For Immediate Release
Media and Financial Contact:
Marty Tullio, McCloud Communications LLC
Phone: 949.632.1900 or email@example.com
AmeraMex International Reports Third Quarter Revenue of $1.3 Million and Revenue for the Nine-Month Period of $7.1 Million
Shareholder Conference Call Friday, November 15 at 11:00 p.m. PT
CHICO, CA – November 15, 2016 – AmeraMex International, Inc. (OTC:AMMX), a provider of heavy equipment to infrastructure, shipping, construction and farming companies, today reported financial results for its third quarter and nine-month period, ended September 30, 2016.
Third Quarter Ended September 30, 2016
· Revenue down 24 percent
· Gross profit down 13 percent
· Net loss for the quarter
The company reported revenue of approximately $1.3 million compared to revenue of approximately $1.7 million for the third quarter of 2015. Gross profit for the quarter was approximately $.548 million compared to gross profit of $.632 million for the third quarter of 2015.
The company reported net loss for the quarter of ($.152) million compared to net income of $.102 million for the 2015 quarter. The loss was due in part to an increase of approximately $200,000 in operating expenses pertaining to the initial SEC audit, employee health insurance and increased depreciation.
Nine-Month Period Ended September 30, 2016
· Revenue increases 82 percent
· Gross profit increases 110 percent
· Net income increases 60 percent
Revenue for the nine-month period was approximately $7.1 million compared to revenue of $3.9 million for the comparable 2015 period. Gross profit for the period was approximately $4.2 million compared to gross profit of $2.0 million for the nine-month period of 2015.
The company reported net income of approximately $1.2 million for the period compared to net income of approximately $.343 million for the comparable period in 2015.
The shareholder conference call, chaired by AmeraMex CEO Lee Hamre, is scheduled for Tuesday, November 15, 2016 at 11:00 a.m. Pacific Time, 2:00 p.m. Eastern Time.
The conference call dial-in number for both U.S. and international callers is 1.719.325.2228 and the conference call ID is 5769599. An audio replay of the conference call will be available from November 15, 2016 at 5:00 p.m. Eastern until November 29, 2016 at 11:59 a.m. Eastern. The replay can be accessed by dialing 1.844.512.2921 and entering conference pin number 5769599.
To view the financial tables, please open the attached PDF.