AmeraMex International Reports a 24 Percent Increase in Sales for the Year-Ended December 31, 2016
(firmenpresse) - CHICO, CA -- (Marketwired) -- 04/04/17 -- (OTC PINK: AMMX), a provider of heavy equipment to infrastructure, shipping, logging and construction companies, today reported financial results for its financial year ended December 31, 2016.
The company reported revenue of approximately $10.1 million compared to revenue of approximately $8.1 million for the year ended December 31, 2015.
The company reported gross profit of $4.6 million compared to gross profit of $4.0 million for the year ended December 31, 2015. Gross profit as a percentage of sales rose 6 percent over the previous year.
The company reported net income for the year of approximately $1.0 million compared to net income of $1.4 million for the year ended December 31, 2015. The decline is due to added expenses associated with becoming an SEC reporting company. This is the company's sixth consecutive years of profitability.
Current assets improved significantly with an approximate $1.0 million increase in Inventory. Additionally, the company acquired two new heavy-haul transport tractor-trailers and a new service truck.
The Company has completed its 2014 and 2015 audited financial statements. Work has commenced on preparing a Registration Statement on Form 10 (the "Registration Statement") to file with the United States Securities and Exchange Commission ("SEC"). Reviewed interim financial statements and an audit of the 2016 financial statements will be required and those are being prepared as well.
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 many 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 "reporting company" which is a requirement before applying to list on the OTCQB.
In compliance with SEC regulations, the Company retained the firm of Chia & Alton LLP as its auditors and the firm of Fitzgerald, Yap, Kreditor LLP as its legal advisors. The Company recently replaced Chia & Alton LLP with dbbmckennon LLP. The replacement, which slightly delayed the audit of the financials for the year ended December 31, 2016, is better aligned with the needs of AmeraMex.
AmeraMex International will be provide a shareholder update April 5 at 9:30 a.m. Pacific Time. The conference call dial-in number for both U.S. and international callers is 1.719.325.2484. Please dial in to the conference center five minutes before the call begins and ask the operator for the AmeraMex conference call.
Financials follow
AmeraMex International sells, leases and rents heavy equipment to companies within four industries: construction (light and infrastructure), shipping logistics, mining and commercial farming. AmeraMex, with customers in the Americas, Africa, Asia and Eastern Europe, has over 30 years of experience in heavy equipment sales and service and inventories top-of-the-line equipment from manufacturers such as Taylor Machine Works Inc. and Terex Heavy Equipment. For more information visit the AmeraMex website, or .
Except for the historical information contained herein, statements discussing sales or revenue projections are forward-looking and made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. These statements involve risks and uncertainties that could cause actual results to differ materially from any forward-looking statements made herein.
McCloud Communications, LLC
Marty Tullio
Managing Member
Office: 949.632.1900
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Datum: 04.04.2017 - 12:00 Uhr
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News-ID 534255
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Equipment & Supplies
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