AmeraMex International Reports Revenue of $1.5 Million First Quarter Ended March 31, 2017
May 16, 2017
OTC Disclosure & News Service
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AmeraMex International Reports Revenue of $1.5 Million First Quarter Ended March 31, 2017
CHICO, CA--(Marketwired - May 16, 2017) - AmeraMex International, Inc. (OTC PINK: AMMX), a provider of heavy equipment for logistics companies (stevedoring/shipping), infrastructure construction, companies, and tactical vehicles for military organizations, today reported financial results for its first quarter ended March 31, 2017.
Highlights
Revenue for the first quarter was approximately $1.5 million versus revenue of $3.2 for the comparable quarter. Historically, the first quarter is the weakest revenue quarter but fortunately, the first quarter of 2016 was an exceptional quarter.
Gross profit for the first quarter was approximately $.689 million compared to gross profit of $.2.7 million for the quarter ended March 31, 2016.
Net profit for the quarter of $2,329.00 compared to net profit of $1.2 million for the first quarter ended March 31, 2016. This is due in part to 50 percent less revenue and an increase in expenses associated with the ongoing audit.
Year-to-date, AmeraMex has received $2.8 million in equipment orders and renewal of rental contracts.
This month, the company announced an agreement to represent Oshkosh Defense, LLC, an Oshkosh Corporation (NYSE: OSK) company, within the Federal Republic of Nigeria.
AmeraMex CEO Lee Hamre commented, "We were pleased to announce our agreement with Oshkosh Defense, LLC, and believe the expanded product line will increase international revenue growth. Progress is being made with our Menzi Muck demonstrations and requests for proposals. We expect the second quarter to show significant sales growth."
An update regarding the completion of the audit for 2016 will be provided within a two-week period
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