AmeraMex International Reports 2014 Year-End Financials: Revenue Increased 24 Percent, Gross Profit Increased 46 Percent and Net Income Increased 73 Percent
(firmenpresse) - CHICO, CA -- (Marketwired) -- 04/13/15 -- (OTC PINK: AMMX), a provider of heavy equipment to infrastructure, shipping, logging and construction companies, today reported financial results for its financial year ended December 31, 2014.
The company reported revenue of approximately $7.3 million with gross profit of $3.6 million compared to revenue of approximately $5.9 million with gross profit of $2.4 million for the year ended December 31, 2013.
The company reported a net income for the year of approximately $.801 million compared to net income of $.463 million for the year ended December 31, 2013. This is due in part to a significant decrease in cost of sales.
Total Liabilities decreased by 30 percent from approximately $3.3 million in 2013 to approximately $2.3 million in 2014.
AmeraMex CEO Lee Hamre commented, "We are continuing to increase our revenue while improving our cost of goods sold thanks to sustained growth in our core business, which includes refurbished equipment. We are working diligently on our pipeline of business in Africa and anticipate closing our first large order in the near future. While sustaining revenue growth is a necessity, it is equally important that we present a strong balance sheet to shareholders and potential customers. With that said, we were able to decrease our Accounts Payable by almost a million dollars in 2014 and our overall Total Liabilities by 30 percent."
Hamre continued, "I have just returned from Niger and expect to provide an update regarding our trip during the Shareholder Conference Call scheduled April 21st at 11:00 a.m. PT and 2:00 p.m. ET."
AmeraMex International sells, leases and rents heavy equipment to companies within four industries: construction (light and infrastructure), shipping logistics, mining and commercial farming. AmeraMex, with customers in the Americas, Africa, Asia and Eastern Europe, has over 30 years of experience in heavy equipment sales and service and inventories top-of-the-line equipment from manufacturers such as Taylor Machine Works Inc. and Terex Heavy Equipment. For more information visit the AmeraMex website, or .
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and as such, may involve risks and uncertainties. Forward-looking statements, which are based on certain assumptions and describe future plans, strategies, and expectations, are generally identifiable by the use of words such as "believe," "expect," "intend," "anticipate," "estimate," "project," or similar expressions. These forward-looking statements relate to, among other things, expectations of the business environment in which the Company operates, projections of future performance, potential future performance, perceived opportunities in the market, and statements regarding the Company''s mission and vision. The Company''s actual results, performance, and achievements may differ materially from the results, performance, and achievements expressed or implied in such forward-looking statements.
McCloud Communications, LLC
Marty Tullio
Managing Member
Office: 949.632.1900
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Datum: 13.04.2015 - 11:53 Uhr
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News-ID 1350882
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