Revenue during the quarter plunged 35.10 percent to $82.16 million from $126.58 million in the previous year period.

Cost of revenue plunged 42.50 percent or $19.55 million during the quarter to $26.45 million. Gross margin for the quarter expanded 414 basis points over the previous year period to 67.81 percent.

Total expenses were $66.28 million for the quarter, down 34.92 percent or $35.57 million from year-ago period.

However, the adjusted EBITDA for the quarter stood at $49.26 million compared with $73.12 million in the prior year period. At the same time, adjusted EBITDA margin improved 220 basis points in the quarter to 59.96 percent from 57.76 percent in the last year period.

For financial year 2017, Columbia Property Trust, Inc. forecasts diluted earnings per share to be in the range of $0.78 to $0.85.

Revenue from real estate activities during the quarter plunged 33.71 percent or $41.10 million to $80.82 million.

Income from operating leases during the quarter dropped 28.53 percent or $28.41 million to $71.17 million. Revenue from tenant reimbursements was $8.58 million for the quarter, down 56.54 percent or $11.17 million from year-ago period.

Revenue from other real estate activities during the quarter was $1.06 million, down 58.87 percent or $1.52 million from year-ago period.

Net receivables were at $5.29 million as on Mar. 31, 2017, down 54.91 percent or $6.44 million from year-ago.

Total assets declined 9.59 percent or $444.34 million to $4,190.45 million on Mar. 31, 2017. On the other hand, total liabilities were at $1,636.58 million as on Mar. 31, 2017, down 21.34 percent or $443.99 million from year-ago.

Return on assets moved down 13 basis points to 0.44 percent in the quarter. At the same time, return on equity moved up 266 basis points to 2.93 percent in the quarter.

Shareholders equity was almost stable over the past one year at $2,553.87 million on Mar. 31, 2017. As a result, debt to equity ratio went down 23 basis points to 0.52 percent in the quarter.