INTREXON (XON) saw its loss narrow to $28.98 million, or $0.24 a share for the quarter ended Sep. 30, 2016. In the previous year period, the company reported a loss of $38.21 million, or $0.34 a share. On an adjusted basis, loss per share was at $0.03 for the quarter compared with a profit of $0.07a share in the same period last year.
Revenue during the quarter dropped 8.21 percent to $48.98 million from $53.37 million in the previous year period. Gross margin for the quarter expanded 69 basis points over the previous year period to 69.46 percent. Operating margin for the quarter stood at negative 58.84 percent as compared to a negative 14.83 percent for the previous year period.
Operating loss for the quarter was $28.82 million, compared with an operating loss of $7.92 million in the previous year period.
However, the adjusted EBITDA for the quarter stood at negative $3.75 million compared with $7.79 million in the prior year period. At the same time, adjusted EBITDA margin stood at negative 7.65 percent for the quarter compared to 14.60 percent in the last year period.
"While maintaining our capital efficiency, our team has made good progress across multiple dimensions," commented Randal J. Kirk, chairman and chief executive officer of Intrexon. “We have devoted considerable resources toward bringing to market the more mature portion of our portfolio, while advancing a large number of developmental projects, both partnered and internal, and growing our capabilities ��" through the addition of personnel, now numbering approximately 900, improving our leadership team and expanding our technologic capabilities."
Working capital decreases marginallyINTREXON has witnessed a decline in the working capital over the last year. It stood at $215.70 million as at Sep. 30, 2016, down 4.28 percent or $9.64 million from $225.34 million on Sep. 30, 2015. Current ratio was at 3.15 as on Sep. 30, 2016, down from 3.92 on Sep. 30, 2015. Cash conversion cycle (CCC) has decreased to 211 days for the quarter from 290 days for the last year period. Days sales outstanding went up to 191 days for the quarter compared with 187 days for the same period last year.
Days inventory outstanding has decreased to 67 days for the quarter compared with 136 days for the previous year period. At the same time, days payable outstanding went up to 47 days for the quarter from 33 for the same period last year.
Debt comes downINTREXON has recorded a decline in total debt over the last one year. It stood at $8.97 million as on Sep. 30, 2016, down 6.42 percent or $0.62 million from $9.58 million on Sep. 30, 2015. Total debt was 0.89 percent of total assets as on Sep. 30, 2016, compared with 0.97 percent on Sep. 30, 2015. Debt to equity ratio was almost stable at 0.01 as on Sep. 30, 2016, 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
