Ritchie Bros. Auctioneers reports strong growth for 2008
finance.yahoo.com
Thursday February 26, 2009, 7:00 am EST
VANCOUVER, Feb. 26 /PRNewswire-FirstCall/ - Ritchie Bros. Auctioneers Incorporated (NYSE: RBA; TSX: RBA) announces record net earnings for the year ended December 31, 2008 of $101.4 million, or $0.96 per diluted share, and adjusted net earnings of $85.5 million, or $0.81 per diluted share. This compares to adjusted net earnings of $71.9 million, or $0.68 per diluted share for 2007, representing year-over-year growth of 19%. Financial statement net earnings in 2007 were $76.0 million, or $0.72 per diluted share. The Company conducted 193 industrial auctions in 13 countries throughout North America, Europe, the Middle East, Asia and Australia, and set 12 regional gross auction proceeds records during the year. The Company also opened five new or replacement auction facilities in 2008 as it continued its global expansion program. |
