TechTarget, Inc. (TTGT) saw its loss narrow to $0.03 million in the quarter ended compared with $0.05 million, a year ago. On the other hand, adjusted net income for the quarter stood at $0.98 million, or $0.03 a share compared with $1.32 million or $0.04 a share, a year ago.
Revenue during the quarter dropped 5.81 percent to $23.58 million from $25.03 million in the previous year period. Gross margin for the quarter contracted 68 basis points over the previous year period to 70.58 percent. Operating margin for the quarter stood at negative 0.77 percent as compared to a positive 0.95 percent for the previous year period.
Operating loss for the quarter was $0.18 million, compared with an operating income of $0.24 million in the previous year period.
However, the adjusted EBITDA for the quarter stood at $2.54 million compared with $3.11 million in the prior year period. At the same time, adjusted EBITDA margin contracted 164 basis points in the quarter to 10.79 percent from 12.42 percent in the last year period.
For the second-quarter 2017, TechTarget, Inc. forecasts revenue to be in the range of $25.50 million to $27 million. The company projects net income to be in the range of $0.54 million to $1.38 million.
Working capital declines
TechTarget, Inc. has witnessed a decline in the working capital over the last year. It stood at $39.21 million as at Mar. 31, 2017, down 20.05 percent or $9.83 million from $49.05 million on Mar. 31, 2016. Current ratio was at 3.07 as on Mar. 31, 2017, down from 4.36 on Mar. 31, 2016. Days sales outstanding went up to 98 days for the quarter compared with 96 days for the same period last year.
At the same time, days payable outstanding went down to 21 days for the quarter from 24 for the same period last year.
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