Allot Communications Ltd (ALLT) swung to a net profit for the quarter ended Dec. 31, 2016. The company has made a net profit of $0.94 million, or $ 0.03 a share in the quarter, against a net loss of $10.38 million, or $0.31 a share in the last year period. On the other hand, adjusted net income for the quarter stood at $1.15 million, or $0.03 a share compared with $0.71 million or $0.02 a share, a year ago. Revenue during the quarter dropped 7.47 percent to $23.49 million from $25.38 million in the previous year period. Gross margin for the quarter expanded 2066 basis points over the previous year period to 68.71 percent. Operating margin for the quarter period stood at positive 5.50 percent as compared to a negative 30.06 percent for the previous year period.
Operating income for the quarter was $1.29 million, compared with an operating loss of $7.63 million in the previous year period.
Erez Antebi, president and chief executive officer of Allot Communications, commented, “In my first days with Allot, I am impressed with much of what I see, most notably the quality and professionalism of the people. I believe the combination Allot has of the right products and technology, the right people and the large customer base is a strong foundation on which we can build Allot's growth.”
Allot Communications expects revenue to be in the range of $80 million to $84 million for financial year 2017.
Operating cash flow turns negative
Allot Communications Ltd has spent $3.47 million cash to meet operating activities during the year as against cash inflow of $4.19 million in the last year. Cash flow from investing activities was $15.04 million from investing activities during the year as against cash outgo of $7.86 million in the last year.
The company has spent $3.72 million cash to carry out financing activities during the year as against cash outgo of $0.03 million in the last year period.
Cash and cash equivalents stood at $23.33 million as on Dec. 31, 2016, up 50.78 percent or $7.86 million from $15.47 million on Dec. 31, 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
