Dominion Midstream Partners, LP (DM) has reported a 45.42 percent jump in profit for the quarter ended Dec. 31, 2016. The company has earned $36.50 million in the quarter, compared with $25.10 million for the same period last year.
Revenue during the quarter surged 114.63 percent to $177.50 million from $82.70 million in the previous year period. Gross margin for the quarter contracted 1664 basis points over the previous year period to 81.18 percent. Total expenses were 56.45 percent of quarterly revenues, up from 38.33 percent for the same period last year. That has resulted in a contraction of 1812 basis points in operating margin to 43.55 percent.
Operating income for the quarter was $77.30 million, compared with $51 million in the previous year period.
However, the adjusted EBITDA for the quarter stood at $45.80 million compared with $23.60 million in the prior year period. At the same time, adjusted EBITDA margin contracted 273 basis points in the quarter to 25.80 percent from 28.54 percent in the last year period.
Operating cash flow improves
Dominion Midstream Partners, LP has generated cash of $288.60 million from operating activities during the year, up 18.52 percent or $45.10 million, when compared with the last year.
The company has spent $2,122.80 million cash to meet investing activities during the year as against cash outgo of $1,282.70 million in the last year.
Cash flow from financing activities was $1,838.80 million for the year, up 104.58 percent or $940 million, when compared with the last year.
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