Mannkind Corporation (MNKD) swung to a net profit for the quarter ended Sep. 30, 2016. The company has made a net profit of $126.52 million, or $ 0.26 a share in the quarter, against a net loss of $31.86 million, or $0.08 a share in the last year period.
Revenues for the quarter were $162.35 million. The company has not recorded any revenues for the previous year period. Gross margin for the quarter was at 85.99 percent.
Operating income for the quarter was $118.23 million, compared with an operating loss of $26 million in the previous year period.
Working capital remains negativeWorking capital of Mannkind Corporation was negative $57.23 million on Sep. 30, 2016 compared with negative $196.07 million on Sep. 30, 2015. Current ratio was at 0.46 as on Sep. 30, 2016, up from 0.27 on Sep. 30, 2015. Debt comes down marginally
Mannkind Corporation has recorded a decline in total debt over the last one year. It stood at $98.52 million as on Sep. 30, 2016, down 3.20 percent or $3.25 million from $101.77 million on Sep. 30, 2015. Total debt was 102.48 percent of total assets as on Sep. 30, 2016, compared with 36.61 percent on Sep. 30, 2015.
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
