RDO Equipment Co. recently announced that revenues for the first quarter of its fiscal year were $154.7 million, compared with $185.9 million reported for the same period last fiscal year.
Construction and truck division revenues were down compared with prior year levels, while agricultural revenues increased year over year. Total company revenues decreased $26.1 million or 14 percent from truck operations, including the Roseville truck store that was sold in the fourth quarter of last fiscal year. Revenues from core operations of’ agricultural and construction equipment were down $4.2 million, or 3 percent, from last year.
For the first quarter, the company reported a net loss of $356,000, compared with net income of $871,000 for the same period a year ago. Though down from a year ago, the results from the first quarter represent a significant turnaround from the previous three quarters.
The company also announced that it has completed transactions selling its truck center business located in Dallas, Waco and Fort Worth, TX. The Volvo dealership operations were sold to Volvo Trucks North America Inc., while the GMC portion of the business was sold to Hayes leasing Company Inc.
