Dover Motorsports, Inc (DVD) saw its loss widen to $2.40 million, or $0.07 a share for the quarter ended Mar. 31, 2017. In the previous year period, the company reported a loss of $2.34 million, or $0.06 a share. On the other hand, adjusted net loss for the quarter narrowed to $2.24 million, or $0.06 a share from a loss of $2.29 million or $0.06 a share, a year ago. Revenue during the quarter dropped 20.86 percent to $0.11 million from $0.14 million in the previous year period.
Operating loss for the quarter was $4.06 million, compared with an operating loss of $3.92 million in the previous year period.
Operating cash flow remains negative
Dover Motorsports, Inc has spent $2.18 million cash to meet operating activities during the quarter as against cash outgo of $1.12 million in the last year period. The company has spent $0.24 million cash to meet investing activities during the quarter as against cash outgo of $0.33 million in the last year period.
Cash flow from financing activities was $2.42 million for the quarter, up 50.56 percent or $0.81 million, when compared with the last year period.
Working capital decreases marginally
Dover Motorsports, Inc has witnessed a decline in the working capital over the last year. It stood at $21.56 million as at Mar. 31, 2017, down 3.27 percent or $0.73 million from $22.29 million on Mar. 31, 2016. Current ratio was at 3.91 as on Mar. 31, 2017, up from 3.60 on Mar. 31, 2016.
Days sales outstanding went up to 659 days for the quarter compared with 525 days for the same period last year.
Debt comes down
Dover Motorsports, Inc has recorded a decline in total debt over the last one year. It stood at $6.36 million as on Mar. 31, 2017, down 16.09 percent or $1.22 million from $7.58 million on Mar. 31, 2016. Dover Motorsports has recorded a decline in long-term debt over the last one year. It stood at $6.36 million as on Mar. 31, 2017, down 16.09 percent or $1.22 million from $7.58 million on Mar. 31, 2016. Total debt was 7.72 percent of total assets as on Mar. 31, 2017, compared with 8.88 percent on Mar. 31, 2016. Debt to equity ratio was at 0.12 as on Mar. 31, 2017, down from 0.15 as 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: [email protected]