Entellus Medical, Inc (ENTL) saw its loss widen to $7.32 million, or $0.39 a share for the quarter ended Dec. 31, 2016. In the previous year period, the company reported a loss of $5.01 million, or $0.27 a share.
Revenue during the quarter grew 19.91 percent to $21.67 million from $18.07 million in the previous year period. Gross margin for the quarter contracted 194 basis points over the previous year period to 74.10 percent. Operating margin for the quarter stood at negative 31.55 percent as compared to a negative 24.87 percent for the previous year period.
Operating loss for the quarter was $6.84 million, compared with an operating loss of $4.50 million in the previous year period.
"We are pleased to report solid fourth quarter results. Entellus Medical had a very successful 2016 with many accomplishments as we further extended our leadership position in the office setting," said Robert White, president and chief executive officer of Entellus Medical. "I am confident that we are well positioned to maintain our positive momentum into 2017, and we look forward to continuing the trend toward in-office procedures driven by our clinical, economic and strategic value within the ear, nose, and throat space."
For fiscal year 2017, Entellus Medical, Inc forecasts revenue to be in the range of $86 million to $90 million. The company projects net loss to be in the range of $24 million to $32 million.
For the first-quarter 2017, Entellus Medical, Inc forecasts revenue to be in the range of $19 million to $20 million. The company projects net loss to be in the range of $9 million to $11 million.
Working capital drops significantly
Entellus Medical, Inc has witnessed a decline in the working capital over the last year. It stood at $29.99 million as at Dec. 31, 2016, down 59.38 percent or $43.84 million from $73.82 million on Dec. 31, 2015. Current ratio was at 2.20 as on Dec. 31, 2016, down from 9.02 on Dec. 31, 2015. Cash conversion cycle (CCC) has increased to 65 days for the quarter from 45 days for the last year period. Days sales outstanding went up to 29 days for the quarter compared with 27 days for the same period last year.
Days inventory outstanding has increased to 59 days for the quarter compared with 41 days for the previous year period. At the same time, days payable outstanding was almost stable at 23 days for the quarter, when compared with the previous year period.
Debt remains almost stable
Total debt of Entellus Medical, Inc remained almost stable for the quarter at $19.88 million, when compared with the last year period. Short-term debt stood at $9.12 million as on Dec. 31, 2016. Total debt was 27.58 percent of total assets as on Dec. 31, 2016, compared with 22.69 percent on Dec. 31, 2015. Debt to equity ratio was at 0.56 as on Dec. 31, 2016, up from 0.34 as on Dec. 31, 2015. 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]
