AMAG Pharmaceuticals, Inc. (AMAG) swung to a net loss for the quarter ended Dec. 31, 2016. The company has made a net loss of $10.56 million, or $ 0.31 a share in the quarter, against a net profit of $7.20 million, or $0.20 a share in the last year period. Revenue during the quarter surged 39.41 percent to $151.59 million from $108.74 million in the previous year period. Gross margin for the quarter expanded 15 basis points over the previous year period to 76.75 percent. Total expenses were 90.38 percent of quarterly revenues, up from 79.15 percent for the same period last year. That has resulted in a contraction of 1123 basis points in operating margin to 9.62 percent.
Operating income for the quarter was $14.58 million, compared with $22.67 million in the previous year period.
However, the adjusted operating income for the quarter stood at $77.36 million compared to $61.33 million in the prior year period. At the same time, adjusted operating margin contracted 537 basis points in the quarter to 51.03 percent from 56.41 percent in the last year period.
"We drove significant top- and bottom-line growth in 2016, building an even stronger base to grow and expand upon in 2017," said William Heiden, AMAGs chief executive officer. "We achieved our 2016 financial goals with strong performance across each of our products, generated significant cash flows, and advanced our next-generation development programs. In addition to the revenue growth announced today from our current marketed product portfolio, we recently expanded our women's health portfolio, acquiring rights to RekyndaTM and IntrarosaTM, two important products with long-term growth potential. In 2017, we expect to continue to drive growth across our portfolio, execute well on upcoming new product launches, and continue to expand our product portfolio through additional business development transactions."
Working capital increasesAMAG Pharmaceuticals, Inc. has recorded an increase in the working capital over the last year. It stood at $405.68 million as at Dec. 31, 2016, up 12.45 percent or $44.93 million from $360.75 million on Dec. 31, 2015. Current ratio was at 2.30 as on Dec. 31, 2016, down from 2.47 on Dec. 31, 2015. Debt remains almost stable
AMAG Pharmaceuticals, Inc. has recorded a decline in total debt over the last one year. It stood at $986.52 million as on Dec. 31, 2016, down 0.54 percent or $5.40 million from $991.92 million on Dec. 31, 2015. Total debt was 39.80 percent of total assets as on Dec. 31, 2016, compared with 39.88 percent on Dec. 31, 2015. Debt to equity ratio was almost stable at 1.06 as on Dec. 31, 2016, when compared with the last year. Interest coverage ratio deteriorated to 0.80 for the quarter from 1.23 for the same period last year. 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
