Landmark Infrastructure Partners LP (LMRK) swung to a net profit for the quarter ended Sep. 30, 2016. The company has made a net profit of $0.35 million, or $ 0.06 a share in the quarter, against a net loss of $0.35 million, or $0.01 a share in the last year period. Revenue during the quarter grew 15.25 percent to $10.38 million from $9.01 million in the previous year period.
Total expenses were $5.79 million for the quarter, up 42.07 percent or $1.72 million from year-ago period. Operating margin for the quarter contracted 1053 basis points over the previous year period to 44.21 percent.
Operating income for the quarter was $4.59 million, compared with $4.93 million in the previous year period. However, the adjusted EBITDA for the quarter stood at $9.72 million compared with $8.16 million in the prior year period. At the same time, adjusted EBITDA margin improved 303 basis points in the quarter to 93.62 percent from 90.59 percent in the last year period.
Revenue from real estate activities during the quarter increased 13.91 percent or $1.22 million to $10.03 million.
Income from operating leases during the quarter rose 13.91 percent or $1.22 million to $10.03 million.
"We are very pleased with this quarters financial and operating performance," said Tim Brazy, chief executive officer of the Partnerships general partner. "Activity at our sponsor continues to be strong and direct acquisition opportunities, such as the recently completed Recurrent transaction, also help drive further growth for the Partnership. In addition, the capital raised from our recent Series B preferred and common unit offerings provides us with further financial flexibility in the near-term to seek additional accretive acquisitions."
Net receivables were at $18 million as on Sep. 30, 2016, up 99 percent or $8.96 million from year-ago.
Total assets jumped 64.72 percent or $200.68 million to $510.72 million on Sep. 30, 2016. On the other hand, total liabilities were at $317.39 million as on Sep. 30, 2016, up 75.76 percent or $136.81 million from year-ago.
Return on assets moved down 33 basis points to 0.07 percent in the quarter. At the same time, return on equity was at 0.18 percent in the quarter.
Debt increases substantially
Total debt was at $291.54 million as on Sep. 30, 2016, up 77.23 percent or $127.04 million from year-ago. Shareholders equity was at $193.33 million as on Sep. 30, 2016. Meanwhile, debt to equity ratio was at 1.51 percent in the quarter.
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