Exterran Partners L.P. (EXLP) swung to a net loss for the quarter ended Mar. 31, 2017. The company has made a net loss of $4.32 million, or $ 0.07 a share in the quarter, against a net profit of $0.52 million, or $0.01 a share in the last year period. Revenue during the quarter dropped 9.33 percent to $137.30 million from $151.42 million in the previous year period. Gross margin for the quarter contracted 278 basis points over the previous year period to 59.01 percent. Total expenses were 87.17 percent of quarterly revenues, up from 86.66 percent for the same period last year. That has resulted in a contraction of 51 basis points in operating margin to 12.83 percent.
Operating income for the quarter was $17.61 million, compared with $20.19 million in the previous year period.
However, the adjusted EBITDA for the quarter stood at $61.12 million compared with $69.42 million in the prior year period. At the same time, adjusted EBITDA margin contracted 133 basis points in the quarter to 44.51 percent from 45.84 percent in the last year period.
"Archrock Partners' revenue continued to stabilize in the first quarter," said Brad Childers, chairman, president and chief executive officer of Archrock Partners' managing general partner. "During the quarter, industry activity improved considerably, and we captured our highest level of new orders since the fourth quarter of 2014. Relatedly, higher order activity drove an increase in labor and make-ready expense as we prepare to meet higher demand."
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