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Vantiv, Inc. (VNTV) has reported 6.05 percent fall in profit for the quarter ended Dec. 31, 2016. The company has earned $47.85 million, or $0.29 a share in the quarter, compared with $50.93 million, or $0.31 a share for the same period last year. On the other hand, adjusted net income for the quarter stood at $148.12 million, or $0.75 a share compared with $128.41 million or $0.65 a share, a year ago.
Revenue during the quarter grew 12.06 percent to $955.13 million from $852.33 million in the previous year period. Gross margin for the quarter contracted 57 basis points over the previous year period to 52.60 percent. Total expenses were 84.01 percent of quarterly revenues, down from 84.55 percent for the same period last year. This has led to an improvement of 54 basis points in operating margin to 15.99 percent.
Operating income for the quarter was $152.74 million, compared with $131.66 million in the previous year period.
However, the adjusted EBITDA for the quarter stood at $248.45 million compared with $222.34 million in the prior year period. At the same time, adjusted EBITDA margin contracted 7 basis points in the quarter to 26.01 percent from 26.09 percent in the last year period.
"I am delighted to continue our trend of consistently generating double-digit organic growth and successful financial results," said Charles Drucker, president and chief executive officer at Vantiv. "Our pattern of success shows that our strategy to expand into high growth channels and verticals is working, and it also highlights that our people consistently execute at the highest level."
For the first-quarter, Vantiv expects revenue to be in the range of $465 million to $470 million. The company projects diluted earnings per share to be in the range of $0.24 to $0.26. On an adjusted basis, the company projects diluted earnings per share to be in the range of $0.63 to $0.65.
For financial year 2017, Vantiv expects revenue to be in the range of $2,080 million to $2,120 million. The company projects diluted earnings per share to be in the range of $1.61 to $1.68. The company projects diluted earnings per share to be in the range of $3.14 to $3.21 on adjusted basis.
Operating cash flow declines
Vantiv, Inc. has generated cash of $668.59 million from operating activities during the year, down 11.78 percent or $89.29 million, when compared with the last year.
The company has spent $570.12 million cash to meet investing activities during the year as against cash outgo of $126.73 million in the last year.
The company has spent $156.42 million cash to carry out financing activities during the year as against cash outgo of $845.62 million in the last year period.
Cash and cash equivalents stood at $139.15 million as on Dec. 31, 2016, down 29.40 percent or $57.95 million from $197.10 million on Dec. 31, 2015.
Working capital remains negative
Working capital of Vantiv, Inc. was negative $401.15 million on Dec. 31, 2016 compared with negative $177.88 million on Dec. 31, 2015. Current ratio was at 0.76 as on Dec. 31, 2016, down from 0.86 on Dec. 31, 2015.
Days sales outstanding went up to 45 days for the quarter compared with 37 days for the same period last year.
Debt moves up marginally
Vantiv, Inc. has witnessed an increase in total debt over the last one year. It stood at $3,241.82 million as on Dec. 31, 2016, up 4.92 percent or $151.94 million from $3,089.87 million on Dec. 31, 2015. Total debt was 46.02 percent of total assets as on Dec. 31, 2016, compared with 47.79 percent on Dec. 31, 2015. Debt to equity ratio was at 2.02 as on Dec. 31, 2016, down from 2.52 as on Dec. 31, 2015.
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