DUPONT FABROS TECHNOLOGY, INC (DFT) has reported 38.45 percent jump in profit for the quarter ended Sep. 30, 2016. The company has earned $35.82 million, or $0.37 a share in the quarter, compared with $25.87 million, or $0.29 a share for the same period last year.

Revenue during the quarter grew 16.46 percent to $134.33 million from $115.34 million in the previous year period.

Cost of revenue dropped 7.35 percent or $0.39 million during the quarter to $4.96 million. Gross margin for the quarter expanded 95 basis points over the previous year period to 96.31 percent.

Total expenses were $77.95 million for the quarter, up 7.72 percent or $5.59 million from year-ago period. Operating margin for the quarter expanded 471 basis points over the previous year period to 41.97 percent.

Operating income for the quarter was $56.38 million, compared with $42.98 million in the previous year period.

The company forecasts diluted earnings per share to be in the range of $0.42 to $0.45 for the fourth-quarter. For financial year 2016, the company forecasts diluted earnings per share to be in the range of $1.64 to $1.67.

Revenue from real estate activities during the quarter increased 16.46 percent or $18.99 million to $134.33 million.

Income from operating leases during the quarter rose 15.43 percent or $11.84 million to $88.61 million. Revenue from tenant reimbursements was $44.38 million for the quarter, up 25.98 percent or $9.15 million from year-ago period.

Revenue from other real estate activities during the quarter was $1.34 million, down 60.01 percent or $2.01 million from year-ago period.

Christopher Eldredge, president and chief executive officer, said, "DFT made significant progress in our two new markets ��" Portland and Toronto ��" by purchasing development sites in Hillsboro, Oregon and the Greater Toronto Area. By starting development in the Toronto market with a shell building in place, we will be able to deliver TOR1 in the third quarter of 2017 ��" significantly faster than if development was from the ground up. This timing will help serve the growing pipeline of prospective customers interested in the Toronto market."

The company has spent $142.28 million cash to meet investing activities during the nine month period as against cash outgo of $174.38 million in the last year period.

The company has spent $25 million cash to carry out financing activities during the nine month period as against cash inflow of $21.22 million in the last year period.

Cash and cash equivalents stood at $61.82 million as on Sep. 30, 2016, down 8.87 percent or $6.02 million from $67.84 million on Sep. 30, 2015.

Receivables increase substantially
Net receivables were at $12.85 million as on Sep. 30, 2016, up 49.36 percent or $4.25 million from year-ago. Accounts payable surged 116.17 percent or $25.02 million to $46.55 million on Sep. 30, 2016.

Total assets went up marginally by 0.55 percent or $16.08 million to $2,964.80 million on Sep. 30, 2016. On the other hand, total liabilities were at $1,402.01 million as on Sep. 30, 2016, up 1.20 percent or $16.59 million from year-ago.

Return on assets moved up 39 basis points to 1.82 percent in the quarter. At the same time, return on equity moved up 123 basis points to 2.87 percent in the quarter.