Dealer News Update

Rocky Mountain Dealerships Inc. reported financial results for the three ended June 30, 2012. The company’s revenues increased by 8.8% to $225.7 million. Gross profit increased to $34.2 million (15.2% of sales) from $31.1 million (15.0% of sales).

LandMark Implement will take over Bellamy Inc., Elwood, NE. Ken Bellamy said, “Landmark has agreed to keep it for one year. All of our employees will keep their jobs.” Ken said. “It’s what the implement business is coming to. There’ll be about four or five dealerships left in Nebraska.”

Cervus Equipment Corp., Calgary, Alberta, Canada, announced its financial results and operational highlights for the quarter ended June 30, 2012. The company increased gross revenue by $49.6 million to $196.7 million from $147.1 million in the second quarter of 2011. The company also increased net profit for the period by $1.7 million to $7.4 million, from the second quarter 2011 profit of $5.7 million. The company also announced that it is spending C$4.9 million in cash and shares to buy five John Deere dealerships in New Zealand and take full ownership of the local operation it already controls. The company has signed purchase and sales agreements for Bayquip Agricultural’s three branches and Fieldpower Northland’s two dealerships, Cervus said.

Tractor Supply Company, Brentwood, TN, announced financial results for its second fiscal quarter ended June 30, 2012. Net sales for the company increased 9.6% to $1.29 billion from $1.18 billion in the prior year’s second quarter. Same-store sales increased 3.2% compared to a 4.6% increase in the prior-year period.