03:41 PM EST - Ritchie Bros. Auctioneers Inc. : reported third-quarter net income of $12.892 million U.S. or $0.12 U.S. per share compared to $11.934 million U.S. or $0.11 U.S. per share last year. Adjusted net income was $12.892 million U.S. or $0.12 U.S. per share compared to $13.025 million U.S. or $0.12 U.S. per share a year ago. On average, 17 analysts polled by Thomson Reuters expected the company to report profit of $0.13 U.S. per share for the quarter. Analysts' estimates typically exclude special items. Gross auction proceeds were $693.3 million U.S. compared to $767.7 million U.S. last year. The company noted that its growth in gross auction proceeds in Canada was more than offset by a decline in gross auction proceeds in the United States. Auction revenues were $75.9 million U.S. compared to $75.9 million U.S. a year ago. Analysts expected revenue of $81.70 million U.S. for the quarter. Ritchie Bros. Auctioneers Inc.
shares T.RBA are trading down $0.28 at $24.08.
