Landmark Infrastructure Partners LP (LMRK) has reported 256.96 percent jump in profit for the quarter ended Dec. 31, 2016. The company has earned $8.79 million in the quarter, compared with $2.46 million for the same period last year.

Revenue during the quarter grew 24.87 percent to $11.81 million from $9.46 million in the previous year period. Gross margin for the quarter contracted 3 basis points over the previous year period to 99.92 percent. Total expenses were 45.99 percent of quarterly revenues, down from 48.83 percent for the same period last year. This has led to an improvement of 284 basis points in operating margin to 54.01 percent.

Operating income for the quarter was $6.38 million, compared with $4.84 million in the previous year period.

However, the adjusted EBITDA for the quarter stood at $10.91 million compared with $8.82 million in the prior year period. At the same time, adjusted EBITDA margin contracted 88 basis points in the quarter to 92.36 percent from 93.25 percent in the last year period.

"Our fourth quarter acquisition activity was highlighted by the Recurrent Energy transaction, which was one of the largest solar land acquisitions in 2016," said Tim Brazy, chief executive officer of the Partnership’s general partner. "For the full year 2016, we acquired 593 assets for total consideration of approximately $292 million. Looking forward, we are excited about our acquisition prospects for 2017 and believe that we are well-positioned to drive future growth for the Partnership."