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

About this update from Roland Mineral Enterprises Corp.

[{"type":"text","content":"\n\n\nCALGARY, Nov. 12, 2013 /CNW/ - Rocky Mountain Dealerships Inc.\n (hereinafter \"Rocky\") today reported its financial results for the quarter ended September\n 30, 2013.\n\n\nSUMMARY OF FINANCIAL RESULTS FOR THE QUARTER ENDED SEPTEMBER 30, 2013\n\n\n\nIncreased revenues by 10.1% to $272.6 million ($14.0 million from same\n store sales).\n\n\nEquipment inventory decreased by $78.0 million.\n\n\nGenerated $20.1 million in cash resulting in an all-time high cash\n balance of $42.6 million.\n\n\nGross profit of $38.7 million (14.2% of sales).\n\n\nDiluted Earnings per Share of $0.31.\n\n\nEBITDA(1) of $10.3 million.\n\n\nPaid dividend of $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, \"Our continued focus on moving our used equipment inventory\n enabled Rocky to increase top line revenues both organically and\n through acquisitions despite continued challenges on the construction\n side.  While these initiatives and the resulting sales mix have\n resulted in thinner margins for the quarter, they enabled us to draw\n down our overall equipment inventory levels by $78.0 million during the\n quarter, back in line with this time last year.\n\n\n\"A late spring thaw postponed seeding activity, getting the 2013 growing\n season off to a late start.  Warm temperatures throughout the third\n quarter, however, provided excellent growing conditions across the\n Canadian Prairies.  Despite the late start and a drawn-out, challenging\n harvest, 2013 yields exceeded typical levels and the overall quality of\n the crop is good. \n\n\n\"On the construction side, new equipment sales continued to fall short\n of our expectations and were the primary cause of decreased earnings\n over the third quarter of last year. Through investment in our\n management and sales functions, we expect to see an increase in\n delivered units to correspond with market opportunity over the coming\n year.\n\n\n\"The underlying business fundamentals of Rocky remain strong. We have\n exclusive distribution rights, with significant barriers to entry, for\n some of the world's leading equipment brands.  Our installed base and\n customer relationships create an annuity...

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