Miller Industries (MLR) has reported 74.31 percent jump in profit for the quarter ended Sep. 30, 2016. The company has earned $5.52 million, or $0.49 a share in the quarter, compared with $3.17 million, or $0.28 a share for the same period last year. Revenue during the quarter grew 16.95 percent to $147.60 million from $126.20 million in the previous year period. Gross margin for the quarter expanded 146 basis points over the previous year period to 11.60 percent. Total expenses were 94.24 percent of quarterly revenues, down from 95.98 percent for the same period last year. This has led to an improvement of 174 basis points in operating margin to 5.76 percent.
Operating income for the quarter was $8.50 million, compared with $5.08 million in the previous year period.
Jeffrey I. Badgley, Co-chief executive officer of the Company stated, "We had a strong third quarter, which built upon our success in the first half of the year. We added to the momentum in our business, evidenced by strong financial performance and continued progress on our strategic objectives. We maintained our production levels to continue to stay ahead of our healthy customer demand. In doing so, we once again delivered strong revenue and earnings growth."
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