Cervus Equipment, which owns 30 agricultural and industrial dealerships in the West, had net earnings of $5.06 million in the quarter ending June 30, down 31 percent from the same period last year.
The company attributed the lower profit to lower gross margins, particularly on agricultural equipment.
Revenue in the three months rose to $127.9 million, up 21 percent from the same period of 2009.
Revenue rose due to the January 2010 acquisition of A.R. Williams Materials Handling Ltd. and the September 2009 purchase of Ranchers Supply Inc.
However, that was partly offset by a decrease in gross revenue from the disposal of two John Deere dealerships in Russell, Man. and Moosomin, Sask., in exchange for a 20 percent partnership interest in Maple Farm Equipment Partnership in January.
Its main brands are John Deere, Bobcat and JCB construction equipment.
