AmeraMex International Reports a 15 Percent Increase in Revenue for the Year-Ended December 31, 2017 and a $6.9 Million First Quarter
CHICO, CA – March 30, 2018 – AmeraMex International, Inc. (OTC:AMMX), a provider of heavy equipment for logistics companies, infrastructure construction, and tactical military vehicles, reports results for its financial year ended December 31, 2017 and a brief overview of sales for the first quarter of 2018 ending March 31.
Highlights for the Year Ended December 31, 2017:
Revenue for 2017
The company reported revenue of approximately $8.8 million compared to revenue of approximately $7.5 million for the year ended December 31, 2016.
Gross Profit for 2017 Increased 45 Percent
The company reported gross profit of $4.3 million compared to gross profit of $2.3 million for the year ended December 31, 2016. Gross profit as a percentage of sales rose 17 percent over the previous year.
Net Income
The company reported net income for the year of approximately $1.7 million compared to net loss of million for the year ended December 31, 2016.
Stronger Balance Sheet
Total assets improved significantly due in part to an approximate $2.5 million increase of inventory. Total liabilities for the year increased $1.5 million due in part to the purchase of inventory.
Audit Update
The Company’s outside auditors have completed the audit of its 2016 financial statements. They are now just finishing their review of the Company’s financial statements for the year ended December 2017 and will provide AmeraMex with any adjustments required. The Company plans to file the Registration Statement with the SEC as soon as possible. Then the SEC comment process will begin. The process can last three to four months, but the Company and its service providers are committed to responding expeditiously. After the SEC comment process is completed to their satisfaction, they will declare the Registration Statement “effective” and AmeraMex will be a “fully reporting company” which is a requirement before applying to list on the OTCQB.
First Quarter 2018
During the first quarter of 2018, AmeraMex has reported sales of over $6.9 million. Based on the current economic climate, management believes this positive outlook will continue to grow sales throughout 2018 and beyond.
Shareholder Conference Call
AmeraMex International will provide a shareholder update March 30 at 10:00 a.m. Pacific Time. The conference call dial-in number for both U.S. and international callers is 1.323.994.2083. Please dial in to the conference center five minutes before the call begins and ask the operator for the AmeraMex conference call.
