Healthcare Services Group, Inc. (HCSG) has reported an 18.21 percent rise in profit for the quarter ended Mar. 31, 2017. The company has earned $22.02 million, or $0.30 a share in the quarter, compared with $18.63 million, or $0.26 a share for the same period last year.
Revenue during the quarter grew 5.12 percent to $404.49 million from $384.81 million in the previous year period. Gross margin for the quarter expanded 34 basis points over the previous year period to 14.57 percent. Total expenses were 92.41 percent of quarterly revenues, up from 92.36 percent for the same period last year. That has resulted in a contraction of 5 basis points in operating margin to 7.59 percent.
Operating income for the quarter was $30.71 million, compared with $29.42 million in the previous year period.
Working capital increases
Healthcare Services Group, Inc. has recorded an increase in the working capital over the last year. It stood at $334.06 million as at Mar. 31, 2017, up 15.63 percent or $45.15 million from $288.91 million on Mar. 31, 2016. Current ratio was at 3.84 as on Mar. 31, 2017, up from 3.82 on Mar. 31, 2016.
Days sales outstanding went up to 55 days for the quarter compared with 53 days for the same period last year.
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