Ritchie Bros. Auctioneers Inc. (TSX:RBA) reports it had $22.1 million or 21 cents per share of profit in the fourth quarter, a 16 per cent decline from the year-earlier period.
The Vancouver-based company's revenue from auction services improved to $117.1 million
However, earnings from operations fell to $33.1 million from $38.8 million as overhead expenses increased. Other sources of income also fell year-to-year.
In the fourth quarter of 2011, revenue had been $113.4 million and net income was $26.8 million or 25 cents per share. The company says the profit would have been higher but for costs related to the acquisition of AssetNation.
For the full year ended Dec. 31, Ritchie Bros. reported $79.5 million of net income or $82.6 million of adjusted net income, equal to 74 cents or 77 cents per share respectively on a diluted basis.
Read more Business News
- 80,000 lose powerBC - 5:54 am
- Hiker struck by falling rockPenticton / S. Okanagan
- Apartment laundry rooms targetedPenticton / S. Okanagan - 5:00 am
- School District remits $11.5MCentral Okanagan - 5:40 am
|QHR Technologies Inc||1.16||-0.01|
|Anavex Life Sciences||0.192||+0.001|
|Copper Mountain Mining||2.07||-0.10|
|Sunrise Resources Ltd||0.06||0.00|
|Mission Ready Services||0.46||0.00|
This time of year, I always worry about which friends of mine will get caught going off the road in adverse weather conditions. With a little preparation most accidents can be avoided. Having won the...
Photo: Thinkstock.comThe end of record-low rates is nigh, according to one major bank, which has taken a stance and predicted when the Bank of Canada will raise its long-standing overnight rate. &ldq...
The third week in October is “Small Business Week”, a week dedicated to supporting local, small businesses. The week was designed to bring awareness to Canadians about the role small busin...