Miller Industries, Inc. (MLR) has reported a 14.83 percent rise in profit for the quarter ended Dec. 31, 2016. The company has earned $4.45 million, or $0.38 a share in the quarter, compared with $3.88 million, or $0.34 a share for the same period last year.
Revenue during the quarter grew 8.91 percent to $148.59 million from $136.44 million in the previous year period. Gross margin for the quarter contracted 103 basis points over the previous year period to 10.20 percent. Total expenses were 95.19 percent of quarterly revenues, down from 95.52 percent for the same period last year. This has led to an improvement of 33 basis points in operating margin to 4.81 percent.
Jeffrey I. Badgley, co-chief executive officer of the Company stated, "Our 2016 fiscal year was capped off by a strong fourth quarter in which we saw significant progress in our capital projects and consistent revenue expansion. We continue to pace production with demand levels, which remain healthy both internationally and domestically. We are particularly proud of our top and bottom line growth for the fourth quarter and for the full year, even while deploying capital to enhance our business for sustained future success."
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