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 $3.2 Million
with Net Income of $1.2 Million for the First Quarter of 2016
CA – May 16, 2016 – AmeraMex
International, Inc. (OTC:AMMX), a provider of
heavy equipment for logistics companies
(stevedoring/shipping), infrastructure construction, logging and mining companies, today reported financial results for
its first quarter ended March 31, 2016.
Highlights for the
First Quarter Ended March 31, 2016
Revenue for the
first quarter was approximately $3.2 million versus revenue of $.936 for the
· Gross profit for the first quarter was
approximately $2.7 million—a significant increase when compared to gross profit
of $.549 million for the quarter ended March 31, 2015.
· Gross profit margin, as a percentage of
revenue, was 83 percent, versus a gross profit margin of 59 percent for the
comparable 2015 quarter.
The company net profit for the quarter of
$1.2 million (after taxes) compared to net profit of $.020 million for the
first quarter ended March 31, 2015.
First quarter balance sheet continues to improve when
compared to the 2015 year-end balance sheet.
AmeraMex International received $3.7 million in
sales and rental contracts during the first quarter and to date in the second
quarter, the company has reported approximately $1.8 million in sales.
AmeraMex CEO Lee Hamre commented, “Progress
has been made with various projects in our African pipeline but there hasn’t
been any significant breakthroughs since our March 25 conference call. When
there are, we will happily share the information via a public news release.
“We are gearing up for the beginning
of our SEC audit and are pleased to ‘get the show on the road’ to become a
fully reporting company. I am also happy to report that we expect to sign a dealership
agreement with a U.S.-based equipment manufacturer. This dealership agreement will increase the depth
of our product line and provide a more cost-effect solution for our potential
customers in Africa. We are pushing to make this happen within the next three
to four weeks, added Hamre.”
To view balance sheet and income statement, please follow directions to open attached PDF.