Dealer News Update

Rocky Mountain Dealerships Inc. reported financial results for the three months ended March 31. The company reported a net increase in revenues by 28.2% to $192.1 million. Gross profit increased by 16.3% to $27.7 million.

Matt Campbell, CEO of Rocky, noted “Our results for the first quarter of 2012 reflect our success across several key areas, including same-store equipment and product support sales. Although our gross margin percentage declined, due primarily to a decrease in manufacturer incentives in the amount of $1.2 million, our increased revenues bolstered our total gross profit.”

Tractor Supply Co., announced financial results for its first fiscal quarter ended March 31, 2012.

Net sales increased 22% to $1.02 billion from $836.6 million in the prior year’s first quarter. Same-store sales increased 11.5% with broad-based strength across all major product categories and driven, in part, by early spring weather in 2012. Inflation, principally in consumable, usable and edible categories, also contributed to the same-store sales increase.

In addition to these factors, the company said total sales benefited from new store growth and the calendar shift related to the 53rd week in fiscal 2011, which resulted in the capturing of an additional week of spring sales in the first quarter of 2012.