Workday Inc (WDAY) saw its loss widen to $105.56 million, or $0.52 a share for the quarter ended Jan. 31, 2017. In the previous year period, the company reported a loss of $81.13 million, or $0.42 a share. On an adjusted basis, net profit for the quarter stood at $15.59 million, or $0.07 a share compared with a net loss of $1.97 million, or $0.01 a share in the last year period.
Revenue during the quarter surged 35.01 percent to $436.67 million from $323.43 million in the previous year period. Gross margin for the quarter expanded 194 basis points over the previous year period to 70.19 percent. Operating margin for the quarter stood at negative 24.33 percent as compared to a negative 22.71 percent for the previous year period.
Operating loss for the quarter was $106.24 million, compared with an operating loss of $73.44 million in the previous year period.
However, the adjusted operating profit for the quarter stood at $8.05 million compared to operating loss of $0.79 million in prior year period.
“In Q4, we delivered the best quarter in company history to close out a very successful fiscal 2017,” said Aneel Bhusri, co-founder and chief executive officer, Workday. “Our strong performance was driven by a combination of our industry-leading products and technology, continued high levels of customer satisfaction, and our dedicated Workday team. We believe these are the right areas of focus to achieve another great year for Workday in the year ahead.”
Operating cash flow improves significantly
Workday Inc has generated cash of $348.66 million from operating activities during the year, up 34.80 percent or $90.02 million, when compared with the last year.
The company has spent $168.88 million cash to meet investing activities during the year as against cash outgo of $300.15 million in the last year.
Cash flow from financing activities was $59.68 million for the year, up 35.30 percent or $15.57 million, when compared with the last year.
Cash and cash equivalents stood at $539.92 million as on Jan. 31, 2017, up 79.92 percent or $239.84 million from $300.09 million on Jan. 31, 2016.
Working capital declines
Workday Inc has witnessed a decline in the working capital over the last year. It stood at $1,200.08 million as at Jan. 31, 2017, down 16.64 percent or $239.55 million from $1,439.63 million on Jan. 31, 2016. Current ratio was at 1.93 as on Jan. 31, 2017, down from 2.56 on Jan. 31, 2016.
Debt moves up
Workday Inc has witnessed an increase in total debt over the last one year. It stood at $534.42 million as on Jan. 31, 2017, up 5.31 percent or $26.95 million from $507.48 million on Jan. 31, 2016. Workday has witnessed an increase in long-term debt over the last one year. It stood at $534.42 million as on Jan. 31, 2017, up 5.31 percent or $26.95 million from $507.48 million on Jan. 31, 2016. Total debt was 16.88 percent of total assets as on Jan. 31, 2017, compared with 18.59 percent on Jan. 31, 2016. Debt to equity ratio was at 0.46 as on Jan. 31, 2017, up from 0.45 as on Jan. 31, 2016.
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