Dover Downs Gaming & Entertainment, Inc (DDE) saw its loss narrow to $0.18 million, or $0.01 a share for the quarter ended Mar. 31, 2017. In the previous year period, the company reported a loss of $0.24 million, or $0.01 a share. Revenue during the quarter went down marginally by 1.27 percent to $44.15 million from $44.72 million in the previous year period. Gross margin for the quarter expanded 27 basis points over the previous year period to 7.54 percent. Total expenses were 99.88 percent of quarterly revenues, down from 99.92 percent for the same period last year. This has led to an improvement of 4 basis points in operating margin to 0.12 percent.
Operating income for the quarter was $0.05 million, compared with $0.03 million in the previous year period.
Operating cash flow drops significantly
Dover Downs Gaming & Entertainment, Inc has generated cash of $1.02 million from operating activities during the quarter, down 57.81 percent or $ 1.40 million, when compared with the last year period. The company has spent $0.58 million cash to meet investing activities during the quarter as against cash outgo of $1.28 million in the last year period.
The company has spent $1.32 million cash to carry out financing activities during the quarter as against cash outgo of $0.57 million in the last year period.
Cash and cash equivalents stood at $10.80 million as on Mar. 31, 2017, down 2.48 percent or $0.28 million from $11.08 million on Mar. 31, 2016.
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