Landmark Infrastructure Partners LP (LMRK) has reported 2,315.75 percent jump in profit for the quarter ended Mar. 31, 2017. The company has earned $3.53 million, or $0.09 a share in the quarter, compared with $0.15 million, or $0.03 a share for the same period last year. Revenue during the quarter grew 21.74 percent to $12.20 million from $10.02 million in the previous year period. Gross margin for the quarter contracted 66 basis points over the previous year period to 99.29 percent. Total expenses were 43.72 percent of quarterly revenues, up from 37.71 percent for the same period last year. That has resulted in a contraction of 601 basis points in operating margin to 56.28 percent.
However, the adjusted EBITDA for the quarter stood at $11.24 million compared with $9.26 million in the prior year period. At the same time, adjusted EBITDA margin contracted 25 basis points in the quarter to 92.11 percent from 92.37 percent in the last year period.
"We are pleased with first quarter results and remain focused on achieving our operational and financial goals for 2017,” said Tim Brazy, chief executive officer of the Partnerships general partner. "We are excited about the numerous initiatives at the sponsor and Partnership level, which we believe will ultimately create unitholder value and drive future growth at LMRK."
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