Equity One, Inc. (EQY) has reported 31.26 percent jump in profit for the quarter ended Dec. 31, 2016. The company has earned $17.63 million, or $0.12 a share in the quarter, compared with $13.43 million, or $0.10 a share for the same period last year. Revenue during the quarter grew 4.50 percent to $94.58 million from $90.50 million in the previous year period.
Cost of revenue went up marginally by 0.68 percent or $0.09 million during the quarter to $12.69 million. Gross margin for the quarter expanded 51 basis points over the previous year period to 86.58 percent.
Total expenses were $59.92 million for the quarter, up 6.05 percent or $3.42 million from year-ago period. Operating margin for the quarter contracted 92 basis points over the previous year period to 36.64 percent.
Operating income for the quarter was $34.66 million, compared with $34 million in the previous year period.
Revenue from real estate activities during the quarter increased 4.50 percent or $4.08 million to $94.58 million.
Income from operating leases during the quarter rose 6.68 percent or $4.67 million to $74.50 million. Revenue from tenant reimbursements was $19.77 million for the quarter, down 2.22 percent or $0.45 million from year-ago period.
Income from management fees during the quarter plunged 31.91 percent or $0.14 million to $0.30 million.
Net receivables were at $11.70 million as on Dec. 31, 2016, down 0.92 percent or $0.11 million from year-ago.
Total assets grew 3.52 percent or $118.70 million to $3,494.60 million on Dec. 31, 2016. On the other hand, total liabilities were at $1,654.32 million as on Dec. 31, 2016, up 3.02 percent or $48.57 million from year-ago.
Return on assets moved down 2 basis points to 0.84 percent in the quarter. At the same time, return on equity moved up 20 basis points to 0.96 percent in the quarter.
Debt moves up marginally
Total debt was at $1,415.64 million as on Dec. 31, 2016, up 3.58 percent or $48.92 million from year-ago. Shareholders equity stood at $1,840.29 million as on Dec. 31, 2016, up 3.96 percent or $70.14 million from year-ago. As a result, debt to equity ratio was almost stable at 0.77 percent in the quarter, when compared with the last year period.
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