Revenue during the quarter dropped 8.46 percent to $280.70 million from $306.63 million in the previous year period. Gross margin for the quarter expanded 674 basis points over the previous year period to 34.11 percent. Operating margin for the quarter period stood at positive 7.28 percent as compared to a negative 8.46 percent for the previous year period.

Operating income for the quarter was $20.44 million, compared with an operating loss of $25.95 million in the previous year period.

However, the adjusted EBITDA for the quarter stood at $51.34 million compared with $38.01 million in the prior year period. At the same time, adjusted EBITDA margin improved 589 basis points in the quarter to 18.29 percent from 12.40 percent in the last year period.

Andrew Way, Exterran's president and chief executive officer commented, "First quarter results from our core segments exceeded expectations due to continued productivity in our contract operations business and improved oil and gas product sales gross margins resulting from increased volumes. Bookings for oil and gas products were $249 million, the highest since the fourth quarter of 2014. It also marked the fourth consecutive quarter of sequentially higher bookings. "Our competitive advantages of designing and delivering in a timely manner midstream solutions critical to natural gas production and processing are enabling us to capitalize on improving market factors, especially in the U.S. where demand for midstream infrastructure continues to increase. The combination of our sequentially improved performance and our continued focus on cash generation allowed us to once again repay debt. This was the fifth consecutive quarter we repaid debt as we remain disciplined and prudently manage cash through the industry cycle."