Copa Holdings, S.A. (CPA) has reported an 1,091.34 percent jump in profit for the quarter ended Sep. 30, 2016. The company has earned $74.02 million, or $1.75 a share in the quarter, compared with $6.21 million, or $0.14 a share for the same period last year. On the other hand, adjusted net income for the quarter stood at $55.28 million, or $1.30 a share compared with $37.41 million or $0.85 a share, a year ago.
Revenue during the quarter grew 3.98 percent to $569.02 million from $547.25 million in the previous year period. Gross margin for the quarter expanded 174 basis points over the previous year period to 40.36 percent. Total expenses were 86.43 percent of quarterly revenues, down from 90.76 percent for the same period last year. This has led to an improvement of 433 basis points in operating margin to 13.57 percent.
Operating income for the quarter was $77.19 million, compared with $50.56 million in the previous year period.
Operating cash flow improves significantly
Copa Holdings, S.A. has generated cash of $384.82 million from operating activities during the nine month period, up 62.55 percent or $148.08 million, when compared with the last year period.
The company has spent $170.06 million cash to meet investing activities during the nine month period as against cash outgo of $39.66 million in the last year period.
The company has spent $197.68 million cash to carry out financing activities during the nine month period as against cash outgo of $282.98 million in the last year period.
Cash and cash equivalents stood at stood at $221.80 million as at Sep. 30, 2016.
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