RDO Equipment Will Report Lower Results for Quarter.Business Editors
FARGO, N.D.--(BUSINESS WIRE)--Aug. 14, 2000
Continuing Margin Pressures and Higher Expenses Reason for Loss;
Court Hearing Directs Parties to Arbitration arbitration
Process of resolving a dispute or a grievance outside a court system by presenting it for decision to an impartial third party. Both sides in the dispute usually must agree in advance to the choice of arbitrator and certify that they will abide by the
RDO (Remote Data Objects) A programming interface for data access from Microsoft. It is used in Visual Basic to access remote ODBC databases. See DAO, ADO, OLE DB and ODBC. Equipment Co. (NYSE NYSE
See: New York Stock Exchange :RDO) announced today that results for the quarter ended July 31, 2000 would be below current analysts' estimates and would likely result in a net loss of $1.2 to $1.8 million. The Company said that while revenues would show increases for the quarter and year-to-date Year-to-date (YTD)
The period beginning at the start of the calendar year up to the current date. , largely due to agricultural operations, those increases are not sufficient to offset continuing equipment and truck margin pressures and higher than anticipated expenses. The expenses are related to the consolidation and integration of the Company's acquired truck dealerships and are not expected to remain at current levels. The Company expects to report quarterly results during the week of August 21, 2000.
The Company also announced that its action against John Deere Construction Equipment Company and related parties is proceeding. A hearing was held last week in Minnesota state court and, as a result, parties to the action have been ordered to proceed to arbitration.
RDO Equipment Co. specializes in the distribution, sale, service, rental and finance of equipment and trucks to the agricultural, construction, manufacturing, transportation and warehousing industries, as well as to public service entities, government agencies and utilities. These operations, which consist of 54 retail stores in 9 states, include the largest network of John Deere construction and agricultural stores in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. , as well as Volvo and Mack truck centers.
The future results of RDO Equipment Co., including results related to forward-looking statements forward-looking statement
A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. in this news release, involve a number of risks and uncertainties. Important factors (such as customer confidence, economic conditions, weather, actions of the Company's suppliers and competitors, and risks associated with the Company's growth strategies) that will affect future results of the Company, including factors that could cause actual results to differ materially from those indicated by forward-looking statements, are discussed in the Company's filings with the Securities and Exchange Commission. The Company's forward-looking statements are based upon assumptions relating to relating to relate prep → concernant
relating to relate prep → bezüglich +gen, mit Bezug auf +acc these factors. These assumptions are sometimes based upon estimates, data, communications and other information from suppliers, government agencies and other sources that are often revised. The Company makes no commitment to revise forward-looking statements, or to disclose subsequent facts, events or circumstances CIRCUMSTANCES, evidence. The particulars which accompany a fact.
2. The facts proved are either possible or impossible, ordinary and probable, or extraordinary and improbable, recent or ancient; they may have happened near us, or afar off; they are public or that may bear upon forward-looking statements.