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February 27, 2013 9:00 AM, EST
Ritchie Bros. Reports Lower 4Q, Higher Full-Year Income

Ritchie Bros. Auctioneers said its fourth-quarter profit slipped from a year ago to $22.1 million, or 21 cents per share, from $26.8 million, or 25 cents, a year ago.

For the full year it earned $79.5 million, or 74 cents per share, up from $76.6 million, or 72 cents, the previous year.

Gross auction proceeds slipped to $1 billion from $1.04 billion for the quarter and rose for the full year to $3.91 billion from $3.71 billion.

Ritchie Bros. describes itself as the world’s largest seller of used equipment for the construction, transportation, agricultural, material handling, energy, mining, forestry,  marine and other industries.

The Vancouver, British Columbia-based company reports its earnings in U.S. dollars.