Shenandoah Telecommunications Company (SHEN) swung to a net loss for the quarter ended Dec. 31, 2016. The company has made a net loss of $0.18 million in the quarter, against a net profit of $12.11 million in the last year period.

Revenue during the quarter surged 78.23 percent to $155.57 million from $87.28 million in the previous year period. Gross margin for the quarter contracted 5 basis points over the previous year period to 65.83 percent. Total expenses were 92.17 percent of quarterly revenues, up from 75.11 percent for the same period last year. That has resulted in a contraction of 1705 basis points in operating margin to 7.83 percent.

Operating income for the quarter was $12.19 million, compared with $21.72 million in the previous year period.

President and chief executive officer Christopher E. French commented, "We are very pleased with our growth in the fourth quarter, which occurred across all of our segments, and was demonstrated by improved revenue and enhanced Adjusted OIBDA. During the fourth quarter, we continued our integration of both the customers and assets we gained with our acquisition of nTelos, and we are ahead of schedule in terms of both customer migration and the streamlining of operations. Likewise, we have made significant progress with our network upgrade and, despite the temporary impact to churn caused by the upgrade process in our acquired markets, we have continued to add customers as the upgrade process moves forward. Our legacy market areas enjoy an excellent Port In/Port Out ratio which reflects the superior customer experience we expect to provide throughout our expanded footprint."