Rocky Mountain Dealerships announces increases in net sales, net income

Rocky Mountain Dealerships announced a 64.5 percent increase in net sales for the second quarter 2009. Net sales for the quarter totaled $155.1 million, an improvement from net sales of $61.7 million in the same quarter last year.

The company also reported an increase of 33 percent in net income to $3.8 million, or $0.28 per share, compared with a net income of $2.7 million, or $0.21 per share, for the second quarter 2008.

Rocky Mountain Dealerships contributes its spike in revenue to improved sales from the company’s primary revenue sources. New equipment sales increased to $90.6 million for the second quarter 2009, compared to $61.7 million last year. Used equipment sales experienced a 188-percent jump to $38.8 million, compared to $13.5 million in 2008. Revenue from product support also increased to $24.4 million, up from $16.8 million for the same quarter last year.

The company’s gross profit increased to $21.8 million, up 35 percent from $16.1 million in the second quarter 2008.

For the complete second quarter 2009 financial results, visit Rocky Mountain Dealerships’ Investor Relations website.