Business
Rocky Mountain Dealerships Inc. announces record third quarter results
Achieves strong results in all key operating metrics; EBITDA * increase of 58.3% C...
About this update from Roland Mineral Enterprises Corp.
[{"type":"text","content":"\n\n\n\n\n\nAchieves strong results in all key operating metrics; EBITDA* increase of 58.3%\n\n\nCALGARY, Nov. 10, 2011 /CNW/ - Rocky Mountain Dealerships Inc. (TSX:RME) today reported financial results for the three and nine months ended\n September 30, 2011.\n\n\nThird Quarter Highlights: \n\n\nIncreased revenues by 25.5% to $213.9 million as compared to the same\n period in 2010.\n\n\nIncreased gross profit as a percentage of sales to 16.5% from 15.3% in\n 2010.\n\n\nGenerated Normalized Diluted Earnings per Share* of $0.35.\n\n\nEBITDA* increased by 58.3% to $12.0 million.\n\n\nCash flow from Net Earnings* of $12.0 million, up from $5.9 million in 2010.\n\n\n \n\n\n \n\n\n \n\n\n \n\n\n* Non-IFRS measurements are defined and discussed further in the\n Management's Discussion and Analysis for the three and nine month\n periods ended September 30, 2011, which can be found at www.sedar.com.\n\n\"Favorable commodity prices and harvesting conditions in Western Canada\n coupled with growth from our acquisitions helped drive stronger sales,\n which, in turn, improved our earnings over the prior year,\" said Rocky\n CEO Matt Campbell.  \"Our people worked hard to provide the equipment,\n parts and service that our customers needed in this period.  Our\n company-wide commitment to being a reliable partner for our customers\n is the largest factor in this success.\"\n\n\n\"Although we have seen some positive signs from our Manitoba stores, the\n Manitoba region is still recovering from the flooding and wet weather\n that has impacted much of the province over the past two years.\"\n\n\n\"Construction market deliveries on a rolling 12 month basis have\n continued to improve.  Manufacturer delivery delays did result in\n somewhat slowed growth for the third quarter, but at current production\n and demand levels, our short and mid-term outlooks for the construction\n market continue to be positive.\"\n\n\n\"Our focus during the quarter continued to be driving company efficiency\n and consistency throughout our large network.  Stronger sales\n performance from our legacy stores combined with our deliberate pause\n in acquisitions, added strength to our balance sheet, including the net\n addition of $9.2 million of cash in the quarter.\"\n\n\nQuarterly Cash Dividend\n\n\nOn November 9, 2011, Rocky's ...