EnPro Industries, Inc. (NPO) swung to a net profit for the quarter ended Mar. 31, 2017. The company has made a net profit of $6.40 million, or $ 0.30 a share in the quarter, against a net loss of $46.80 million, or $2.15 a share in the last year period. On an adjusted basis, net profit for the quarter stood at $9.50 million, or $0.44 a share compared with a net loss of $0.20 million, or $0.01 a share in the last year period. Revenue during the quarter went up marginally by 0.31 percent to $295.80 million from $294.90 million in the previous year period. Gross margin for the quarter expanded 125 basis points over the previous year period to 34.35 percent. Operating margin for the quarter period stood at positive 9.26 percent as compared to a negative 24.55 percent for the previous year period.
Operating income for the quarter was $27.40 million, compared with an operating loss of $72.40 million in the previous year period.
Operating cash flow remains negative
EnPro Industries, Inc. has spent $19.60 million cash to meet operating activities during the quarter as against cash outgo of $28.40 million in the last year period. The company has spent $16.60 million cash to meet investing activities during the quarter as against cash outgo of $6.90 million in the last year period.
Cash flow from financing activities was $37.50 million for the quarter, down 15.54 percent or $6.90 million, when compared with the last year period.
Cash and cash equivalents stood at stood at $113.70 million as at Mar. 31, 2017.
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