Business

ROCKY MOUNTAIN DEALERSHIPS INC (TSX:RME) ANNOUNCES STRONG FIRST QUARTER RESULTS, ANNOUNCES ORGANIZATIONAL CHANGES

May 10, 2011 (Canada NewsWire Group) -- Issued: 18,708,400 shares CALGARY, May 10 /CNW/ -...

articleRoland Mineral Enterprises Corp.May 10, 20114/company/roland-mineral-enterprises-corp/news/rocky-mountain-dealerships-inc-tsxrme-announces-strong-first-quarter-results-announces-organizational-changes
ROCKY MOUNTAIN DEALERSHIPS INC (TSX:RME) ANNOUNCES STRONG FIRST QUARTER RESULTS, ANNOUNCES ORGANIZATIONAL CHANGES

About this update from Roland Mineral Enterprises Corp.

[{"type":"text","content":"\n\n\n May 10, 2011 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\nIssued: 18,708,400 shares\n\n\nCALGARY, May 10 /CNW/ - Rocky Mountain Dealerships Inc. ("Rocky" or the\n "Company") today reported financial results for the three months ended\n March 31 ("Q1"), 2011.\n\n\n\nRevenue increased 31% to $157.6 million from $120.5 million in Q1 2010\n\n\nNet earnings increased 52% from $1.8 million to $2.7 million compared\n with Q1 2010\n\n\nSame-store revenue growth of $5.1 million in addition to $31.9 million\n of acquired growth\n\n\nGross profit margin increase from 16.0% of total revenue in Q1 2010 to\n 16.3% in 2011\n\n\nDiluted earnings per share increased to $0.14 per share from $0.10 per\n share in Q1 2010\n\n\nEBITDA increase of 45% from Q1 2010 to $7.1 million\n\n\n\nCommenting on the first quarter, Matthew Campbell, Rocky's Executive\n Chairman of the Board, said, "2011 has started off strong for Rocky due\n to increases in new equipment sales, used equipment sales and product\n support sales in the quarter. New equipment deliveries increased in\n both construction and agriculture. While product support was strong at\n our construction locations, confidence in the Alberta market was\n somewhat offset by lingering issues with snow pack and flooding in\n Manitoba. Our diverse geographic footprint helped us substantially\n increase our earnings in the quarter in spite of inclement weather."\n\n\nMr. Campbell continued, "The late spri...

More updates from Roland Mineral Enterprises Corp.