Revenue during the quarter surged 39.39 percent to $2,516 million from $1,805 million in the previous year period. Gross margin for the quarter contracted 5 basis points over the previous year period to 20.51 percent. Total expenses were 93.72 percent of quarterly revenues, up from 92.80 percent for the same period last year. That has resulted in a contraction of 92 basis points in operating margin to 6.28 percent.

Operating income for the quarter was $158 million, compared with $130 million in the previous year period.

"Following a very complex and rewarding year, our 2016 comparable results were in line with our expectations. We had previously discussed that the momentum in our existing business combined with the addition of our acquisition would generate sequential momentum as we moved into 2017. This momentum continues to build in all of our businesses and our packaging products are excellently positioned to support our customers' plans to market sustainable packaging to all generations for any occasion," said John A. Hayes, chairman, president and chief executive officer. "We once again reaffirm our financial goals for 2017 through 2019 and expect $150 million of transaction-related synergies to be recognized in 2017 with at least another $150 million expected by the end of 2019."

Debt increases substantially
Ball Corporation has witnessed an increase in total debt over the last one year. It stood at $7,532 million as on Dec. 31, 2016, up 49.12 percent or $2,481 million from $5,051 million on Dec. 31, 2015. Total debt was 45.99 percent of total assets as on Dec. 31, 2016, compared with 51.66 percent on Dec. 31, 2015. Debt to equity ratio was at 2.15 as on Dec. 31, 2016, down from 4 as on Dec. 31, 2015. Interest coverage ratio improved to 2.23 for the quarter from 1.94 for the same period last year.