Revenue during the quarter surged 233.85 percent to $16.74 million from $5.01 million in the previous year period.

Operating income for the quarter was $6.05 million, compared with an operating loss of $5.42 million in the previous year period.

However, the adjusted EBITDA for the quarter stood at $7.53 million compared to negative $3.35 million in the prior year second quarter. At the same time, adjusted EBITDA margin stood at 44.98 percent for the quarter compared to negative 66.85 percent in the last year period.

Michael F. Szymanski, chief executive officer, said "In 2016, we produced strong investment performance for our clients across our Securitized Credit, Leveraged Finance, and Credit Trading products and platforms. Our fourth quarter results, while positive, reflect one material non-recurring item, our receipt of an $8.0 million termination fee as a result of the termination of our investment management agreement with ZFC REIT in connection with the merger of ZFC REIT with Sutherland Asset Management Corp. ("SAM"). We believe that we are making progress with our fund raising activities as a result of our investment in business development staffing and our strong investment performance. Our return to sustained profitability remains challenging and will depend on our success in attracting and retaining assets under management."

Debt increases substantially
ZAIS Group Holdings has witnessed an increase in total debt over the last one year. It stood at $386.16 million as on Dec. 31, 2016, up 30,670.04 percent or $384.91 million from $1.26 million on Dec. 31, 2015. Long-term debt stood at $384.90 million as on Dec. 31, 2016. Total debt was 75.11 percent of total assets as on Dec. 31, 2016, compared with 1.35 percent on Dec. 31, 2015. Debt to equity ratio was at 4.29 as on Dec. 31, 2016, up from 0.01 as on Dec. 31, 2015.