The Carlyle Group L.P (CG) saw its loss widen to $8.90 million, or $0.16 a share for the quarter ended Dec. 31, 2016. In the previous year period, the company reported a loss of $4.60 million, or $0.06 a share. Revenue during the quarter dropped 19.54 percent to $575.90 million from $715.80 million in the previous year period. Total expenses were 27.52 percent of quarterly revenues, up from 24.25 percent for the same period last year. That has resulted in a contraction of 327 basis points in operating margin to 72.48 percent.
Operating income for the quarter was $417.40 million, compared with $542.20 million in the previous year period.
However, the adjusted EBITDA for the quarter stood at $29.60 million compared with $166.50 million in the prior year period. At the same time, adjusted EBITDA margin contracted 1812 basis points in the quarter to 5.14 percent from 23.26 percent in the last year period.
Debt comes down significantly
The Carlyle Group L.P has recorded a decline in total debt over the last one year. It stood at $5,210.90 million as on Dec. 31, 2016, down 71.50 percent or $13,074.30 million from $18,285.20 million on Dec. 31, 2015. Total debt was 52.25 percent of total assets as on Dec. 31, 2016, compared with 56.80 percent on Dec. 31, 2015. Interest coverage ratio improved to 3.94 for the quarter from 1.92 for the same period last year.
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