Tronc, Inc (TPUB) swung to a net profit for the quarter ended Dec. 25, 2016. The company has made a net profit of $19.42 million, or $ 0.53 a share in the quarter, against a net loss of $0.08 million, in the last year period. On the other hand, adjusted net income for the quarter stood at $24.12 million, or $0.66 a share compared with $35.28 million or $1.34 a share, a year ago. Revenue during the quarter dropped 6.88 percent to $425.42 million from $456.86 million in the previous year period. Total expenses were 90.16 percent of quarterly revenues, down from 97.81 percent for the same period last year. This has led to an improvement of 764 basis points in operating margin to 9.84 percent.
Operating income for the quarter was $41.85 million, compared with $10.02 million in the previous year period.
However, the adjusted EBITDA for the quarter stood at $66.82 million compared with $68.50 million in the prior year period. At the same time, adjusted EBITDA margin improved 71 basis points in the quarter to 15.71 percent from 14.99 percent in the last year period.
“2016 was a transitional year for our company and despite unexpected distractions we delivered strong financial results for the full year of 2016, including total revenues of $1.61 billion, and Adjusted EBITDA of $181 million, which was well ahead of our November guidance and consistent with our January year-end guidance update,' said Chief executive officer Justin Dearborn. 'We continued to make progress in growing our digital audience, with our average monthly unique visitors in the fourth quarter of 2016 up 16% year-over-year and our total paid all access subscribers reaching just under a million at the end of 2016. With a focused strategy and strong balance sheet in place, we believe we are well-positioned to further develop our business transformation in 2017.”
For fiscal year 2017, tronc, Inc expects revenue to be in the range of $1,570 million to $1,600 million
Working capital turns positive
Working capital of tronc, Inc has turned positive to $158.79 million on Dec. 25, 2016 from negative $1.27 million on Dec. 27, 2015. Current ratio was at 1.60 as on Dec. 25, 2016, up from 1 on Dec. 27, 2015. Days sales outstanding went down to 21 days for the quarter compared with 24 days for the same period last year.
Debt comes down marginally t
Tronc, Inc has recorded a decline in total debt over the last one year. It stood at $370.74 million as on Dec. 25, 2016, down 4.86 percent or $18.93 million from $389.67 million on Dec. 27, 2015. Total debt was 41.71 percent of total assets as on Dec. 25, 2016, compared with 46.78 percent on Dec. 27, 2015. 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]
