DuPont Fabros Technology, Inc. (DFT) has reported 23.52 percent rise in profit for the quarter ended Mar. 31, 2017. The company has earned $38.56 million, or $0.45 a share in the quarter, compared with $31.22 million, or $0.36 a share for the same period last year. Revenue during the quarter grew 12.35 percent to $139.48 million from $124.15 million in the previous year period.
Cost of revenue dropped 5.76 percent or $0.31 million during the quarter to $5.01 million. Gross margin for the quarter expanded 69 basis points over the previous year period to 96.41 percent.
Total expenses were $82.93 million for the quarter, up 10.51 percent or $7.89 million from year-ago period. Operating margin for the quarter expanded 99 basis points over the previous year period to 40.55 percent.
Operating income for the quarter was $56.56 million, compared with $49.11 million in the previous year period.
For financial year 2017, the company forecasts diluted earnings per share to be in the range of $1.75 to $1.87.
Revenue from real estate activities during the quarter increased 12.35 percent or $15.34 million to $139.48 million.
Income from operating leases during the quarter rose 10.58 percent or $8.74 million to $91.27 million. Revenue from tenant reimbursements was $45.30 million for the quarter, up 17.06 percent or $6.60 million from year-ago period.
Revenue from other real estate activities during the quarter was almost stable at $2.92 million, when compared with the previous year period.
Chris Eldredge, president and chief executive officer commented, "DFT is extremely honored that our top customers continue to value and expand their relationship with us, evidenced by the record-setting volume of leases signed year to date. Given the level of inventory absorbed by our customers and continued demand for high-quality data center space, we are expanding development offerings in our Ashburn, Virginia and metro Chicago markets."
Operating cash flow improvesDuPont Fabros Technology, Inc. has generated cash of $54.61 million from operating activities during the quarter, up 6.38 percent or $3.27 million, when compared with the last year period. The company has spent $141.53 million cash to meet investing activities during the quarter as against cash outgo of $77.88 million in the last year period.
Cash flow from financing activities was $93.27 million for the quarter, down 60.78 percent or $144.57 million, when compared with the last year period.
Cash and cash equivalents stood at $44.98 million as on Mar. 31, 2017, down 81.45 percent or $197.55 million from $242.53 million on Mar. 31, 2016.
Net receivables were at $9.50 million as on Mar. 31, 2017, down 1.87 percent or $0.18 million from year-ago. Accounts payable surged 257.15 percent or $54.64 million to $75.88 million on Mar. 31, 2017.
Total assets grew 3.14 percent or $96.78 million to $3,178.01 million on Mar. 31, 2017. On the other hand, total liabilities were at $1,625.07 million as on Mar. 31, 2017, up 18.33 percent or $251.70 million from year-ago.
Return on assets moved up 19 basis points to 1.75 percent in the quarter. At the same time, return on equity moved up 141 basis points to 3.62 percent in the quarter.
Debt moves upTotal debt was at $1,394.40 million as on Mar. 31, 2017, up 16.30 percent or $195.42 million from year-ago. Shareholders equity stood at $973.61 million as on Mar. 31, 2017, down 11.87 percent or $131.09 million from year-ago. As a result, debt to equity ratio went up 35 basis points to 1.43 percent in the quarter.
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