Archrock Partners, L.P. (APLP) swung to a net loss for the quarter ended Sep. 30, 2016. The company has made a net loss of $0.57 million in the quarter, against a net profit of $11.50 million in the last year period.
Revenue during the quarter dropped 17.03 percent to $135.48 million from $163.29 million in the previous year period. Gross margin for the quarter expanded 158 basis points over the previous year period to 62.46 percent. Total expenses were 86.15 percent of quarterly revenues, up from 80.86 percent for the same period last year. That has resulted in a contraction of 529 basis points in operating margin to 13.85 percent.
However, the adjusted EBITDA for the quarter stood at $67.92 million compared with $78.20 million in the prior year period. At the same time, adjusted EBITDA margin improved 224 basis points in the quarter to 50.13 percent from 47.89 percent in the last year period.
"Compared to the first half of 2016, improved market conditions in the third quarter contributed to increased stability in our business and lower net operating horsepower returns," said Brad Childers, chairman, president and chief executive officer of Archrock Partners' managing general partner.
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: editor@irisindia.net
