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CHICO, Calif., Nov. 09, 2018 (GLOBE NEWSWIRE) -- AmeraMex International, Inc. (OTC:AMMX), a provider of heavy equipment for logistics companies, infrastructure construction, forestry conservation and tactical military vehicles, reported financial results for its third quarter and nine-month period ended September 30, 2018.
Third Quarter Ended September 30, 2018
The company reported revenue of approximately $3.6 million, a 96 percent increase when compared to revenue of approximately $1.8 million for the third quarter of 2017.
Gross profit for the quarter was $1.9 million, or a gross profit margin of 50 percent, compared to gross profit of $.743 million, or a gross profit margin of 40 percent, for the third quarter of 2017.
The company reported net income for the quarter of $.987 million, an 85 percent increase when compared to a net income of $.535 million for the comparable 2017 quarter.
Nine-Month Period Ended September 30, 2018
Revenue for the nine-month period increased 66 percent to approximately $8.4 million when compared to revenue of $5.1 million for the 2017 nine-month period.
Gross profit for the nine-month period was $4.1 million, or a gross profit margin of 49 percent, compared to gross profit of $2.2 million, or a gross profit margin of 44 percent for the 2017 nine-month period.
The company reported net income of approximately $1.5 million, an increase of 94 percent when compared to net income of approximately $.771 million for the 2017 period.
AmeraMex CEO Lee Hamre commented, “We are pleased that the two-year audit is complete and our outside legal team is working on the Form 10 Registration Statement. We are also pleased with the nine-month period results and have booked another $1.9 million since the end of the third quarter. We have a large backlog of potential orders and believe this will be a banner year for AmeraMex.”
The shareholder conference call, chaired by AmeraMex CEO Lee Hamre, is scheduled for Friday, November 9, 2018 at 8:00 a.m. Pacific Time, 11:00 p.m. Eastern Time.
The conference call dial-in number for both U.S. and international callers is 1.201.689.8560. An audio replay of the call will be available from November 9, 2018 at 5:00 p.m. Eastern Time until November 23, 2018 at 11:59 p.m. Eastern Time. The replay is accessible by dialing 1.412.317.6671 and entering pin number 13684542. An audio version of the conference call
will also be available on the Company’s website, www.ammx.net.