(Stock Symbol "RME" - TSX)
Issued: 18,256,183 shares
CALGARY, June 30 /CNW/ - Rocky Mountain Dealerships Inc. ("Rocky Mountain", "Rocky" or the "Company"), a leading Canadian network of full service agriculture and construction equipment dealerships, today commented on the weather conditions in the areas in which it distributes equipment and the potential impact on the second quarter ("Q2") results.
Due to the recent heavy moisture levels, many of the Company's customers were late in seeding their crops, had flooding and as a result had to re-seed their crops, or in some cases were unable to seed a crop for this season. While Saskatchewan was hardest hit, some overlap was felt in Alberta and Manitoba where the majority of Rocky Mountain's business is located. As a result, the Company has experienced softer Q2 sales in the agricultural sector than anticipated as many of its customers have been focusing their efforts on getting the seed into the ground. As of today's date, provincial crop reports list Alberta as 95% seeded, Saskatchewan at 76%, and Manitoba at 85%. On the positive side, the moisture was welcomed by farmers in central and northern Alberta who experienced drought in 2009.
Commenting on the performance of Rocky Mountain, Matt Campbell, Chairman and Chief Executive Officer said, "Rocky manages its business on an annual basis and while the wet spring has presented challenges the moisture is welcomed and customers that have seeded are reporting excellent crops with strong yields anticipated."
Matt continued, "Many factors will come in to play as we watch the season unfold but we are confident in our customers and our abilities to meet the challenges. We will continue to focus on the key fundamentals of our business that have got us to where we are today."
About Rocky Mountain
Rocky Mountain represents one of Canada's largest agriculture and construction equipment dealerships with a total of 29 dealership branches throughout Alberta, Saskatchewan and Manitoba. Rocky Mountain sells, rents, and leases new and used construction and agriculture equipment, including the Case Construction, Case IH agriculture and New Holland brands, as well as offering product support and finance and insurance products to its customers. In addition, Rocky Mountain also distributes equipment from a number of other manufacturers, including but not limited to Terex, Dynapac, Kawasaki, Leeboy, Bourgault, and Kubota.
Additional information on Rocky Mountain is available on our website at www.rockymtn.com and on SEDAR at www.sedar.com.
SOURCE Rocky Mountain Dealerships Inc.
For further information: For further information: Rocky Mountain Dealerships Inc., M.C. (Matt) Campbell, Chairman and Chief Executive Officer; Brian Taschuk, Chief Operating Officer; or Garrett Ganden, Chief Financial Officer, 828 - 46th Avenue S.E., Calgary, Alberta, T2G 2A6, Telephone: (403) 243-8600, Fax (403) 243-2264; Investor Relations, Renmark Financial Communications Inc., John Boidman, Vice President, Telephone: (514) 939-3989, Email: email@example.com