Revenue during the quarter dropped 5.95 percent to $1,113.06 million from $1,183.47 million in the previous year period. Gross margin for the quarter expanded 94 basis points over the previous year period to 9.32 percent. Operating margin for the quarter period stood at positive 0.92 percent as compared to a negative 8.07 percent for the previous year period.

Operating income for the quarter was $10.24 million, compared with an operating loss of $95.52 million in the previous year period.

"While we are disappointed with 2016's overall results, we took several steps throughout the year, and especially during the fourth quarter, to improve future earnings opportunities. We addressed underperforming assets in our portfolio by selling underperforming Grain Group locations, closing a cob processing facility to optimize our supply chain and manufacturing footprint, and recently announcing the closure of our Retail Group," said chief executive officer Pat Bowe. "Moreover, we have already exceeded our initial cost reduction target and identified more than $10 million in run-rate cost savings and other performance improvement opportunities earlier than previously announced. We have implemented many of these reductions and continue to aggressively pursue other opportunities to further streamline our business operations."

Debt comes down marginally
The Andersons, Inc. has recorded a decline in total debt over the last one year. It stood at $473.61 million as on Dec. 31, 2016, down 1.53 percent or $7.37 million from $480.98 million on Dec. 31, 2015. Total debt was 21.21 percent of total assets as on Dec. 31, 2016, compared with 20.39 percent on Dec. 31, 2015. Debt to equity ratio was at 0.60 as on Dec. 31, 2016, down from 0.61 as on Dec. 31, 2015.