Rentrak Corporation (RENT) swung to a net profit for the quarter ended Mar. 31, 2015. The company has made a net profit of $1.64 million, or $ 0.10 a share in the quarter, against a net loss of $2.09 million, or $0.17 a share in the last year period. On an adjusted basis, earnings per share were at $0.24 for the quarter compared with $0.03 in the same period last year. Revenue during the quarter surged 32.03 percent to $28.46 million from $21.56 million in the previous year period. Gross margin for the quarter contracted 357 basis points over the previous year period to 62.53 percent. Operating margin for the quarter stood at negative 6.85 percent as compared to a negative 13.22 percent for the previous year period.
Operating loss for the quarter was $1.95 million, compared with an operating loss of $2.85 million in the previous year period.
However, the adjusted EBITDA for the quarter stood at $2.18 million compared with $0.12 million in the prior year period. At the same time, adjusted EBITDA margin improved 707 basis points in the quarter to 7.65 percent from 0.58 percent in the last year period.
"Rentrak’s fourth quarter was characterized by strong revenue growth, substantial bottom-line improvement and many significant operational achievements," said Bill Livek, Rentrak’s vice chairman and chief executive officer. "Profit contribution, on an adjusted basis, in each of our three major product lines grew significantly for fiscal 2015, and we are especially proud of our gains in TV, which improved from a loss of $1.6 million for the full fiscal 2014 year to a profit of $9.0 million for fiscal 2015 as our business model continues to scale."
Operating cash flow improves significantly
Rentrak Corporation has generated cash of $9.81 million from operating activities during the year, up 56.60 percent or $3.55 million, when compared with the last year.
The company has spent $72.90 million cash to meet investing activities during the year as against cash outgo of $8.66 million in the last year.
Cash flow from financing activities was $62.29 million for the year, up 1,694.70 percent or $58.82 million, when compared with the last year. It has raised net of $62.29 million by selling common stocks.
Cash and cash equivalents stood at $3.69 million as on Mar. 31, 2015, down 27.66 percent or $1.41 million from $5.10 million on Mar. 31, 2014.
Working capital increases sharply
Rentrak Corporation has recorded an increase in the working capital over the last year. It stood at $78.10 million as at Mar. 31, 2015, up 238.36 percent or $55.02 million from $23.08 million on Mar. 31, 2014. Current ratio was at 3.92 as on Mar. 31, 2015, up from 2.16 on Mar. 31, 2014.
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