Blucora, Inc. (BCOR) saw its loss narrow to $19.26 million, or $0.46 a share for the quarter ended Dec. 31, 2016. In the previous year period, the company reported a loss of $56.81 million, or $1.39 a share. On the other hand, adjusted net loss for the quarter narrowed to $7.47 million, or $0.18 a share from a loss of $11.46 million or $0.28 a share, a year ago. Revenue during the quarter surged 2,929.70 percent to $86.80 million from $2.86 million in the previous year period. Gross margin for the quarter period stood at positive 33.58 percent as compared to a negative 18.57 percent for the previous year period.
Operating loss for the quarter was $14.18 million, compared with an operating loss of $28.68 million in the previous year period.
However, the adjusted EBITDA for the quarter stood at $2.82 million compared to negative $8.79 million in the prior year second quarter.
"Our business results exceeded our expectations in the fourth quarter," said John Clendening, president and chief executive officer of Blucora. "HD Vest was the primary driver, as segment income was up 13 percent versus last year. We are pleased with the focus of our teams and the significant progress we made on our multi-stage business transformation."
For the first-quarter 2017, Blucora, Inc. projects revenue to be in the range of $176.30 million to $181.50 million. The company expects net income to be in the range of $14.50 million to $15.20 million. It forecasts adjusted net income to be in the range of $40.20 million to $43.90 million. The company forecasts diluted earnings per share to be in the range of $0.32 to $0.34. On an adjusted basis, the company forecasts diluted earnings per share to be in the range of $0.90 to $0.98.
Operating cash flow improves significantly
Blucora, Inc. has generated cash of $85.26 million from operating activities during the year, up 180.02 percent or $54.81 million, when compared with the last year. Cash flow from investing activities was $82.05 million from investing activities during the year as against cash outgo of $336.56 million in the last year.
The company has spent $171.04 million cash to carry out financing activities during the year as against cash inflow of $319.64 million in the last year period.
Cash and cash equivalents stood at $51.71 million as on Dec. 31, 2016, down 6.78 percent or $3.76 million from $55.47 million on Dec. 31, 2015.
Working capital drops significantly
Blucora, Inc. has witnessed a decline in the working capital over the last year. It stood at $43.48 million as at Dec. 31, 2016, down 75.09 percent or $131.09 million from $174.57 million on Dec. 31, 2015. Current ratio was at 1.80 as on Dec. 31, 2016, down from 2.05 on Dec. 31, 2015.
Debt comes down significantly
Blucora, Inc. has recorded a decline in total debt over the last one year. It stood at $414.96 million as on Dec. 31, 2016, down 27.38 percent or $156.44 million from $571.40 million on Dec. 31, 2015. Total debt was 40.58 percent of total assets as on Dec. 31, 2016, compared with 43.97 percent on Dec. 31, 2015. Debt to equity ratio was at 1 as on Dec. 31, 2016, down from 1.24 as on Dec. 31, 2015.
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