Quintiles Transnational Holdings Inc. (Q) has reported a marginal fall of a 0.20 percent in profit for the quarter ended Jun. 30, 2015. The company has earned $84.95 million, or $0.67 a share, compared with $85.12 million or $0.64 a share, a year ago. Revenue during the quarter grew 7.64 percent to $1,443.53 million from $1,341.03 million in the previous year period. Gross margin for the quarter expanded 14 basis points over the previous year period to 27.05 percent. Total expenses were 89.03 percent of quarterly revenues, down from 89.49 percent for the same period last year. This has led to an improvement of 46 basis points in operating margin to 10.97 percent.
Operating income for the quarter was $158.39 million, compared with $141 million in the previous year period.
Operating cash flow turns negative
Quintiles Transnational Holdings Inc. has spent $13.57 million cash to meet operating activities during the first half as against cash inflow of $38.70 million in the last year period. The company has spent $45.47 million cash to meet investing activities during the first six months as against cash outgo of $33.01 million in the last year period.
Cash flow from financing activities was $16.46 million for the first six months as against cash outgo of $154.09 million in the last year period.
Cash and cash equivalents stood at $803.62 million as on Jun. 30, 2015, up 26.26 percent or $167.15 million from $636.47 million on Jun. 30, 2014.
Working capital increases sharply
Quintiles Transnational Holdings Inc. has recorded an increase in the working capital over the last year. It stood at $866.03 million as at Jun. 30, 2015, up 69.26 percent or $354.39 million from $511.65 million on Jun. 30, 2014. Current ratio was at 1.64 as on Jun. 30, 2015, up from 1.38 on Jun. 30, 2014.
Days sales outstanding went down to 36 days for the quarter compared with 66 days for the same period last year.
Debt moves up
Quintiles Transnational Holdings Inc. has witnessed an increase in total debt over the last one year. It stood at $2,489.48 million as on Jun. 30, 2015, up 21.58 percent or $441.86 million from $2,047.62 million on Jun. 30, 2014. Total debt was 74.50 percent of total assets as on Jun. 30, 2015, compared with 68.74 percent on Jun. 30, 2014. Debt to equity ratio was at 3.55 as on Jun. 30, 2015, down from 3.29 as on Jun. 30, 2014. Interest coverage ratio improved to 6.21 for the quarter from 5.69 for the same period last year.
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