Onvia, Inc. (ONVI) swung to a net loss for the quarter ended Mar. 31, 2017. The company has made a net loss of $0.83 million in the quarter, against a net profit of $0.02 million in the last year period. Revenue during the quarter went up marginally by 0.54 percent to $6.10 million from $6.06 million in the previous year period. Gross margin for the quarter expanded 112 basis points over the previous year period to 88.52 percent. Operating margin for the quarter stood at negative 13.72 percent as compared to a positive 0.20 percent for the previous year period.
Operating loss for the quarter was $0.84 million, compared with an operating income of $0.01 million in the previous year period.
However, the adjusted EBITDA for the quarter stood at $0.05 million compared with $0.56 million in the prior year period. At the same time, adjusted EBITDA margin contracted 842 basis points in the quarter to 0.82 percent from 9.24 percent in the last year period.
Operating cash flow drops significantlyOnvia, Inc. has generated cash of $0.16 million from operating activities during the quarter, down 90.05 percent or $ 1.48 million, when compared with the last year period. The company has spent $0.42 million cash to meet investing activities during the quarter as against cash outgo of $0.67 million in the last year period.
Cash flow from financing activities was almost stable for the quarter at $0.11 million, when compared with the previous year period.
Cash and cash equivalents stood at $2.16 million as on Mar. 31, 2017, down 11.80 percent or $0.29 million from $2.45 million on Mar. 31, 2016.
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
