Rocky Mountain Chocolate Factory, Inc. (RMCF) has reported a 70.02 percent plunge in profit for the quarter ended Feb. 28, 2017. The company has earned $0.73 million, or $0.12 a share in the quarter, compared with $2.44 million, or $0.41 a share for the same period last year.
Revenue during the quarter dropped 5.89 percent to $10.36 million from $11.01 million in the previous year period. Gross margin for the quarter contracted 467 basis points over the previous year period to 28.74 percent. Operating margin for the quarter period stood at positive 11.32 percent as compared to a negative 5.88 percent for the previous year period.
Operating income for the quarter was $1.17 million, compared with an operating loss of $0.65 million in the previous year period.
However, the adjusted EBITDA for the quarter stood at $1.64 million compared with $2.18 million in the prior year period. At the same time, adjusted EBITDA margin contracted 404 basis points in the quarter to 15.79 percent from 19.83 percent in the last year period.
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