Griffin Industrial Realty, Inc. (GRIF) has reported a 716.46 percent jump in profit for the quarter ended Nov. 30, 2016. The company has earned $1.34 million, or $0.26 a share in the quarter, compared with $0.16 million, or $0.03 a share for the same period last year.
Revenue during the quarter surged 38.86 percent to $10.38 million from $7.48 million in the previous year period.
Cost of revenue rose 26.54 percent or $0.57 million during the quarter to $2.73 million. Gross margin for the quarter expanded 256 basis points over the previous year period to 73.73 percent.
Total expenses were $6.92 million for the quarter, up 14.09 percent or $0.85 million from year-ago period. Operating margin for the quarter expanded 1447 basis points over the previous year period to 33.37 percent.
Operating income for the quarter was $3.46 million, compared with $1.41 million in the previous year period.
Revenue from real estate activities during the quarter surged 38.86 percent or $2.91 million to $10.38 million. Revenue from sale of real estate was $3.89 million for the quarter, up 365.43 percent or $3.06 million.
Income from operating leases during the quarter went down marginally by 2.26 percent or $0.15 million to $6.49 million.
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