Zoetis Inc. (ZTS) has reported 600 percent jump in profit for the quarter ended Dec. 31, 2016. The company has earned $154 million, or $0.31 a share in the quarter, compared with $22 million, or $0.04 a share for the same period last year. On the other hand, adjusted net income for the quarter stood at $232 million, or $0.47 a share compared with $214 million or $0.43 a share, a year ago.

Revenue during the quarter went up marginally by 0.24 percent to $1,277 million from $1,274 million in the previous year period. Gross margin for the quarter expanded 228 basis points over the previous year period to 63.35 percent. Total expenses were 76.59 percent of quarterly revenues, down from 85.24 percent for the same period last year. This has led to an improvement of 866 basis points in operating margin to 23.41 percent.

"In 2016 we delivered our fourth consecutive year of operational revenue growth and improved profitability since becoming a public company," said Juan Ramón Alaix, chief executive officer of Zoetis. "Our 5% operational growth for the year was driven by the successful launch of several new products and the strength of our diverse portfolio. We also completed significant initiatives to shape our business for greater efficiency and cash generation, which helped us deliver 17% operational growth in adjusted net income and make investments that will sustain our future growth, innovation and market leadership."

For fiscal year 2017, Zoetis projects revenue to be in the range of $5,100 million to $5,225 million. The company expects net income to be in the range of $1,030 million to $1,090 million. The company forecasts adjusted net income to be in the range of $1,120 million to $1,170 million. The company forecasts diluted earnings per share to be in the range of $2.08 to $2.20. The company forecasts diluted earnings per share to be in the range of $2.26 to $2.36 on adjusted basis.