Business
Rocky Mountain Dealerships Inc. (TSX:RME) announces second quarter results for the periods ended June 30, 2010
Rocky Mountain Dealerships Inc. (TSX:RME) announces second quarter results for the periods ended ...
About this update from Roland Mineral Enterprises Corp.
[{"type":"text","content":"\n\n\n\n Aug. 10, 2010 (Canada NewsWire Group) -- \n\n \n \n \nTR.cnwUnderlinedCell TD {\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD {\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD {\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell {\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell {\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell {\n BORDER-BOTTOM: #000000 3px solid\n}\n\n\n >\n\n\nIssued: 18,257,849 shares\n(Stock Symbol "RME" - TSX)\n\nCALGARY, Aug. 10 /CNW/ - Rocky Mountain Dealerships Inc. ("Rocky Mountain" or the "Company"), a leading Canadian network of full service agriculture and construction equipment dealerships, today reported financial results for the three and six month periods ended June 30, 2010.\nFor Q2 2010, net sales were $146.2 million compared to $155.1 million for the same period of 2009. New equipment sales were $82.1 million for the Q2 2010 compared to $90.6 million in the prior year. Used equipment sales were $37.0 million for the Q2 2010, compared to $38.8 million for the same period of 2009 and YTD 2010 $75.1 million compared with $78.0 from the prior year. Revenues generated from product support were $26.0 million in Q2 2010 compared to $24.4 million for the same period of 2009.\nGross profit for Q2 2010 was $23.0 million compared to $21.8 million for the same period of the prior year. The Company's gross profit margin was 15.7% for the three month period of 2010 versus 14.0% for the same period of the prior year.\nSelling, general, and administrative expenses increased to 10.8% of sales in Q2 2010 from 8.6% in the prior year.\nNet income for Q2 2010 decreased to $3.1 million from $3.8 million in Q2 of 2009. The reductions in new and used sales revenue and net income are primarily due to the negative impacts of wet, unfavourable weather conditions experienced throughout the Canadian prairie provinces in Q2. Net income for YTD 2010 increased to $4.9 million from $4.6 million in the same period of 2009.\nThe Company believes earnings before long-term interest, taxes, depreciation and amortization ("EBITDA") is a useful metric to monitor its operating performance. Refer to the appendices for reconciliation of net earnings to EBITDA. For the second quarter of 2010, EBITDA was...