For Immediate Release
Investor and Media Relations
McCloud Communications, LLC
Marty Tullio, Managing Member
Office: 949.632.1900 or Marty@McCloudCommunications.com
AmeraMex International Reports 2015 Year-End
Financials: Eighth Consecutive Profitable Quarter with Income
Increasing 40 Percent
CHICO, CA –April 23, 2016
– AmeraMex International, Inc. (OTC:AMMX), a provider of heavy equipment
to infrastructure, shipping, logging and construction companies, today reported
financial results for its financial year ended December 31, 2015.
Highlights for the Year Ended December 31, 2015:
Revenue for 2015 Increased 13 Percent; Gross Profit Up Slightly at
49 Percent
The company reported revenue of
approximately $8.3 million with gross profit of $4 million compared to revenue
of approximately $7.3 million with gross profit of $3.6 million for the year
ended December 31, 2014.
Net Income Increased 40 Percent
The company reported net income for
the year of approximately $1.1 million compared to net income of $.801 million for
the year ended December 31, 2014.
Stronger Balance Sheet
Current assets improved significantly
with an increase in cash and cash equivalents of approximately $.500 million
and an approximate $.700 million increase in inventory.
Yield Sign Removed
The ‘yield’ sign from the company
stock symbol, AMMX, was removed. Additionally, a review of financial statements and back-up
information for 2014 and 2015 begins early May. The company expects to announce the retention of an auditing firm
shortly. Monies have been set aside for
the SEC audit necessary to become a fully reporting company.
Insurance for Employees
To reduce overhead during the
2008 economic downturn and ensuing years, the company was forced to stop
providing health insurance for its employees. Management was happy to reinitiate
health insurance coverage at the beginning of 2016.
AmeraMex CEO Lee Hamre commented,
“Sustained growth in our core business – sales, rental and service, has
increased capital and cash flow which in turn allowed acquisition of much
needed inventory for refurbishing and resale within the U.S. and internationally. We are also planning an expansion of our
product offering as we expect to sign a new dealership agreement for military
equipment in the late May timeframe. This will allow us to pursue new opportunities throughout many parts of
the world.”
Hamre continued, “We will be
providing an update on our upcoming SEC audit and various projects during our Friday,
March 25th conference call scheduled at 10:00 a.m. PT. “
The financial tables are contained in the attached PDF.