Telephone and Data Systems, Inc (TDS) saw its loss widen to $5 million, or $0.05 a share for the quarter ended Dec. 31, 2016. In the previous year period, the company reported a loss of $1 million, or $0.01 a share. Revenue during the quarter went up marginally by 0.31 percent to $1,278 million from $1,274 million in the previous year period. Gross margin for the quarter contracted 21 basis points over the previous year period to 15.88 percent. Operating margin for the quarter stood at negative 1.25 percent as compared to a negative 0.86 percent for the previous year period.
Operating loss for the quarter was $16 million, compared with an operating loss of $11 million in the previous year period.
"In 2016, the TDS family of companies continued to execute on our long-term strategic goals," said LeRoy T. Carlson, Jr., TDS President and Chief executive officer. "U.S. Cellular worked to strengthen its competitive advantages through network enhancements and other improvements to increase customer satisfaction. TDS Telecom successfully completed two substantial projects to support its broadband strategy: fiber deployment and cable analog reclamation.
Operating cash flow falls marginally
Telephone and Data Systems, Inc has generated cash of $782 million from operating activities during the year, down 1.01 percent or $8 million, when compared with the last year. The company has spent $808 million cash to meet investing activities during the year as against cash outgo of $738 million in the last year.
The company has spent $59 million cash to carry out financing activities during the year as against cash inflow of $461 million in the last year period.
Cash and cash equivalents stood at $900 million as on Dec. 31, 2016, down 8.63 percent or $85 million from $985 million on Dec. 31, 2015.
Working capital decreases marginally
Telephone and Data Systems, Inc has witnessed a decline in the working capital over the last year. It stood at $1,172 million as at Dec. 31, 2016, down 3.46 percent or $41.96 million from $1,213.96 million on Dec. 31, 2015. Current ratio was at 2.32 as on Dec. 31, 2016, up from 2.29 on Dec. 31, 2015.
Debt remains almost stable
Total debt of Telephone and Data Systems, Inc remained almost stable for the quarter at $2,445 million, when compared with the last year period. Total debt was 25.88 percent of total assets as on Dec. 31, 2016, compared with 26.04 percent on Dec. 31, 2015. Debt to equity ratio was almost stable at 0.51 as on Dec. 31, 2016, when compared with the last year. 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
