Catasys (CATS) saw its loss widen to $21.77 million, or $2.35 a share for the quarter ended Mar. 31, 2017. In the previous year period, the company reported a loss of $4.29 million, or $0.47 a share.
Revenue during the quarter surged 150.27 percent to $1.82 million from $0.73 million in the previous year period. Gross margin for the quarter period stood at positive 25.08 percent as compared to a negative 32.69 percent for the previous year period.
Operating loss for the quarter was $2.21 million, compared with an operating loss of $2.46 million in the previous year period.
Operating cash flow remains negativeCatasys has spent $1.62 million cash to meet operating activities during the quarter as against cash outgo of $1.52 million in the last year period. The company has spent $0.05 million cash to meet investing activities during the quarter as against cash inflow of $0.01 million in the last year period.
Cash flow from financing activities was $1.10 million for the quarter, up 28.67 percent or $0.25 million, when compared with the last year period.
Cash and cash equivalents stood at $0.29 million as on Mar. 31, 2017, up 11.07 percent or $0.03 million from $0.26 million on Mar. 31, 2016.
Working capital remains negative
Working capital of Catasys was negative $32.38 million on Mar. 31, 2017 compared with negative $12.43 million on Mar. 31, 2016. Current ratio was at 0.06 as on Mar. 31, 2017, down from 0.10 on Mar. 31, 2016.
Days sales outstanding went down to 46 days for the quarter compared with 75 days for the same period last year.
At the same time, days payable outstanding went down to 65 days for the quarter from 72 for the same period last year.
Debt comes down significantlyCatasys has recorded a decline in total debt over the last one year. It stood at $0.02 million as on Mar. 31, 2017, down 42.11 percent or $0.02 million from $0.04 million on Mar. 31, 2016.Total debt was 0.75 percent of total assets as on Mar. 31, 2017, compared with 1.84 percent on Mar. 31, 2016. 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
