Revenue during the quarter grew 7.61 percent to $31.75 million from $29.51 million in the previous year period. Total expenses were 86.11 percent of quarterly revenues, down from 86.21 percent for the same period last year. This has led to an improvement of 9 basis points in operating margin to 13.89 percent.

Operating income for the quarter was $4.41 million, compared with $4.07 million in the previous year period.

President and Chief Executive Officer John H. Sottile said, "We are proud of our accomplishments in 2016, as revenue grew 8.2% and earnings per share improved 183% over 2015. In 2016, we also realized our fifth consecutive year of record revenues. We believe that the strategies which helped us achieve these milestones will continue to serve us well. Additionally, over the past five years our revenue has grown nearly 300 percent while earnings improved from $0.03 per share to $0.51 per share.

Working capital increases sharply
The Goldfield Corporation  has recorded an increase in the working capital over the last year. It stood at $32.99 million as at Dec. 31, 2016, up 29.40 percent or $7.50 million from $25.50 million on Dec. 31, 2015. Current ratio was at 2.79 as on Dec. 31, 2016, up from 2.52 on Dec. 31, 2015.

Debt comes down 
The Goldfield Corporation  has recorded a decline in total debt over the last one year. It stood at $22.33 million as on Dec. 31, 2016, down 15.63 percent or $4.14 million from $26.47 million on Dec. 31, 2015. Total debt was 24.46 percent of total assets as on Dec. 31, 2016, compared with 32.62 percent on Dec. 31, 2015. Debt to equity ratio was at 0.46 as on Dec. 31, 2016, down from 0.75 as on Dec. 31, 2015. Interest coverage ratio improved to 32.94 for the quarter from 25.74 for the same period last year.