Dynasil Corporation Of America (DYSL) saw its loss widen to $0.06 million in the quarter ended compared with $0.03 million a year ago.
Revenue during the quarter dropped 10.72 percent to $10.08 million from $11.30 million in the previous year period. Gross margin for the quarter expanded 146 basis points over the previous year period to 37.56 percent. Operating margin for the quarter stood at negative 0.03 percent as compared to a positive 0.36 percent for the previous year period.
"I am happy to report that both of our operating segments continued to be profitable both for the quarter and six months ended March 31, 2017, showing continued improvements in gross profit margin," said chief executive officer Peter Sulick. "Our operating businesses are continuing to make strides in improving yields and productivity."
Working capital increases sharply
Dynasil Corporation Of America has recorded an increase in the working capital over the last year. It stood at $5.90 million as at Mar. 31, 2017, up 298.31 percent or $4.42 million from $1.48 million on Mar. 31, 2016. Current ratio was at 2.03 as on Mar. 31, 2017, up from 1.14 on Mar. 31, 2016.
Cash conversion cycle (CCC) has decreased to 41 days for the quarter from 55 days for the last year period. Days sales outstanding went down to 35 days for the quarter compared with 37 days for the same period last year.
Days inventory outstanding has decreased to 28 days for the quarter compared with 46 days for the previous year period. At the same time, days payable outstanding went down to 22 days for the quarter from 29 for the same period last year.
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