Spectrum Pharmaceuticals third-quarter loss narrows on a YOY basis
Source: IRIS | 16 Nov, 2016, 12.09AM
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 Spectrum Pharmaceuticals, Inc (SPPI) saw its loss narrow to $17.46 million, or $0.22 a share for the quarter ended Sep. 30, 2016. In the previous year period, the company reported a loss of $18.72 million, or $0.28 a share. On the other hand, adjusted net loss for the quarter narrowed to $5.26 million, or $0.07 a share from a loss of $7.86 million or $0.12 a share, a year ago. Revenue during the quarter grew 16.65 percent to $33.39 million from $28.63 million in the previous year period. Operating margin for the quarter stood at negative 47.90 percent as compared to a negative 56.15 percent for the previous year period. Operating loss for the quarter was $16 million, compared with an operating loss of $16.07 million in the previous year period. Working capital increases sharply
Spectrum Pharmaceuticals, Inc has recorded an increase in the working capital over the last year. It stood at $169.08 million as at Sep. 30, 2016, up 57.74 percent or $61.89 million from $107.19 million on Sep. 30, 2015. Current ratio was at 3.71 as on Sep. 30, 2016, up from 2.05 on Sep. 30, 2015. Days sales outstanding went down to 137 days for the quarter compared with 179 days for the same period last year. Debt moves up marginally
Spectrum Pharmaceuticals, Inc has witnessed an increase in total debt over the last one year. It stood at $104.14 million as on Sep. 30, 2016, up 3.94 percent or $3.95 million from $100.19 million on Sep. 30, 2015. Spectrum Pharmaceuticals has witnessed an increase in long-term debt over the last one year. It stood at $104.14 million as on Sep. 30, 2016, up 3.94 percent or $3.95 million from $100.19 million on Sep. 30, 2015. Total debt was 23.17 percent of total assets as on Sep. 30, 2016, compared with 22.38 percent on Sep. 30, 2015. Debt to equity ratio was at 0.42 as on Sep. 30, 2016, down from 0.47 as 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
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