Rocky Mountain Dealerships Inc. reported unaudited earnings results for the third quarter and nine months ended September 30, 2017. For the quarter, the company reported sales of $238,884,000 against $222,647,000 a year ago. Earnings before income taxes were $12,475,000 against $9,542,000 a year ago. Net earnings were $9,067,000 or $0.47 per basic and diluted share against $6,632,000 or $0.34 per basic and diluted share a year ago. Adjusted diluted earnings per share were $0.44 against $0.37 a year ago. Adjusted EBITDA was $14,122,000 against $12,208,000 a year ago. Operating cash flow before changes in floor plan was $26,171,000 against $62,284,000 a year ago. EBITDA was $14,738,000 against $11,867,000 a year ago. Cash flow from operating activities was $9,275,000 against $20,590,000 a year ago. Adjusted EBITDA increased 16%, due to increased sales and lower operating SG&A as a percentage of sales. Total sales increased $16.2 million or 7.3% compared with the same period in 2016 due to growth across all revenue streams.

For the nine months, the company reported sales of $685,966,000 against $644,686,000 a year ago. Earnings before income taxes were $20,403,000 against $14,751,000 a year ago. Net earnings were $14,728,000 or $0.76 per basic and diluted share against $10,262,000 or $0.53 per basic and diluted share a year ago. Adjusted diluted earnings per share were $0.77 against $0.61 a year ago. Adjusted EBITDA was $27,409,000 against $23,445,000 a year ago. Book value per diluted share at September 30, 2017 was $9.68 against $8.92 a year ago. Operating cash flow before changes in floor plan was $35,647,000 against $73,084,000 a year ago. EBITDA was $27,368,000 against $21,936,000 a year ago. Cash flow from operating activities was $3,531,000 against $14,246,000 a year ago.

The company still expecting that annual gross margin of 2017 to be consistent with where company was last year.