Research Frontiers Inc. (REFR) saw its loss narrow to $0.95 million, or $0.04 a share for the quarter ended Mar. 31, 2017. In the previous year period, the company reported a loss of $1.18 million, or $0.05 a share. Revenue during the quarter dropped 3.91 percent to $0.39 million from $0.41 million in the previous year period.
Operating loss for the quarter was $0.95 million, compared with an operating loss of $1.19 million in the previous year period.
Operating cash flow remains negative
Research Frontiers Inc. has spent $0.65 million cash to meet operating activities during the quarter as against cash outgo of $1.04 million in the last year period. Cash and cash equivalents stood at $2.57 million as on Mar. 31, 2017, down 45.09 percent or $2.11 million from $4.67 million on Mar. 31, 2016.
Working capital drops significantly
Research Frontiers Inc. has witnessed a decline in the working capital over the last year. It stood at $3.31 million as at Mar. 31, 2017, down 53.26 percent or $3.77 million from $7.08 million on Mar. 31, 2016. Current ratio was at 8.86 as on Mar. 31, 2017, down from 13.49 on Mar. 31, 2016.
Days sales outstanding went down to 275 days for the quarter compared with 299 days for the same period last year.
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