XO Group Inc. (XOXO) swung to a net profit for the quarter ended Dec. 31, 2016. The company has made a net profit of $3.42 million, or $ 0.13 a share in the quarter, against a net loss of $2.16 million, or $0.09 a share in the last year period. On the other hand, adjusted net income for the quarter stood at $3.13 million, or $0.12 a share compared with $2.79 million or $0.11 a share, a year ago. Revenue during the quarter grew 7.50 percent to $41.01 million from $38.15 million in the previous year period. Gross margin for the quarter expanded 2 basis points over the previous year period to 92.59 percent. Total expenses were 87.60 percent of quarterly revenues, down from 88.43 percent for the same period last year. This has led to an improvement of 83 basis points in operating margin to 12.40 percent.
Operating income for the quarter was $5.09 million, compared with $4.42 million in the previous year period.
However, the adjusted operating income for the quarter stood at $5.09 million compared to $4.66 million in the prior year period. At the same time, adjusted operating margin improved 19 basis points in the quarter to 12.40 percent from 12.22 percent in the last year period.
"During the year, we made significant improvements to our consumer-facing products and our local wedding vendor marketplace that improved engagement and drove more value to our couples and our wedding pros. In 2017, we look forward to continuing to capitalize on our market leading position in weddings by more deeply engaging the couples we serve, intensifying our local sales efforts, and expanding guest and registry services," said Mike Steib, chief executive officer.
Working capital increasesXO Group Inc. has recorded an increase in the working capital over the last year. It stood at $100.70 million as at Dec. 31, 2016, up 20.57 percent or $17.18 million from $83.52 million on Dec. 31, 2015. Current ratio was at 4.31 as on Dec. 31, 2016, up from 3.71 on Dec. 31, 2015.
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