VimpelCom Ltd (WLDN) has reported 214.83 percent jump in profit for the quarter ended Sep. 30, 2016. The company has earned $2.46 million, or $0.28 a share in the quarter, compared with $0.78 million, or $0.10 a share for the same period last year. Revenue during the quarter surged 75.05 percent to $58.66 million from $33.51 million in the previous year period. Gross margin for the quarter contracted 1003 basis points over the previous year period to 27.45 percent. Total expenses were 94.80 percent of quarterly revenues, down from 95.10 percent for the same period last year. This has led to an improvement of 31 basis points in operating margin to 5.20 percent.
Operating income for the quarter was $3.05 million, compared with $1.64 million in the previous year period.
Chief Executive Officer Thomas Brisbin and Chief Financial Officer Stacy McLaughlin will host a conference call today, November 3, 2016, at 5:30 p.m. Eastern/2:30 p.m. Pacific to discuss Willdan’s financial results and provide a business update.
Operating cash flow improves significantly
VimpelCom Ltd has generated cash of $16.75 million from operating activities during the nine month period, up 192.66 percent or $11.03 million, when compared with the last year period. The company has spent $10.24 million cash to meet investing activities during the nine month period as against cash outgo of $9.85 million in the last year period.
The company has spent $4.41 million cash to carry out financing activities during the nine month period as against cash inflow of $0.60 million in the last year period.
Cash and cash equivalents stood at $18.59 million as on Sep. 30, 2016, up 26.87 percent or $3.94 million from $14.65 million on Oct. 02, 2015.
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