04:01 PM EST - Ritchie Bros. Auctioneers Inc. : reported an increase in fourth-quarter profit, helped by an increase in net auction revenues, as well as foreign exchange gains. Adjusted earnings for the quarter surged from a year ago and topped analysts' consensus estimate. The Vancouver-based company reported fourth quarter net earnings of $27.14 million or $0.26 per share, compared to $16.97 million or $0.16 per share in the same quarter last year. Adjusted net earnings for the quarter were $19.22 million or $0.18 per share, compared to $16.95 million or $0.16 per share in the same quarter last year. On average, 11 analysts polled by Thomson Reuters expected the company to report earnings of $0.17 per share for the quarter. Analysts' estimates typically exclude special items. Auction revenues for the quarter declined to $81.69 million from $82.13 million in the prior-year quarter. Analysts had a revenue consensus of $87.90 million. Ritchie Bros. Auctioneers Inc.
shares T.RBA are trading up $0.48 at $19.68.
