Ritchie Bros. Auctioneers announced net earnings for the year ended December 31, 2011 of $76.6 million, or $0.72 per diluted share, and adjusted net earnings of $73.6 million, or $0.69 per diluted share. This compares to net earnings of $65.7 million and adjusted net earnings of $64.9 million, or $0.61 per diluted share, for the year ended December 31, 2010, representing a 13% increase in adjusted net earnings.

The company’s auction revenues for 2011 grew 11% to $396.1 million compared to $357.4 million for the same period in 2010. The company conducted 228 unreserved industrial auctions in 13 countries throughout North America, Europe, the Middle East, Central America and Australia during 2011.

To read the company’s full earnings news release click here.