Support.com, Inc. (SPRT) saw its loss narrow to $2.13 million, or $0.04 a share for the quarter ended Sep. 30, 2016. In the previous year period, the company reported a loss of $3.87 million, or $0.07 a share. On the other hand, adjusted net loss for the quarter narrowed to $1.20 million, or $0.02 a share from a loss of $2.86 million or $0.05 a share, a year ago.
Revenue during the quarter dropped 13.09 percent to $15.53 million from $17.86 million in the previous year period. Gross margin for the quarter expanded 401 basis points over the previous year period to 22.93 percent. Operating margin for the quarter stood at negative 14.23 percent as compared to a negative 21.94 percent for the previous year period.
Operating loss for the quarter was $2.21 million, compared with an operating loss of $3.92 million in the previous year period.
"Q3 2016 showed good progress," said Rick Bloom, interim president and chief executive officer. "I look forward to working with the entire Support.com community and am excited about the prospects for the business and delivering shareholder value."
Working capital declines
Support.com, Inc. has witnessed a decline in the working capital over the last year. It stood at $57.76 million as at Sep. 30, 2016, down 20.49 percent or $14.89 million from $72.65 million on Sep. 30, 2015. Current ratio was at 7.98 as on Sep. 30, 2016, down from 9.40 on Sep. 30, 2015.
Days sales outstanding went up to 69 days for the quarter compared with 63 days for the same period last year.
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