Transcontinental Realty Investors (TCI) swung to a net profit for the year ended Dec. 31, 2016. The company has made a net profit of $0.04 million, or $ 0.10 a share in the year, against a net loss of $7.64 million, or $0.98 a share in the last year.
Revenue during the year grew 15.90 percent to $118.47 million from $102.22 million in the previous year.
Cost of revenue rose 18.49 percent or $9.66 million during the year to $61.92 million. Gross margin for the year contracted 114 basis points over the previous year to 47.74 percent.
Total expenses were $100.82 million for the year, up 8.51 percent or $7.91 million from year-ago. Operating margin for the year expanded 580 basis points over the previous year to 14.90 percent.
Operating income for the year was $17.65 million, compared with $9.30 million in the previous year.
Revenue from real estate activities during the year increased 15.90 percent or $16.25 million to $118.47 million.
Receivables move upNet receivables were at $180.96 million as on Dec. 31, 2016, up 13.05 percent or $20.89 million from year-ago. Total assets stood at $1,185.91million as on Dec. 31, 2016. On the other hand, total liabilities were at $961.44 million as on Dec. 31, 2016.
Return on assets was at 4.50 percent in the year. Return on equity was negative at 0.38 percent in the year.
Debt moves upTotal debt was at $835.53 million as on Dec. 31, 2016, up 8.14 percent or $62.89 million from year-ago. Shareholders equity was at $224.48 million as on Dec. 31, 2016. Meanwhile, debt to equity ratio was at 3.72 percent in the year.
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