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28 February, 2024 17:23 IST
Thestreet first-quarter loss narrows on a YOY basis
Source: IRIS | 29 May, 2017, 09.28PM

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Thestreet (TST) saw its loss narrow to $1.13 million, or $0.03 a share for the quarter ended Mar. 31, 2017. In the previous year period, the company reported a loss of $3.44 million, or $0.10 a share.     

Revenue during the quarter dropped 4.91 percent to $15.28 million from $16.07 million in the previous year period. Gross margin for the quarter expanded 143 basis points over the previous year period to 52.35 percent. Operating margin for the quarter stood at negative 6.21 percent as compared to a negative 19.53 percent for the previous year period.

Operating loss for the quarter was $0.95 million, compared with an operating loss of $3.14 million in the previous year period.

However, the adjusted EBITDA for the quarter stood at $0.83 million compared with $0.80 million in the prior year period. At the same time, adjusted EBITDA margin improved 41 basis points in the quarter to 5.40 percent from 4.99 percent in the last year period.

"The turnaround we’ve been talking about for months began to show results in the first quarter," said David Callaway, president and chief executive officer. "Rising institutional revenue, tapering declines in consumer subscriptions, and renewed interest in our improved news coverage from advertisers, particularly in video, are reflecting our new management team’s hard work during 2016.” David Callaway continued, “This is just the beginning, and we look forward to showing continued improvement in the next three quarters."

Operating cash flow declinesThestreet has generated cash of $1.81 million from operating activities during the quarter, down 17.53 percent or $ 0.39 million, when compared with the last year period.

The company has spent $0.55 million cash to meet investing activities during the quarter as against cash outgo of $0.72 million in the last year period.

The company has spent $0.07 million cash to carry out financing activities during the quarter as against cash outgo of $0.01 million in the last year period.

Cash and cash equivalents stood at stood at $22.66 million as at Mar. 31, 2017.

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