Stratus Properties (STRS) swung to a net loss for the year ended Dec. 31, 2016. The company has made a net loss of $6 million, or $ 0.74 a share in the year, against a net profit of $12.18 million, or $1.51 a share in the last year.

Revenue during the year went down marginally by 0.66 percent to $80.34 million from $80.87 million in the previous year.

Cost of revenue went down marginally by 1.20 percent or $0.81 million during the year to $67 million. Gross margin for the year expanded 46 basis points over the previous year to 16.61 percent.

Total expenses were $79.16 million for the year, up 43.57 percent or $24.02 million from year-ago. Operating margin for the year contracted 3035 basis points over the previous year to 1.47 percent.

Operating income for the year was $1.18 million, compared with $25.73 million in the previous year.

Revenue from real estate activities during the year went up marginally by 2.42 percent or $0.48 million to $20.40 million. Revenue from sale of real estate was $10.72 million for the year, down 24.92 percent or $3.56 million from year-ago period.

Income from operating leases during the year surged 71.64 percent or $4.04 million to $9.68 million.

Other income during the year was almost stable at $19.52 million, when compared with the previous year.

William H. Armstrong III, Chairman of the Board, president and chief executive officer of Stratus, stated, "Our achievements during 2016 and early 2017 continue to evidence value creation and the strength of our company’s strategy, with our recent sale of The Oaks at Lakeway and our progress on development and leasing across many fronts. Our first phase of Santal was built within budget and is almost 90 percent leased, increasing our commercial leasing revenue in 2016, with the second phase scheduled to commence in the second quarter. Our HEB grocery-anchored retail developments in Killeen and Magnolia are progressing according to schedule, construction of the first 5 of 20 homes in our Amarra Villas project in Barton Creek is almost complete, and we expect to begin construction on our Lantana Place mixed-use development project in the second quarter of 2017. With our active development pipeline, our team is highly focused on enhancing the value of our properties in a cost-effective manner."

The company has spent $28.25 million cash to meet investing activities during the year as against cash outgo of $12.59 million in the last year.

Cash flow from financing activities was $28.53 million for the year, up 1,510.84 percent or $26.76 million, when compared with the last year.

Cash and cash equivalents stood at $13.60 million as on Dec. 31, 2016, down 20.19 percent or $3.44 million from $17.04 million on Dec. 31, 2015.

Real estate inventory fell 18.15 percent or $4.71 million to $21.24 million on Dec. 31, 2016. Accounts payable plunged 52.52 percent or $7.45 million to $6.73 million on Dec. 31, 2016.

Investments stood at $239.72 million as on Dec. 31, 2016, up 28.45 percent or $53.09 million from year-ago.

Total assets grew 4.52 percent or $19.55 million to $452.18 million on Dec. 31, 2016. On the other hand, total liabilities were at $321.15 million as on Dec. 31, 2016, up 8.51 percent or $25.20 million from year-ago.

Return on assets moved down 351 basis points to 0.75 percent in the year. Return on equity was negative at 4.58 percent in the year against a positive 8.91 percent in the last year.