FOR IMMEDIATE RELEASE
Investor and Media Relations
McCloud Communications, LLC
Marty Tullio, Managing Member
949.632.1900 or Marty@McCloudCommunications.com
AmeraMex International Reports Revenue of $2.0 Million
For the First Quarter Ended March 31, 2018
Gross profits for the
quarter increased 96 percent
CHICO, CA – May 15,
2018 – AmeraMex International, Inc.
(OTC:AMMX), a provider of heavy equipment for logistics companies (stevedoring/shipping), infrastructure construction companies and tactical vehicles for
military organizations, today
reported financial results for its first quarter ended March 31, 2018.
Highlights for the First Quarter of 2018
·
Revenue for the first quarter
was approximately $2.0 million, a 33 percent increase when compared to revenue
of $1.5 million for the 2017 quarter.
·
Gross profit for
the first
quarter was approximately $1.3
million compared to gross profit of $.689 million for the quarter ended March
31, 2017. This is an increase of 96 percent.
·
Net income for the
quarter was $529,216 compared to net income of $2,329 for the first quarter
ended March 31, 2017.
·
Year-to-date, AmeraMex
has received $7.6 million in equipment orders and renewal of rental contracts.
This compares to $2.8 million in equipment orders and rental agreements for the
same time period in 2017.
·
The audit for 2017
has not yet been completed. Management
will disseminate an update when the documents are provided to its outside legal
counsel.
AmeraMex
CEO Lee Hamre commented, “Last year we announced our agreement with Oshkosh
Defense, LLC. It has taken time to
become familiar with the line tactical vehicles and determine decision makers
within our target markets as political teams can rapidly change. We extended invitations to potential
customers and now have visits and demonstrations scheduled at the Oshkosh
facility. We continue to believe our
agreement with Oshkosh Defense, LLC, is a catalyst for international sales growth.
“As announced
last week, we have a large demonstration scheduled showcasing our Menzi Muck and
AVR product lines in June. The demonstration, scheduled at a Forrest Service
location in California, has drawn over 100 decision makers and influencers.”
FINANCIAL TABLES ARE AVAILABLE IN THE ATTACHED PDF