CALGARY - Acquisitions slightly boosted revenue at Rocky Mountain Dealerships Inc. (TSX:RME) and helped it book a $5.7-million profit in its final 2009 quarter, reversing a loss from a year ago, the company said Tuesday.
The company, which owns agricultural and construction equipment dealerships, said the net income for the period ended Dec. 31 equalled 35 cents a share. That reversed a loss of $93.5 million or $7.34 a share a year earlier.
The Calgary company had net sales of $147.7 million in the fourth quarter of 2009, up from $146.9 million a year before.
For the full year, Rocky earned $15.2 million or $1.02 a share versus a loss of $87.7 million or $6.88 a share.
It generated revenues of $555.8 million in all of last year compared with $404.1 million.
Matt Campbell, chairman and chief executive, said in a release that it's "absolutely pleased" with its improved performance in the recently-concluded fiscal year.
"In spite of the worst financial crisis ever, we came through the year with growth, profits and increased market share," Campbell stated.
It attributed its success to the acquisitions in its Prairie business, improved operating efficiencies and cost control. It closed the purchase of Enns Agri in Winkler, Man., and Mayor Equipment in Neepawa, Man., in November.
Enns represents the Case IH agriculture brand and also carries Yamaha and Land Pride equipment. Mayor also represents the Case IH agriculture brand and also sells various short-line equipment such as MacDon, Morris and Degelman.
Shares of Rocky Mountain Dealerships fell 45 cents to $10.34 during morning trading on the Toronto Stock Exchange.