Rocky Mountain Dealerships Inc. (TSX:RME, OTCQX:RCKXF) announces second quarter 2013 results

About this update from Roland Mineral Enterprises Corp.

[{"type":"text","content":"\n\n\nCALGARY, Aug. 12, 2013 /CNW/ - Rocky Mountain Dealerships Inc.\n (hereinafter \"Rocky\") today reported its financial results for the quarter ended June 30,\n 2013.\n\n\nHIGHLIGHTS FOR THE QUARTER ENDED JUNE 30, 2013\n\n\n\nIncreased revenues by 5.5% to $238.1 million\n\n\nGross profit increased by 5.0% to $35.9 million (15.1% of sales)\n\n\nNormalized Diluted Earnings Per Share(1) of $0.22\n\n\nGenerated Cash Flow from Net Earnings(1) of $5.6 million\n\n\nEBITDA(1) of $8.6 million\n\n\nIncreased quarterly dividend by 48.1% to $0.10 per share\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\nCommenting on the quarterly results, Matt Campbell, CEO of Rocky,\n stated, \"Rocky delivered growth in both revenue and gross profit while\n retaining relatively consistent earnings on a normalized basis versus\n last year.  This despite weather related challenges and a disappointing\n performance from our construction stores.\n\n\n\"A late spring abbreviated the 2013 seeding window. The flooding in late\n June caused little damage to crops, but was enough to create some\n apprehension amongst some of our customers.  Weather conditions\n notwithstanding, the crops across the Canadian Prairies are maturing\n well and although commodity prices have softened as of late, they\n remain healthy and should contribute to strong crop receipts.\n\n\n\"Despite softer sales during the quarter, we achieved a $28 million\n sequential decrease in our inventory levels.  This remains an area of\n focus for Rocky going forward, and we expect this trend to continue\n throughout the balance of the year.\n\n\n\"The underlying business fundamentals of Rocky remain strong. We have\n exclusive distribution rights for some of the world's leading equipment\n brands in a vibrant agriculture and construction market.  Our installed\n base and customer relationships create an annuity of equipment sales\n and product support revenue, which help drive dependable earnings and\n cash flow. It is these strong fundamentals that continue to provide\n stability in our results and value to our shareholders.\"\n\n\nAppointment of Lead Director\n\n\nRocky also announced today that it has appointed Paul Walters as its\n Lead Director.  Commenting on this appointment, M...

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