Revenue during the quarter grew 26.50 percent to $46.42 million from $36.70 million in the previous year period. Gross margin for the quarter expanded 1106 basis points over the previous year period to 19.56 percent. Operating margin for the quarter stood at negative 3.13 percent as compared to a negative 95.56 percent for the previous year period.

Operating loss for the quarter was $1.45 million, compared with an operating loss of $35.07 million in the previous year period.

However, the adjusted EBITDA for the quarter stood at $4.50 million compared with $1.90 million in the prior year period. At the same time, adjusted EBITDA margin improved 452 basis points in the quarter to 9.69 percent from 5.18 percent in the last year period.

Rick Boone, president and chief executive officer of Rhino's general partner, stated, "The recent equity transaction with Royal Energy Resources, Inc. (OTCQB:ROYE) ("Royal") and Yorktown Partners LLC further reduced our debt and positioned Rhino as a financially strong competitor in the world-wide coal markets. We have been able to reduce our debt by approximately $34 million during the current year as our focus on cash generation and strategic transactions with supportive partners have resulted in a strong balance sheet for Rhino. We have met the requirements to extend the maturity of our credit agreement to December 2017 and we continue to work toward extending or restructuring our credit agreement beyond its current maturity date."

Debt comes down significantly
Rhino Resource Partners LP has recorded a decline in total debt over the last one year. It stood at $10.04 million as on Dec. 31, 2016, down 77.22 percent or $34.03 million from $44.07 million on Dec. 31, 2015. Total debt was 3.62 percent of total assets as on Dec. 31, 2016, compared with 10.89 percent on Dec. 31, 2015.