Revenue during the quarter went up marginally by 1.72 percent to $330.59 million from $324.99 million in the previous year period. Gross margin for the quarter expanded 46 basis points over the previous year period to 67.42 percent. Total expenses were 80.59 percent of quarterly revenues, up from 77.74 percent for the same period last year. That has resulted in a contraction of 285 basis points in operating margin to 19.41 percent.

Operating income for the quarter was $64.16 million, compared with $72.33 million in the previous year period.

"2016 held its share of ups and downs. Thanks to hard work and focus by our employees we closed out the year with our best ever overall safety performance, our highest ever JD Powers customer satisfaction scores, and earnings right in line with expectations,” said Bob Rowe, president and chief executive officer. “We are in the utility business to provide value - value to our investors who provide the capital to build and maintain our critical energy infrastructure; value to our customers and communities whose comfort, safety and security depend on us excelling in our role; and, value to our dedicated employees who make it all happen - 24 hours a day and 7 days a week.”

For financial year 2017, the company forecasts diluted earnings per share to be in the range of $3.30 to $3.50. On an adjusted basis, the company forecasts diluted earnings per share to be in the range of $3.20 to $3.35 for the first-quarter.