August 11, 2009 / 12:42 PM / in 8 years

UPDATE 1-Rocky Mountain Dealerships Q2 profit rises

* Q2 EPS C$0.28 vs C$0.21 last year

* Rev up 64 pct

* Maintains dividend

Aug 11 (Reuters) - Rocky Mountain Dealerships Inc RME.TO on Tuesday said its second-quarter profit rose more than 40 percent helped by higher sales of agriculture and construction equipment.

The company earned C$3.8 million ($3.49 million), or 28 Canadian cents a share for the period ended June 30, 2009. That compares with net income of C$2.7 million, or 21 Canadian cents a share, in the same period last year.

Rocky Mountain Dealerships, which sells, rents and leases new and used agriculture and construction equipment, said net sales for the quarter were up about 64 percent to C$155.1 million.

Analysts on average expected the company to earn 22 Canadian cents a share, before items, on revenue of C$119.6 million, according to Reuters Estimates.

The company, which has 22 dealership branches throughout Alberta, Saskatchewan and Manitoba, maintained its quarterly cash dividend of C$0.045 per share.

Shares of the company closed at C$4.50 Monday on the Toronto Stock Exchange.

$1=1.090 Canadian Dollar Reporting by Chakradhar Adusumilli in Bangalore; Editing by Vikram S Subhedar

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