ATRM Holdings, Inc (ATRM) saw its loss widen to $2.49 million, or $1.10 a share for the quarter ended Sep. 30, 2016. In the previous year period, the company reported a loss of $2.40 million, or $1.80 a share. Revenue during the quarter grew 7.73 percent to $6.92 million from $6.43 million in the previous year period. Gross margin for the quarter period stood at positive 8.62 percent as compared to a negative 7.56 percent for the previous year period. Operating margin for the quarter stood at negative 30.62 percent as compared to a negative 31.43 percent for the previous year period.
Operating loss for the quarter was $2.12 million, compared with an operating loss of $2.02 million in the previous year period.
However, the adjusted EBITDA for the quarter stood at negative $0.24 million compared to negative $1.88 million in the prior year second quarter. At the same time, adjusted EBITDA margin stood at negative 3.51 percent for the quarter compared to negative 29.18 percent in the last year period.
"We are pleased with the third quarter results," said Dan Koch, president and chief executive officer. "While we were disappointed that the results were negatively impacted by the nonrecurring non-cash goodwill impairment charge of $1.7 million recorded during the quarter, the ongoing results of operations are indicative of the positive changes and improvements made at KBS. The completion of another two successful, profitable commercial projects and the continued flow of single family residential homes demonstrates that the Company’s strategic plan can be successful."
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