Jive Software Inc (JIVE) swung to a net profit for the quarter ended Dec. 31, 2016. The company has made a net profit of $0.92 million, or $ 0.01 a share in the quarter, against a net loss of $8.55 million, or $0.11 a share in the last year period. On an adjusted basis, net profit for the quarter stood at $5.42 million, or $0.07 a share compared with a net loss of $3.93 million, or $0.05 a share in the last year period.
Revenue during the quarter grew 3.08 percent to $51.70 million from $50.15 million in the previous year period. Gross margin for the quarter expanded 710 basis points over the previous year period to 69.91 percent. Operating margin for the quarter period stood at positive 1.18 percent as compared to a negative 15.07 percent for the previous year period.
Operating income for the quarter was $0.61 million, compared with an operating loss of $7.56 million in the previous year period.
However, the adjusted operating profit for the quarter stood at $5.12 million compared to operating loss of $2.94 million in prior year period.
“Strong execution resulted in another quarter that exceeded our expectations as we achieved record revenue, continued to improve profitability, increased cash flow from operations and gained momentum across the business,” said Elisa Steele, chief executive officer of Jive Software. “GAAP income from operations for the fourth quarter was $0.6 million, an increase of $8.2 million compared to one year ago. Non-GAAP operating income was $5.1 million, and represents the third quarter in a row that we have delivered on our commitment to operate within a sustainably profitable non-GAAP operating model. In addition, we generated $9.8 million in positive cash flow from operations compared to negative $4.2 million in the fourth quarter last year.”
For the first-quarter, Jive Software expects revenue to be in the range of $50 million to $51 million. The company expects adjusted operating income to be in the range of $3.30 million to $4.30 million for the first-quarter. On an adjusted basis, the company projects diluted earnings per share to be in the range of $0.04 to $0.05 for the first-quarter.
Operating cash flow improves significantly
Jive Software Inc has generated cash of $4.29 million from operating activities during the year, up 1,352.88 percent or $3.99 million, when compared with the last year.
Cash flow from investing activities was $19.35 million from investing activities during the year as against cash outgo of $10.06 million in the last year.
The company has spent $3.85 million cash to carry out financing activities during the year as against cash outgo of $1.01 million in the last year period.
Cash and cash equivalents stood at $29.56 million as on Dec. 31, 2016, up 199.49 percent or $19.69 million from $9.87 million on Dec. 31, 2015.
Working capital increases sharply
Jive Software Inc has recorded an increase in the working capital over the last year. It stood at $33.27 million as at Dec. 31, 2016, up 60.13 percent or $12.49 million from $20.78 million on Dec. 31, 2015. Current ratio was at 1.22 as on Dec. 31, 2016, up from 1.14 on Dec. 31, 2015.
Debt comes down significantly
Jive Software Inc has recorded a decline in total debt over the last one year. It stood at $0.60 million as on Dec. 31, 2016, down 83.33 percent or $3 million from $3.60 million on Dec. 31, 2015. Total debt was 0.26 percent of total assets as on Dec. 31, 2016, compared with 1.53 percent on Dec. 31, 2015. Debt to equity ratio was at 0.01 as on Dec. 31, 2016, down from 0.06 as on Dec. 31, 2015.
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