FRP Holdings, Inc (FRPH) has reported 77.49 percent plunge in profit for the quarter ended Dec. 31, 2016. The company has earned $1.68 million, or $0.17 a share in the quarter, compared with $7.47 million, or $0.76 a share for the same period last year.

Revenue during the quarter grew 7.81 percent to $9.51 million from $8.82 million in the previous year period.

Cost of revenue went up marginally by 2.76 percent or $0.06 million during the quarter to $2.42 million. Gross margin for the quarter expanded 125 basis points over the previous year period to 74.57 percent.

Total expenses were $5.51 million for the quarter, up 147.77 percent or $3.28 million from year-ago period. Operating margin for the quarter contracted 3271 basis points over the previous year period to 42.09 percent.

Operating income for the quarter was $4 million, compared with $6.60 million in the previous year period. However, the adjusted operating income for the quarter stood at $4 million compared to $3.60 million in the prior year period. At the same time, adjusted operating margin improved 129 basis points in the quarter to 42.09 percent from 40.80 percent in the last year period.

Revenue from real estate activities during the quarter increased 6.54 percent or $0.47 million to $7.66 million.

Income from operating leases during the quarter rose 4.99 percent or $0.30 million to $6.33 million. Revenue from tenant reimbursements was $1.33 million for the quarter, up 14.59 percent or $0.17 million from year-ago period.