First Industrial Realty Trust, Inc. (FR) has reported 45.30 percent plunge in profit for the quarter ended Dec. 31, 2016. The company has earned $23.80 million, or $0.20 a share in the quarter, compared with $43.50 million, or $0.39 a share for the same period last year.

Revenue during the quarter grew 5.11 percent to $97.98 million from $93.21 million in the previous year period.

Cost of revenue went up marginally by 1.99 percent or $0.58 million during the quarter to $29.54 million. Gross margin for the quarter expanded 92 basis points over the previous year period to 69.85 percent.

Total expenses were almost stable at $64.92 million, when compared with the previous year period. Operating margin for the quarter expanded 370 basis points over the previous year period to 33.74 percent.

Operating income for the quarter was $33.05 million, compared with $27.99 million in the previous year period.

For fiscal year 2017, the company expects diluted earnings per share to be in the range of $0.49 to $0.59.

"First Industrial produced another excellent year in 2016, driving increased cash flow for our shareholders and further enhancing our portfolio through high quality developments, acquisitions and targeted sales," said Peter E. Baccile, First Industrial's president and chief executive officer. "Our operating metrics reflect the team's excellent execution and the continuing strong fundamentals in our industry. We look to build upon our track record in 2017 and beyond, levering the strengths of our platform."