Revenue during the quarter grew 16.95 percent to $56.27 million from $48.11 million in the previous year period. Total expenses were 58.39 percent of quarterly revenues, up from 57.44 percent for the same period last year. That has resulted in a contraction of 95 basis points in operating margin to 41.61 percent.

Operating income for the quarter was $23.41 million, compared with $20.48 million in the previous year period.

However, the adjusted EBITDA for the quarter stood at $27.37 million compared with $24.32 million in the prior year period. At the same time, adjusted EBITDA margin contracted 190 basis points in the quarter to 48.65 percent from 50.55 percent in the last year period.

Adam Portnoy, president and chief executive officer, made the following statement regarding the fourth quarter fiscal 2016 results: "Total revenues grew 17.0% on a quarterly basis and 38.4% on an annual basis compared to last year, which contributed to continued increases in net income and Adjusted EBITDA. Net income was $18.8 million, or $0.46 per share, for the fourth quarter, a 15.0% increase compared to last year, and Adjusted EBITDA was $27.4 million for the fourth quarter. During the quarter, we also closed the acquisition of Tremont Realty Capital, and we expect this business may provide RMR a platform for growth in the commercial real estate finance industry. We continue to maintain a strong balance sheet, with cash and cash equivalents having grown over the past year to $65.8 million and no indebtedness at September 30, 2016. We believe this makes us well positioned to take advantage of possible future growth opportunities."