EXFO Inc. has reported financial results for the first quarter ended November 30, 2016. Sales reached USD 61.8 million in the first quarter of fiscal 2017 compared to USD 55.2 million in the first quarter of 2016 and USD 62.9 million in the fourth quarter of 2016.

Bookings attained USD 65.9 million in the first quarter of fiscal 2017 compared to USD 58.5 million in the same period last year and USD 62.4 million in the fourth quarter of 2016. The company's book-to-bill ratio was 1.07 in the first quarter of 2017.

Gross margin before depreciation and amortization amounted to 63.1 percent of sales in the first quarter of fiscal 2017 compared to 63.5 percent in the first quarter of 2016 and 61.6 percent in the fourth quarter of 2016.

IFRS net earnings in the first quarter of fiscal 2017 totaled USD 3.3 million, or USD 0.06 per diluted share, compared to USD 1.8 million, or USD 0.03 per diluted share, in the same period last year and USD 2.3 million, or USD 0.04 per diluted share, in the fourth quarter of 2016. IFRS net earnings in the first quarter of 2017 included USD 0.4 million in after-tax amortization of intangible assets, USD 0.3 million in stock-based compensation costs, and a foreign exchange gain of USD 0.5 million.

Adjusted EBITDA totaled USD 6.3 million, or 10.2 percent of sales, in the first quarter of fiscal 2017 compared to USD 5.3 million, or 9.6 percent of sales in the first quarter of 2016 and USD 6.2 million, or9.8 percent of sales, in the fourth quarter of 2016. EXFO closed the acquisition of Absolute Analysis' assets in late October for USD 5.0 million in cash and USD 3.5 million in stock. At the end of the first quarter of fiscal 2017, EXFO had a cash position of USD 39.3 million and no debt.


 

 

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