Rocky Mountain Dealerships Inc. ("Rocky Mountain" or the "Company"), a leading Canadian network of full service agriculture and construction equipment dealerships, today reported financial results for the three months ended March 31, 2010.

In the first 3 months of 2010, net sales were $120.5 million compared to $107.2 million for the same period of 2009. New equipment sales were $61.9 million for the3-month period of 2010 compared to $47.5 million in the prior year. Used equipment sales were $38.1 million for the 3-month period of 2010, similar compared to the $39.2 million for the same period of 2009. Revenue generated from product support was $19.9 million in the first quarter of fiscal 2010 compared to $19.1 million for the same period of 2009.

Gross profit for the first quarter of 2010 was $19.2 million compared to $16.1 million for the same period of the prior year. The Company's gross profit margin was 16.0% for the 3-month period of 2010 vs. 15.1% for the same period of the prior year.

Selling, general, and administrative expenses remained consistent at 11.7% of sales for both the first quarter of 2010 and for the same period of the prior year.

Net income for the first quarter of 2010 increased 148.8% to $1.8 million from $0.7 million in the prior year period. This is due to strong organic growth on the agricultural side of the business, acquired revenue growth and improved operating efficiencies.

Commenting on the performance of Rocky, Matt Campbell, Chairman and Chief Executive Officer said, "We are pleased with our first quarter results which show continued execution of our stated objectives. The improvements in results, EPS, net income, EBITDA, and margins demonstrates that the management team at Rocky Mountain can deliver all the while maintaining best in peer group SG&A."

Campbell continued, "we will continue to pursue highly accretive acquisitions and, at the same time, devote even more energy and resources to improve our operating metrics."