ExOne Company (XONE) saw its loss widen to $2.57 million, or $0.16 a share for the quarter ended Dec. 31, 2016. In the previous year period, the company reported a loss of $1.22 million, or $0.08 a share.
Revenue during the quarter dropped 9.67 percent to $14.63 million from $16.20 million in the previous year period. Gross margin for the quarter contracted 179 basis points over the previous year period to 35.68 percent. Operating margin for the quarter stood at negative 16.11 percent as compared to a negative 6.72 percent for the previous year period.
Operating loss for the quarter was $2.36 million, compared with an operating loss of $1.09 million in the previous year period.
However, the adjusted EBITDA for the quarter stood at negative $0.70 million compared with $0.80 million in the prior year period. At the same time, adjusted EBITDA margin stood at negative 4.78 percent for the quarter compared to 4.94 percent in the last year period.
"We are pleased with the progress made in 2016, evidenced by solid growth in machine revenue. While expected recognition of revenue on certain machines slipped from the 2016 fourth quarter into 2017, we are not discouraged by the comparison to a strong 2015 fourth quarter. We have made a considerable effort to understand in what stage of adoption our customers are, with respect to our binder jet printing technology, and believe that 2017 marks an inflection point in our evolution. We have customers who were in the early stages of adoption two years ago and are now reaching more advanced stages, as they discover that our equipment can bring sustainable and differential value to their businesses. This encourages us about our potential for growth," stated Jim McCarley, ExOne's chief executive officer.
Operating cash flow remains negative ExOne Company has spent $2.65 million cash to meet operating activities during the year as against cash outgo of $10.72 million in the last year.
The company has spent $1.27 million cash to meet investing activities during the year as against cash outgo of $4.75 million in the last year. It has incurred net capital expenditure of $1.27 million on net basis during the year, down 73.21 percent or $3.48 million from year ago.
Cash flow from financing activities was $12.82 million for the year as against cash outgo of $0.67 million in the last year period.
Cash and cash equivalents stood at $28.16 million as on Dec. 31, 2016, up 43.12 percent or $8.48 million from $19.67 million on Dec. 31, 2015.
Working capital increases
ExOne Company has recorded an increase in the working capital over the last year. It stood at $36.86 million as at Dec. 31, 2016, up 6.84 percent or $2.36 million from $34.50 million on Dec. 31, 2015. Current ratio was at 3.50 as on Dec. 31, 2016, up from 3.03 on Dec. 31, 2015.
Debt comes down
ExOne Company has recorded a decline in total debt over the last one year. It stood at $1.86 million as on Dec. 31, 2016, down 10.28 percent or $0.21 million from $2.07 million on Dec. 31, 2015. Total debt was 1.78 percent of total assets as on Dec. 31, 2016, compared with 1.92 percent on Dec. 31, 2015. Debt to equity ratio was almost stable at 0.02 as on Dec. 31, 2016, when compared with the 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]
