Gaming Partners International Corp (GPIC) has reported a 46.09 percent jump in profit for the quarter ended Sep. 30, 2016. The company has earned $2.45 million, or $0.30 a share in the quarter, compared with $1.68 million, or $0.21 a share for the same period last year.
Revenue during the quarter grew 13.68 percent to $22.56 million from $19.84 million in the previous year period. Gross margin for the quarter expanded 83 basis points over the previous year period to 33.35 percent. Total expenses were 84.56 percent of quarterly revenues, down from 89.81 percent for the same period last year. This has led to an improvement of 525 basis points in operating margin to 15.44 percent.
Operating income for the quarter was $3.48 million, compared with $2.02 million in the previous year period.
Working capital decreases marginally
Gaming Partners International Corp has witnessed a decline in the working capital over the last year. It stood at $27.03 million as at Sep. 30, 2016, down 1.09 percent or $0.30 million from $27.33 million on Sep. 30, 2015. Current ratio was at 2.61 as on Sep. 30, 2016, up from 2.59 on Sep. 30, 2015.
Cash conversion cycle (CCC) has decreased to 63 days for the quarter from 83 days for the last year period. Days sales outstanding were almost stable at 42 days for the quarter, when compared with the last year period.
Days inventory outstanding has decreased to 48 days for the quarter compared with 70 days for the previous year period. At the same time, days payable outstanding went down to 27 days for the quarter from 29 for the same period last year.
Debt comes down
Gaming Partners International Corp has recorded a decline in total debt over the last one year. It stood at $8.35 million as on Sep. 30, 2016, down 13.70 percent or $1.33 million from $9.68 million on Sep. 30, 2015. Total debt was 9.99 percent of total assets as on Sep. 30, 2016, compared with 12.64 percent on Sep. 30, 2015. Debt to equity ratio was at 0.14 as on Sep. 30, 2016, down from 0.19 as on Sep. 30, 2015.
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