Business
Rocky Mountain Dealerships Inc. (TSX:RME, OTCQX:RCKXF) Announces Annual and Fourth Quarter 2012 Results
Record earnings per share highlight strong fourth quarter and annual results CALGARY, M...
About this update from Roland Mineral Enterprises Corp.
[{"type":"text","content":"\n\n\n\n\n\nRecord earnings per share highlight strong fourth quarter and annual\n results\n\n\nCALGARY, March 11, 2013 /CNW/ - Rocky Mountain Dealerships Inc.\n (hereinafter \"Rocky\") today reported its financial results for the three and twelve months\n ended December 31, 2012.\n\n\nHIGHLIGHTS FOR THE QUARTER ENDED DECEMBER 31, 2012:\n\n\n\nIncreased revenues by 25.0% to $300.8 million (17.6% on a same store\n basis)\n\n\nGross profit increased by 24.1% to $45.9 million (15.2% of sales)\n\n\nDiluted Earnings per Share of $0.62, up from $0.42 in 2011\n\n\nEBITDA(1) increased by 27.2% to $18.6 million\n\n\nPaid dividends of $0.0675 per share, an increase of 50% over the prior\n year\n\n\n\nHIGHLIGHTS FOR THE YEAR ENDED DECEMBER 31, 2012:\n\n\n\nIncreased revenues by 20.3% to $966.1 million (16.3% on a same store\n basis)\n\n\nGross profit increased by 17.8% to $147.5 million (15.3% of sales)\n\n\nNormalized Diluted Earnings per Share(1) of $1.46, up from $1.22 in 2011\n\n\nGenerated Cash Flow from Net Earnings(1) of $35.1 million\n\n\nNormalized EBITDA(1) increased by 4.7% to $46.5 million\n\n\nPaid dividends of $0.2475 per share after announcing a 50% dividend\n increase in Q1\n\n\nRepurchased all convertible debentures reducing interest exposure and\n shareholder dilution\n\n\nAcquired and integrated four agriculture equipment dealerships in\n Alberta\n\n\n\n(1) See further discussion in \"Non-IFRS Measures\" and \"Reconciliation of\n Non-IFRS Measures to IFRS\" sections below.\n\n\nMatt Campbell, CEO of Rocky, noted \"2012 saw us undertake a number of\n initiatives aimed at enhancing shareholder value.  We were able to\n repurchase our convertible debentures, resulting in considerable\n interest savings, as well as eliminating the dilutive effect the\n debentures created.  We increased our dividend by 50% in 2012.  We\n re-branded our entire dealership network, unifying it under the name\n \"Rocky Mountain Equipment\", and are working towards leveraging the\n benefits a single, strong brand can provide.\n\n\n\"In addition to those initiatives, our customers enjoyed favorable\n growing conditions across the network, strong commodity prices, and\n generally positive economic conditions in all industries that we\n service.  Consistent with our stated objective, Rocky continued to grow\n its footprint, market...