Acura Pharmaceuticals (ACUR) saw its loss narrow to $2.25 million, or $0.19 a share for the quarter ended Sep. 30, 2016. In the previous year period, the company reported a loss of $2.65 million, or $0.23 a share.
Revenue during the quarter grew 3.81 percent to $0.22 million from $0.21 million in the previous year period. Gross margin for the quarter expanded 2617 basis points over the previous year period to 50.46 percent.
Operating loss for the quarter was $2.07 million, compared with an operating loss of $2.40 million in the previous year period.
Working capital drops significantlyAcura Pharmaceuticals has witnessed a decline in the working capital over the last year. It stood at $1.08 million as at Sep. 30, 2016, down 91.18 percent or $11.12 million from $12.19 million on Sep. 30, 2015. Current ratio was at 1.26 as on Sep. 30, 2016, down from 4.18 on Sep. 30, 2015. Days sales outstanding went down to 34 days for the quarter compared with 83 days for the same period last year.
Debt comes down significantlyAcura Pharmaceuticals has recorded a decline in total debt over the last one year. It stood at $6.19 million as on Sep. 30, 2016, down 27.21 percent or $2.31 million from $8.51 million on Sep. 30, 2015. Total debt was 80.03 percent of total assets as on Sep. 30, 2016, compared with 44.92 percent on Sep. 30, 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: editor@irisindia.net
