GOLAR LNG (GLNG) saw its loss narrow to $65.84 million in the quarter ended compared with $86.61 million, a year ago. Revenue during the quarter surged 51.66 percent to $25.11 million from $16.56 million in the previous year period. Gross margin for the quarter contracted 25 basis points over the previous year period to 32.58 percent.
Operating loss for the quarter was $41.39 million, compared with an operating loss of $42.85 million in the previous year period.
Operating cash flow turns negativeGOLAR LNG has spent $14.69 million cash to meet operating activities during the quarter as against cash inflow of $4.45 million in the last year period. The company has spent $77.76 million cash to meet investing activities during the quarter as against cash outgo of $26.21 million in the last year period.
Cash flow from financing activities was $324.96 million for the quarter, up 3,341.68 percent or $315.52 million, when compared with the last year period.
Cash and cash equivalents stood at $456.71 million as on Mar. 31, 2017, up 391.53 percent or $363.79 million from $92.92 million on Mar. 31, 2016.
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