"We are encouraged with the results for the first quarter of the year, our best ever first quarter. Activity levels and sentiment in the core construction markets, rental segments and improved performance at Power Systems were healthy," continued Mr. Medhurst. "In the short term, mining will not repeat the substantial contribution to results achieved last year, however growing product support and rental activity are expected to provide a measure of counter balance. At CIMCO, recreational bookings recovered to more normal levels and the order backlog position bodes well for performance this year."
Annual and Special Meeting of Shareholders
The Company will hold its Annual and Special Meeting of Shareholders on April 25, 2013, at 10 a.m. (ET) in the Imperial Room at the Fairmont Royal York Hotel in Toronto, Ontario. The meeting will also be available via live audio webcast at www.toromont.com.
Quarterly Results Materials
The complete first quarter report for 2013, including MD&A and unaudited interim condensed financial statements, is available on our website at www.toromont.com.
Quarterly Conference Call and Webcast
Interested parties are invited to join the quarterly conference call with investment analysts, in listen-only mode, on Wednesday, April 24, 2013 at 2:00 p.m. (ET). The call may be accessed by telephone at 1-866-226-1792 (toll free) or 416-340-2216 (Toronto area). A replay of the conference call will be available until Wednesday, May 8, 2013 by calling 1-800-408-3053 or 905-694-9451 and quoting passcode 3052783.
Both the live webcast and the replay of the quarterly conference call can be accessed at www.toromont.com.
Information in this press release that is not a historical fact is "forward-looking information". Words such as "plans", "intends", "outlook", "expects", "anticipates", "estimates", "believes", "likely", "should", "could", "will", "may" and similar expressions are intended to identify statements containing forward-looking information. Forward-looking information in this press release is based on current objectives, strategies, expectations and assumptions which management considers appropriate and reasonable at the time including, but not limited to, general economic and industry growth rates, commodity prices, currency exchange and interest rates, competitive intensity and shareholder and regulatory approvals.
By its nature, forward-looking information is subject to risks and uncertainties which may be beyond the ability of Toromont to control or predict. The actual results, performance or achievements of Toromont could differ materially from those expressed or implied by forward-looking information. Factors that could cause actual results, performance, achievements or events to differ from current expectations include, among others, risks and uncertainties related to: business cycles, including general economic conditions in the countries in which Toromont operates; commodity price changes, including changes in the price of precious and base metals; changes in foreign exchange rates, including the Cdn$/US$ exchange rate; the termination of distribution or original equipment manufacturer agreements; equipment product acceptance and availability of supply; increased competition; credit of third parties; additional costs associated with warranties and maintenance contracts; changes in interest rates; the availability of financing; and, environmental regulation.
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