Rocky Mountain Dealerships Inc. Announces First Quarter Results

Rocky Mountain Dealerships Inc. reported its financial results for the three months ended March 31, 2014. A summary of financial results for the first quarter stated that inventory decreased by $46.9 million to $516.4 million, total revenues declined by 4.0% to $198.2 million, gross profit declined by 10% to $29.2 million (14.8% of sales), and annual dividend increased 15%. The report also indicated that the company successfully executed its previously announced strategy to dispose of rock trucks.

“Product support sales showed encouraging growth during the first quarter, realizing a 15.3% increase over 2013. Our construction segment has realized a net income improvement of $0.9 million over the prior year,” noted Matt Campbell, the company’s CEO. “Agriculture equipment revenues were down as demand was affected by a backlog in grain haulage by rail affecting customer cash flow and record low temperatures affecting foot traffic in our dealership yards.”