Revenue during the quarter dropped 9.57 percent to $66.10 million from $73.09 million in the previous year period. Gross margin for the quarter expanded 20 basis points over the previous year period to 89.78 percent. Operating margin for the quarter stood at negative 36.52 percent as compared to a negative 13.07 percent for the previous year period.

Operating loss for the quarter was $24.14 million, compared with an operating loss of $9.55 million in the previous year period.

Jim Moroney, chairman, president and Chief Executive Officer, said, “I am proud of what we accomplished in 2016, especially in how we continued to diversify our sources of revenue to make us less dependent on print related revenues. DMV, which we acquired in January 2015, grew its revenue by 86.6 percent, or $7.8 million, in 2016. In addition, Speakeasy, our content marketing agency, which we founded in 2012, grew its revenue by 44.1 percent, or $2.1 million. Led by these two companies, our total digital and marketing services revenue, which includes digital advertising revenue in the Company’s publishing segment, grew by 20.0 percent to $51.0 million and now represents 33.9 percent of our total advertising and marketing services revenue, a 680 basis point improvement over 27.1 percent, where it stood at the end of 2015. These accomplishments validate our strategy that through leveraging the trust in our brand and the relationships with our legacy customers, and by providing them with ROI-based marketing solutions, we can earn larger shares of their marketing budgets, help them sell more of their goods and services and accelerate the growth of companies we acquire, or build organically.