Rocky Mountain Dealerships reports lower revenue but improved profits for the third quarter.
The company said sales of new and used equipment declined but revenue from machinery maintenance, repair and parts increased.
Revenue fell to $230.8 million, down 15 percent from the same quarter last year.
Equipment sales decreased by $39.8 million or 18.6 percent during the quarter, with reduced used equipment sales responsible for most of the decline. Late seeding and lower crop prices reduced farmers’ optimism.
Revenue from parts and service rose to $45.6 million, up from $43 million in the same period in 2013, the company said. Net earning rose to $6.2 million, up almost five percent.
Earnings before interest, taxes, depreciation and amortization increased by 5.2 percent to $10.8 million.
