Business
Rocky Mountain Dealerships announces a 19.3% increase in revenues for the first quarter ending March 31, 2008
CALGARY, May 12 /CNW/ - Rocky Mountain Dealerships Inc. ("Rocky Mountain" or the "Company") is re...
About this update from Roland Mineral Enterprises Corp.
[{"type":"text","content":"\n\n\n\nCALGARY, May 12 /CNW/ - Rocky Mountain Dealerships Inc. ("Rocky Mountain"\nor the "Company") is reporting the results of their initial quarter as a\npublicly traded company ended March 31, 2008.\n\n\nThe Company was formed on September 17, 2007 but did not carry on any\nbusiness until it completed the acquisition of Hammer Equipment Sales Limited\nand the Hi-Way Service group on December 20, 2007.\n\n\nCommenting on the Company's results, Matt Campbell, CEO of Rocky Mountain\nsaid, "we are excited about the top-line organic growth shown in the first\nquarter, traditionally the weakest quarter in our industry. The integration of\nthe two businesses is proceeding as planned, and we are continuing to focus\nour attention on such integration."\n\n\nThe Company has reported $69.7M in revenue for the 1st quarter of 2008,\nan increase in same store growth of 19.3% compared to the same period in 2007.\nGross profit increased from $11.5M to $12.6M in the same period as a result of\nthe increased revenues. Net earnings and comprehensive income were $0.6M.\nEarnings were impacted by amortization expense for intangibles of $0.8M and\nexpenses resulting from the IPO of approximately $0.2M.\n\n\nThese results are compared against Hammer Equipment Sales Limited and the\nHi-Way Service group of companies' aggregated financial statements for the\nfirst quarter calendar of 2007.\n\n\nAbout Rocky Mountain:\n\n\nRocky Mountain represents one of Canada's largest agriculture and\nconstruction equipment dealerships with 13 dealership branches located\nthroughout Alberta. Rocky Mountain sells, rents and leases new and used\nconstruction and agriculture equipment, including the Case Construction and\nCase IH Agriculture brands, as well as offering product support and finance\nand insurance products to its customers.\n\n\nAdditional information on Rocky Mountain is available on our website at\nwww.rockymtn.com and on SEDAR at www.sedar.com. The Common Shares of Rocky\nMountain trade on the Toronto Stock Exchange under the symbol "RME".\n\n\n%SEDAR: 00026106E\n\n\n","length":2175,"tagName":"div"}]