Core Laboratories N V (CLB) has reported a marginal increase of 0.27 percent in profit for the quarter ended Dec. 31, 2016. The company has earned $15.46 million, or $0.35 a share, compared with $15.42 million or $0.36 a share, a year ago. Revenue during the quarter dropped 18.16 percent to $149.54 million from $182.72 million in the previous year period. Gross margin for the quarter contracted 710 basis points over the previous year period to 24.65 percent. Total expenses were 85.61 percent of quarterly revenues, down from 87.06 percent for the same period last year. This has led to an improvement of 145 basis points in operating margin to 14.39 percent.
Operating income for the quarter was $21.52 million, compared with $23.64 million in the previous year period.
Operating cash flow drops significantlyCore Laboratories N V has generated cash of $131.89 million from operating activities during the year, down 77.04 percent or $442.52 million, when compared with the last year. The company has spent $14.72 million cash to meet investing activities during the year as against cash outgo of $39.65 million in the last year.
The company has spent $124.90 million cash to carry out financing activities during the year as against cash outgo of $180.30 million in the last year period.
Cash and cash equivalents stood at $14.76 million as on Dec. 31, 2016, down 34.36 percent or $7.73 million from $22.49 million on Dec. 31, 2015.
Working capital drops significantly
Core Laboratories N V has witnessed a decline in the working capital over the last year. It stood at $82.44 million as at Dec. 31, 2016, down 30.01 percent or $35.35 million from $117.79 million on Dec. 31, 2015. Current ratio was at 1.79 as on Dec. 31, 2016, down from 1.98 on Dec. 31, 2015.
Debt comes down significantly
Core Laboratories N V has recorded a decline in total debt over the last one year. It stood at $216.49 million as on Dec. 31, 2016, down 49.77 percent or $214.50 million from $430.99 million on Dec. 31, 2015. Core Laboratories N V has recorded a decline in long-term debt over the last one year. Total debt was 37.78 percent of total assets as on Dec. 31, 2016, compared with 68.93 percent on Dec. 31, 2015. Interest coverage ratio improved to 8.45 for the quarter from 6.97 for the same period last year. 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: [email protected]
