. 31, 2017, up 8.20 percent or $8.26 million from $100.68 million on Mar. 31, 2016.
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