QTS Realty Trust, Inc (QTS) has reported a 4.41 percent rise in profit for the quarter ended Dec. 31, 2016. The company has earned $4.81 million, or $0.10 a share in the quarter, compared with $4.60 million, or $0.11 a share for the same period last year.
Revenue during the quarter grew 13.76 percent to $105.44 million from $92.69 million in the previous year period.
Cost of revenue rose 14.25 percent or $4.78 million during the quarter to $38.29 million. Gross margin for the quarter contracted 16 basis points over the previous year period to 63.69 percent.
Total expenses were $94.35 million for the quarter, up 10.42 percent or $8.90 million from year-ago period. Operating margin for the quarter expanded 271 basis points over the previous year period to 10.52 percent.
Operating income for the quarter was $11.09 million, compared with $7.24 million in the previous year period. However, the adjusted EBITDA for the quarter stood at $48.40 million compared with $41.05 million in the prior year period. At the same time, adjusted EBITDA margin improved 162 basis points in the quarter to 45.91 percent from 44.28 percent in the last year period.
Revenue from real estate activities during the quarter increased 22.64 percent or $16.17 million to $87.59 million.
Income from operating leases during the quarter rose 18.69 percent or $12.38 million to $78.62 million. Revenue from tenant reimbursements was $8.96 million for the quarter, up 73.17 percent or $3.79 million from year-ago period.
“We are pleased to end 2016 with a solid fourth quarter and strong momentum heading into 2017. Enterprise demand for hybrid IT solutions is accelerating and our integrated technology services platform positions QTS to be a trusted IT partner to our customers,” said Chad Williams, chairman and chief executive officer of QTS.
Net receivables were at $41.54 million as on Dec. 31, 2016, up 47.13 percent or $13.31 million from year-ago.
Total assets grew 18.72 percent or $328.96 million to $2,086.47 million on Dec. 31, 2016. On the other hand, total liabilities were at $1,133.66 million as on Dec. 31, 2016, up 9.25 percent or $96.02 million from year-ago.
Return on assets moved down 7 basis points to 0.56 percent in the quarter. At the same time, return on equity moved down 14 basis points to 0.50 percent in the quarter.
Debt moves up
Total debt was at $965.83 million as on Dec. 31, 2016, up 12.10 percent or $104.26 million from year-ago. Shareholders equity stood at $952.81 million as on Dec. 31, 2016, up 32.36 percent or $232.94 million from year-ago. As a result, debt to equity ratio went down 18 basis points to 1.01 percent in the quarter.
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