AmeraMex International Reports Revenue of $1.5 Million First Quarter Ended March 31, 2017
(firmenpresse) - CHICO, CA -- (Marketwired) -- 05/16/17 -- (OTC PINK: AMMX), a provider of heavy equipment for logistics companies (), infrastructure construction, companies, and tactical vehicles for military organizations, today reported financial results for its first quarter ended March 31, 2017.
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 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.
AmeraMex International sells, leases and rents heavy equipment to companies within four industries: construction (light and infrastructure), shipping logistics, mining and commercial farming. AmeraMex International's largest product line is specialized container handling equipment that enables stevedoring companies to quickly and efficiently load and offload container and general freight ships dockside. The company recently added an inclusive product line of advanced performance tactical military vehicles targeting African countries. AmeraMex, with customers in the Americas, Africa, Asia and Eastern Europe, has over 30 years of experience in heavy equipment sales and service and maintains an inventory of top-of-the-line equipment and parts 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
949.632.1900
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Datum: 16.05.2017 - 12:00 Uhr
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