STRATA Skin Sciences, Inc. (SSKN) saw its loss widen to $0.89 million, or $0.09 a share for the quarter ended Dec. 31, 2016. In the previous year period, the company reported a loss of $0.59 million, or $0.06 a share.
Revenue during the quarter dropped 8.96 percent to $8.63 million from $9.48 million in the previous year period. Gross margin for the quarter expanded 203 basis points over the previous year period to 65.18 percent. Operating margin for the quarter period stood at positive 4.68 percent as compared to a negative 15.98 percent for the previous year period.
Operating income for the quarter was $0.40 million, compared with an operating loss of $1.52 million in the previous year period.
However, the adjusted EBITDA for the quarter stood at $1.66 million compared with $0.47 million in the prior year period. At the same time, adjusted EBITDA margin improved 1430 basis points in the quarter to 19.23 percent from 4.94 percent in the last year period.
"We are in the process of implementing a strategy that we believe will enhance our offering to the dermatology community and accelerate growth in our business," stated Frank McCaney, president and chief executive officer of STRATA. "The initiatives we rolled out in recent months, together with work conducted under my predecessor, had a positive impact on our Q4 results. We continue to believe that medical office practices are undergoing significant changes and we are adjusting our business with the goal of better serving the needs of our customers and the marketplace. Our response to those changes underlies our longer term thinking about how best to grow our enterprise."
Operating cash flow turns positive
STRATA Skin Sciences, Inc. has generated cash of $0.32 million from operating activities during the year as against cash outgo of $6.57 million in the last year.
The company has spent $0.87 million cash to meet investing activities during the year as against cash outgo of $44.24 million in the last year.
Cash flow from financing activities was $1.17 million for the year, down 97.27 percent or $41.50 million, when compared with the last year.
Cash and cash equivalents stood at $3.93 million as on Dec. 31, 2016, up 18.92 percent or $0.62 million from $3.30 million on Dec. 31, 2015.
Working capital declines
STRATA Skin Sciences, Inc. has witnessed a decline in the working capital over the last year. It stood at $4.62 million as at Dec. 31, 2016, down 5.73 percent or $0.28 million from $4.90 million on Dec. 31, 2015. Current ratio was at 1.75 as on Dec. 31, 2016, up from 1.69 on Dec. 31, 2015.
Debt moves up
STRATA Skin Sciences, Inc. has witnessed an increase in total debt over the last one year. It stood at $23.83 million as on Dec. 31, 2016, up 19.23 percent or $3.84 million from $19.99 million on Dec. 31, 2015. Total debt was 55.18 percent of total assets as on Dec. 31, 2016, compared with 38.91 percent on Dec. 31, 2015. Debt to equity ratio was at 1.62 as on Dec. 31, 2016, up from 1.24 as on Dec. 31, 2015.
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