INTREXON CORPORATION (XON) saw its loss narrow to $31.40 million, or $0.26 a share for the quarter ended Mar. 31, 2017. In the previous year period, the company reported a loss of $64.43 million, or $0.55 a share.
Revenue during the quarter grew 23.73 percent to $53.75 million from $43.44 million in the previous year period. Gross margin for the quarter expanded 566 basis points over the previous year period to 70.58 percent. Operating margin for the quarter stood at negative 58.39 percent as compared to a negative 93.31 percent for the previous year period.
Operating loss for the quarter was $31.38 million, compared with an operating loss of $40.53 million in the previous year period.
Adjusted EBITDA for the quarter stood at negative $7.12 million compared to negative $11.65 million in the prior year second quarter. At the same time, adjusted EBITDA margin stood at negative 13.24 percent for the quarter compared to negative 26.82 percent in the last year period.
"Considering the company’s progress in the first quarter and year to date," commented Randal J. Kirk, chairman and chief executive officer of Intrexon, "I am gratified by the vision that underlies this company, by the business plan that has made it possible to do so much relative to such a modest expenditure of our shareholder’s cash, by the confidence of our shareholders, our board and our team in that plan’s ultimate feasibility and by the patience of all while our brilliant team would mature the company’s technical assets and human capital into realizations that will make a great difference in the world."
Working capital drops significantlyINTREXON has witnessed a decline in the working capital over the last year. It stood at $191.02 million as at Mar. 31, 2017, down 26.13 percent or $67.58 million from $258.60 million on Mar. 31, 2016. Current ratio was at 3.11 as on Mar. 31, 2017, down from 4.32 on Mar. 31, 2016. Cash conversion cycle (CCC) has decreased to 98 days for the quarter from 218 days for the last year period. Days sales outstanding went down to 80 days for the quarter compared with 101 days for the same period last year.
Days inventory outstanding has decreased to 54 days for the quarter compared with 154 days for the previous year period. At the same time, days payable outstanding was almost stable at 37 days for the quarter, when compared with the previous year period.
Debt comes downINTREXON has recorded a decline in total debt over the last one year. It stood at $8.41 million as on Mar. 31, 2017, down 7.03 percent or $0.64 million from $9.04 million on Mar. 31, 2016. Total debt was 0.92 percent of total assets as on Mar. 31, 2017, compared with 0.94 percent on Mar. 31, 2016. Debt to equity ratio was almost stable at 0.02 as on Mar. 31, 2017, when compared with the last year. Disclaimer: Please note that this is an auto-generated article. IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website. For queries contact: editor@irisindia.net
