Business
Rocky Mountain Dealerships Announces Results for The Initial Twelve Day Period Ended December 31, 2007
CALGARY, March 14 /CNW/ - Rocky Mountain Dealerships Inc. ("Rocky Mountain" or the "Company") is ...
About this update from Roland Mineral Enterprises Corp.
[{"type":"text","content":"\n\n\n\nCALGARY, March 14 /CNW/ - Rocky Mountain Dealerships Inc. ("Rocky\nMountain" or the "Company") is reporting the results of their initial twelve\nday period as a publicly traded Company ending December 31, 2007.\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. The consolidated financial\nstatements of the Company therefore pertain to the aggregate business carried\non by Hammer Equipment Sales Limited and the Hi-Way Service group for the\n12 days ended December 31, 2007.\n\n\nCommenting on the Company's results, Matt Campbell, CEO of Rocky Mountain\nsaid, "We are pleased with the progress that has been made since the\nacquisitions, and we are continuing to focus our attention on the integration\nof the two companies. The 100 day integration project is proceeding as\nplanned."\n\n\nThe Company has reported net earnings and comprehensive income of\n$327,950.\n\n\nSelected consolidated financial information for the twelve day period\n ending December 31, 2007\n Twelve Days Ended December 31, 2007\n-------------------------------------------------------------------------\n\nRevenues $11,947,201\nGross profit $2,116,220\nGross margin 17.7%\nEBITDA $867,973\nEBITDA margin 7.3%\n\n\nThe strength that has been portrayed in the past couple of years in the\nagriculture industry is expected to continue, as a result of the continued\ndemand for cereal crops for both ethanol production and as feed grains to\nsupport the changing diet in the Asian markets. With this continued demand,\nthe farm based commodity prices are expected to continue showing strength over\nthe remainder of 2008 which would be demonstrated in strong farm cash receipts\nfor the year. The continued strength in the commodity prices has brought some\ndifficulties for livestock farms as the input costs have increased, and\nconsequently put a strain on the cash receipts from that segment of the\nfarming economy. An issue that could arise during the 2008 year on the\nagricultural side of the business is a potential shortage of equipment due to\nlengthy lead times from the manufacturers. With the increase in agricultural\nactivity the manufacturers have been forced to lengthen their deli...