Chart Industries, Inc. (GTLS) saw its loss narrow to $2.91 million, or $0.09 a share for the quarter ended Mar. 31, 2017. In the previous year period, the company reported a loss of $4.65 million, or $0.15 a share. On an adjusted basis, earnings per share were at $0.01 for the quarter compared with a loss of $0.08 a share in the same period last year. Revenue during the quarter grew 5.34 percent to $204.10 million from $193.76 million in the previous year period. Gross margin for the quarter expanded 7 basis points over the previous year period to 27.27 percent. Total expenses were 99.88 percent of quarterly revenues, down from 99.98 percent for the same period last year. This has led to an improvement of 10 basis points in operating margin to 0.12 percent.
Operating income for the quarter was $0.25 million, compared with $0.04 million in the previous year period.
Chart Industries, Inc. expects revenue to be in the range of $875 million to $925 million for financial year 2017. For financial year 2017, the company projects diluted earnings per share to be in the range of $0.60 to $1 on adjusted basis.
Operating cash flow drops significantlyChart Industries, Inc. has generated cash of $1.20 million from operating activities during the quarter, down 96.86 percent or $ 36.98 million, when compared with the last year period. The company has spent $31.40 million cash to meet investing activities during the quarter as against cash outgo of $5.23 million in the last year period.
The company has spent $3.21 million cash to carry out financing activities during the quarter as against cash inflow of $0.20 million in the last year period.
Cash and cash equivalents stood at $250.26 million as on Mar. 31, 2017, up 57.34 percent or $91.21 million from $159.05 million on Mar. 31, 2016.
Debt moves up
Chart Industries, Inc. has witnessed an increase in total debt over the last one year. It stood at $237.20 million as on Mar. 31, 2017, up 5.91 percent or $13.23 million from $223.97 million on Mar. 31, 2016. Total debt was 19.24 percent of total assets as on Mar. 31, 2017, compared with 19.03 percent on Mar. 31, 2016. Debt to equity ratio was almost stable at 0.34 as on Mar. 31, 2017, when compared with the 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: [email protected]
