Rocky Mountain Dealerships Inc. (TSX:RME, OTCQX:RCKXF) announces third quarter 2014 results and director appointment

About this update from Roland Mineral Enterprises Corp.

[{"type":"text","content":"\n\nCALGARY, Nov. 12, 2014 /CNW/ - Rocky Mountain Dealerships Inc. (hereinafter \"Rocky\") today reported its financial results for the quarter ended September 30, 2014.\n\nSUMMARY OF FINANCIAL RESULTS FOR THE QUARTER ENDED SEPTEMBER 30, 2014\n\n\nProduct support revenues increased by 6.0% to $45.6 million.   \nTotal revenues decreased by 15.3% to $230.8 million. \nGross profit increased by 1.0% to $39.1 million (16.9% of sales). \nDiluted earnings per share increased by 3.2% to $0.32. \nEBITDA(1) increased by 5.2% to $10.8 million. \nInventory increased by $13.3 million to $535.6 million.\n (1) See further discussion in \"Non-IFRS Measures\" and \"Reconciliation of Non-IFRS Measures to IFRS\" sections below. \n\nDuring the third quarter, Rocky experienced improvement in both gross profit and net earnings over the prior year.  While softening market demand for agriculture whole goods led to a decrease in equipment sales, product support sales increased as farmers invested in the maintenance of their existing fleets.  \n\nCommenting on the quarter, Rocky's CEO Matt Campbell stated, \"As expected, agriculture equipment demand continued to cycle to lower levels.  However, as farm equipment is put to use every year, the softening of equipment purchases were offset by farmers making necessary product support investments in their existing fleets.  Rocky has always placed great emphasis on improving and promoting its product support business, and we believe we are beginning to see the results of those efforts.  We improved net income results on a relatively stable base of total service work.  This was achieved through the combination of improved operational process, a shift to a higher proportion of customer work, and more focused marketing efforts.  While improvements in our product support activities do not fully offset declines in equipment revenues, their increased profitability will act as a stabilizing influence on our gross margins, as evidenced by the increase in gross profit and net income for the quarter.\n\n\"We have always focused on operating our business in a conservative and prudent manner.  That focus has enabled us to maintain our cost structure and generate improved earnings and EBITDA despite the decline in top-line revenue.\n\n\"We continue to closely monitor ou...

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