PharmAthene, Inc. (PIP) swung to a net profit for the year ended Dec. 31, 2016. The company has made a net profit of $193.85 million, or $ 2.95 a share in the year, against a net loss of $3.44 million, or $0.05 a share in the last year. Revenue during the year plunged 50.85 percent to $5.23 million from $10.64 million in the previous year.
Operating loss for the year was $11.26 million, compared with an operating loss of $3.40 million in the previous year.
Working capital increasesPharmAthene, Inc. has recorded an increase in the working capital over the last year. It stood at $17.43 million as at Dec. 31, 2016, up 15.85 percent or $2.38 million from $15.05 million on Dec. 31, 2015. Current ratio was at 1.09 as on Dec. 31, 2016, down from 7.90 on Dec. 31, 2015. Days sales outstanding went up to 58 days for the year compared with 37 days for the same period last year.
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