Gross profits for the quarter increased 96 percent

CHICO, Calif. - 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.”