Revenue during the quarter dropped 4.65 percent to $43.88 million from $46.02 million in the previous year period. Gross margin for the quarter contracted 279 basis points over the previous year period to 23.07 percent. Operating margin for the quarter stood at negative 38.29 percent as compared to a positive 7.45 percent for the previous year period.

Operating loss for the quarter was $16.80 million, compared with an operating income of $3.43 million in the previous year period.

However, the adjusted EBITDA for the quarter stood at $14.10 million compared with $17.08 million in the prior year period. At the same time, adjusted EBITDA margin contracted 498 basis points in the quarter to 32.14 percent from 37.12 percent in the last year period.

"We delivered solid 2016 results and were able to make strategic investments in our asphalt terminalling services business segment further strengthening our presence as a terminal-centric, infrastructure-focused company that can provide bulk storage, transportation and terminalling services throughout the United States. This capability was enhanced by the Ergon transaction that was completed in October of 2016, whereby Ergon, a Jackson, Mississippi based private company, purchased our General Partner and sold nine asphalt product terminals to us. We own the largest network of independently-owned asphalt terminals and have a partner that is a leader in developing and marketing technologies and products for road construction and preservation in addition to numerous other logistics, refining and other energy and infrastructure-related businesses. We are incredibly excited about this partnership and believe it will lead to other growth projects in addition to the previously mentioned anticipated asphalt terminal drop downs in mid-2017 and 2018." Comments from BKEP chief executive officer Mark Hurley