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Non-Tech : Ritchie Bros. (RBA)
RBA 100.33+4.3%Nov 7 9:30 AM EST
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From: JakeStraw8/7/2009 9:27:50 AM
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Ritchie Bros. Auctioneers reports continued strong earnings in the second quarter and increases dividend
finance.yahoo.com
Friday August 7, 2009,

"Our commitment to executing our long-term growth strategy resulted in another strong billion-dollar quarter for Ritchie Bros.," said Peter Blake, Ritchie Bros.' CEO. "We've achieved record year-to-date auction revenues and reduced general and administrative expenses, resulting in a 12% increase in earnings from operations for the first six months of the year. These results are a testament to the hard work and commitment of our employees worldwide, as well as the strength of our business model, which emphasizes long-term stable growth and expansion, wise use of company resources and the importance of delivering value and exceptional service to buyers and sellers of equipment."

Mr. Blake continued: "We've seen two noticeable worldwide trends recently: there's more used equipment coming to market and more people are turning to our fair, transparent unreserved public auctions to meet their equipment needs. We're selling more lots, attracting more bidders and continuing to conduct record-breaking auctions in what many people would describe as a challenging market. Buyers and sellers of used equipment are turning to Ritchie Bros. in increasing numbers, and the investments we've made in developing our salesforce and expanding our global network of auction sites have enabled us to handle and benefit from that growth. We're pleased with our progress and believe we are on track to meet our goals for 2009."
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