Revenue during the quarter dropped 20.23 percent to $222.29 million from $278.68 million in the previous year period. Gross margin for the quarter contracted 36 basis points over the previous year period to 27.24 percent. Operating margin for the quarter period stood at positive 3.40 percent as compared to a negative 1.58 percent for the previous year period.

Operating income for the quarter was $7.55 million, compared with an operating loss of $4.40 million in the previous year period.

However, the adjusted EBITDA for the quarter stood at $20.43 million compared with $13.64 million in the prior year period. At the same time, adjusted EBITDA margin improved 430 basis points in the quarter to 9.19 percent from 4.89 percent in the last year period.

David R. Little, chairman and chief executive officer remarked, "We are encouraged by our finish to the fiscal year and DXP's operational execution against the challenging oil & gas and industrial environment. While we fought through difficult market conditions, 2016 was a successful year as we were able to improve our balance sheet and position DXP in a volatile period in our history. We maintained a collective focus while advancing and positioning DXP for long-term growth. DXP’s fourth quarter results indicate we have bottomed and full year 2016 results were in line with our expectations after we adjusted during the first half of the year. We are also encouraged by the general increased optimism about the macroeconomic environment. Our efforts to win business, serve our customers, reduce costs and improve efficiencies through the past two years are driving performance. We are grateful for the continued hard work and dedication of all our “DXPeople".