Live news , top stories, corporate news, company news, sector news, economy news, results analysis news, ceo interviews, fund manager interview, advisor interview, market news, bazaar talk, hot stocks news, ipo news, commodities news, mutual fund news, insurance news, news wire
21 July, 2017 20:43 IST
Edgewater Technology first-quarter loss widens on a YOY basis
Source: IRIS | 08 Jul, 2017, 04.21PM

Powered by IRIS XBRL Data
Comments  |  Post Comment

Edgewater Technology (EDGW) saw its loss widen to $2.69 million, or $0.21 a share for the quarter ended Mar. 31, 2017. In the previous year period, the company reported a loss of $0.76 million, or $0.06 a share.

Revenue during the quarter dropped 8.68 percent to $29.13 million from $31.90 million in the previous year period. Gross margin for the quarter expanded 59 basis points over the previous year period to 34.29 percent. Operating margin for the quarter stood at negative 18.53 percent as compared to a negative 1.97 percent for the previous year period.

Operating loss for the quarter was $5.40 million, compared with an operating loss of $0.63 million in the previous year period.

However, the adjusted EBITDA for the quarter stood at $0.31 million compared with $1.39 million in the prior year period. At the same time, adjusted EBITDA margin contracted 327 basis points in the quarter to 1.07 percent from 4.35 percent in the last year period.

"Over the past several weeks, we have begun the process of analyzing and modeling the intrinsic value of the Company and its operating units," commented Jeffrey Rutherford, Edgewater's chairman, interim president and interim chief executive officer. "We are excited about the value creation potential of each of the Company's three service offerings."

Operating cash flow remains negative

Edgewater Technology has spent $3.74 million cash to meet operating activities during the quarter as against cash outgo of $5.15 million in the last year period.

The company has spent $0.02 million cash to meet investing activities during the quarter as against cash outgo of $0.14 million in the last year period.

Cash flow from financing activities was $1.73 million for the quarter, up 42.27 percent or $0.51 million, when compared with the last year period.

Disclaimer: Please note that this is an auto-generated article. IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website. For queries contact: editor@irisindia.net



Comments Post comment 
 Post Comment
Name Email
Comment
Security Code type    into this box
US Equities
Innodata Isogen swings to first-quarter loss on a YOY basis - 10-Jul-2017 03:29
Echelon Corp first-quarter loss widens on a YOY basis - 09-Jul-2017 20:32
Diversicare Healthcare Services swings to first-quarter profit on a YOY basis - 09-Jul-2017 19:51
Dextera Surgical third-quarter loss widens on a YOY basis - 09-Jul-2017 18:20
Open Text Corp third-quarter earnings plunge by 68.72 percent on a YOY basis - 09-Jul-2017 15:17
NAPCO Security Technologies third-quarter earnings decline by 12.19 percent on a YOY basis - 09-Jul-2017 14:31
Patriot National Bancorp first-quarter profit jumps 165.75 percent on a YOY basis - 09-Jul-2017 13:29
Patriot National Bancorp first-quarter profit jumps 165.75 percent on a YOY basis - 09-Jul-2017 13:29
Alaska Communications Systems Group swings to first-quarter loss on a YOY basis - 09-Jul-2017 12:00
Delcath Systems first-quarter loss widens on a YOY basis - 08-Jul-2017 18:33
Citizens Community Bancorp second-quarter profit jumps 38.37 percent on a YOY basis - 07-Jul-2017 20:08
more...
Home  |   Shares  |   F&O  |   Mutual Funds  |   Loans  |   Insurance  |   News Centre
Wealth Tracker  |   Newsletters  |   Tax Corner  |   NRI Centre  |   Advertise
© All rights reserved. IRIS Business Services Limited
A Disclaimer