ZELTIQ Aesthetics, Inc. (ZLTQ) has reported an 141.69 percent jump in profit for the quarter ended Sep. 30, 2016. The company has earned $5.19 million, or $0.12 a share in the quarter, compared with $2.15 million, or $0.05 a share for the same period last year.

Revenue during the quarter surged 55.48 percent to $95.16 million from $61.20 million in the previous year period. Gross margin for the quarter contracted 364 basis points over the previous year period to 70.15 percent. Total expenses were 87.75 percent of quarterly revenues, down from 96.84 percent for the same period last year. This has led to an improvement of 909 basis points in operating margin to 12.25 percent.

Operating income for the quarter was $11.66 million, compared with $1.94 million in the previous year period.

However, the adjusted EBITDA for the quarter stood at $16.58 million compared with $5.61 million in the prior year period. At the same time, adjusted EBITDA margin improved 826 basis points in the quarter to 17.43 percent from 9.17 percent in the last year period.

Mark Foley, president and chief executive officer, said, "I am extremely pleased with our third quarter performance as we delivered the largest revenue quarter in the Company's history during what is typically a seasonally slower time of year in the aesthetics industry. We experienced strong growth in both systems and consumables as the durable benefit of our direct-to-consumer or DTC campaign continued to create momentum and further solidify CoolSculpting as the leading non-invasive, fat-reduction brand. With North America account utilization up 25% year-over-year, and over six million unique visitors to our website during the first nine months of the year, we continue to have conviction in our DTC investments and believe that we are not only generating awareness but are also beginning to condition a broader consumer base for treatment. Importantly, the third quarter also demonstrated our ability to deliver significant profitability, as evidenced by our record Adjusted EBITDA margin, as we realized the benefit of our strategic investments."

For fiscal year 2016, ZELTIQ Aesthetics, Inc. expects revenue to be in the range of $350 million to $352 million. The company projects net income to decline by 1 percent.

Cash flow from investing activities was $6.28 million for the nine month period, up 59.24 percent or $2.34 million, when compared with the last year period.

The company has spent $2.46 million cash to carry out financing activities during the nine month period as against cash outgo of $2.50 million in the last year period.

Cash and cash equivalents stood at $60.37 million as on Sep. 30, 2016, up 69.49 percent or $24.75 million from $35.62 million on Sep. 30, 2015.

Working capital increases

ZELTIQ Aesthetics, Inc. has recorded an increase in the working capital over the last year. It stood at $73.28 million as at Sep. 30, 2016, up 11.44 percent or $7.52 million from $65.76 million on Sep. 30, 2015. Current ratio was at 2.01 as on Sep. 30, 2016, down from 2.28 on Sep. 30, 2015.

Cash conversion cycle (CCC) has decreased to 46 days for the quarter from 124 days for the last year period. Days sales outstanding went down to 34 days for the quarter compared with 48 days for the same period last year.

Days inventory outstanding has decreased to 52 days for the quarter compared with 135 days for the previous year period. At the same time, days payable outstanding went down to 41 days for the quarter from 59 for the same period last year.