Cervus Equipment, which owns John Deere dealerships, generated net income of $1.7 million for the quarter ended March 31, up from a $3 million loss in same quarter last year.
The company credited its expense control plan, which lowered costs by $6 million, and improvements in parts and service departments.
“Further, first quarter profitability in our agricultural dealerships indicates a good start to the year, and net farm cash income leading into 2016 was amongst the highest on record for producers,” said Graham Drake, president and chief executive officer.
