Network-1 Technologies, Inc. (NTIP) has reported a 2,561.43 percent jump in profit for the quarter ended Sep. 30, 2016. The company has earned $10.83 million, or $0.43 a share in the quarter, compared with $0.41 million, or $0.02 a share for the same period last year.
Revenue during the quarter surged 1,041.16 percent to $34.33 million from $3.01 million in the previous year period. Gross margin for the quarter contracted 1854 basis points over the previous year period to 50.64 percent. Total expenses were 53.14 percent of quarterly revenues, down from 77.26 percent for the same period last year. This has led to an improvement of 2412 basis points in operating margin to 46.86 percent.
Operating income for the quarter was $16.08 million, compared with $0.68 million in the previous year period.
Working capital increases sharply
Network-1 Technologies, Inc. has recorded an increase in the working capital over the last year. It stood at $50.18 million as at Sep. 30, 2016, up 151.60 percent or $30.24 million from $19.94 million on Sep. 30, 2015. Current ratio was at 5.96 as on Sep. 30, 2016, down from 21.71 on Sep. 30, 2015.
Days sales outstanding went down to 2 days for the quarter compared with 54 days for the same period last year.
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