Live news , top stories, corporate news, company news, sector news, economy news, results analysis news, ceo interviews, fund manager interview, advisor interview, market news, bazaar talk, hot stocks news, ipo news, commodities news, mutual fund news, insurance news, news wire
28 February, 2024 18:11 IST
HC2 HOLDINGS first-quarter loss narrows on a YOY basis
Source: IRIS | 28 Jun, 2017, 03.33PM

Powered by IRIS XBRL Data
Rating: NAN / 5 stars.
Comments  |  Post Comment

HC2 Holdings, Inc. (HCHC) saw its loss narrow to $14.50 million, or $0.36 a share for the quarter ended Mar. 31, 2017. In the previous year period, the company reported a loss of $30.46 million, or $0.89 a share.      

Revenue during the quarter grew 17.73 percent to $390.57 million from $331.74 million in the previous year period. Gross margin for the quarter expanded 226 basis points over the previous year period to 19.50 percent. Operating margin for the quarter period stood at positive 0.25 percent as compared to a negative 5.81 percent for the previous year period.

Operating income for the quarter was $0.97 million, compared with an operating loss of $19.26 million in the previous year period.

However, the adjusted EBITDA for the quarter stood at $16.69 million compared with $0.32 million in the prior year period. At the same time, adjusted EBITDA margin improved 418 basis points in the quarter to 4.27 percent from 0.10 percent in the last year period.

“The first quarter marked a solid start to the year and a continuation of the many successes we achieved in 2016,” said Philip Falcone, HC2s chairman, president and chief executive officer. “We are very pleased with our first quarter results, which further support our confidence in HC2s long-term model. During the quarter, our portfolio performed well, with many subsidiaries achieving significant milestones and accomplishments. In particular, Global Marine experienced strong operating results with solid performance from their core maintenance and power businesses, in addition to very robust performance from their joint venture with Huawei Marine. MediBeacon, a company within our Pansend Life Sciences platform, also announced a significant milestone with the successful completion of a key clinical study of its groundbreaking kidney function monitor."

Debt moves up
HC2 Holdings, Inc. has witnessed an increase in total debt over the last one year. It stood at $
445.62 million as on Mar. 31, 2017, up 13.03 percent or $51.38 million from $394.24 million on Mar. 31, 2016. HC2 Holdings, Inc. has witnessed an increase in long-term debt over the last one year. Total debt was 15.60 percent of total assets as on Mar. 31, 2017, compared with 14.26 percent on Mar. 31, 2016. Debt to equity ratio was at 6.70 as on Mar. 31, 2017, up from 3.43 as on Mar. 31, 2016.     Disclaimer: Please note that this is an auto-generated article. IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website. For queries contact: [email protected]



 Post Comment
Name Email
Comment
Security Code type    into this box
US Equities
Innodata Isogen swings to first-quarter loss on a YOY basis - 10-Jul-2017 03:29
Echelon Corp first-quarter loss widens on a YOY basis - 09-Jul-2017 20:32
Diversicare Healthcare Services swings to first-quarter profit on a YOY basis - 09-Jul-2017 19:51
Dextera Surgical third-quarter loss widens on a YOY basis - 09-Jul-2017 18:20
Open Text Corp third-quarter earnings plunge by 68.72 percent on a YOY basis - 09-Jul-2017 15:17
NAPCO Security Technologies third-quarter earnings decline by 12.19 percent on a YOY basis - 09-Jul-2017 14:31
Patriot National Bancorp first-quarter profit jumps 165.75 percent on a YOY basis - 09-Jul-2017 13:29
Patriot National Bancorp first-quarter profit jumps 165.75 percent on a YOY basis - 09-Jul-2017 13:29
Alaska Communications Systems Group swings to first-quarter loss on a YOY basis - 09-Jul-2017 12:00
Delcath Systems first-quarter loss widens on a YOY basis - 08-Jul-2017 18:33
Edgewater Technology first-quarter loss widens on a YOY basis - 08-Jul-2017 16:21
more...
Home  |   Shares  |   F&O  |   Mutual Funds  |   Loans  |   Insurance  |   News Centre
Wealth Tracker  |   Newsletters  |   Tax Corner  |   NRI Centre  |   Advertise
© All rights reserved. IRIS Business Services Limited
A Disclaimer