Business
AmeraMex International Announces 65 Percent Increase in Revenue for the Second Quarter and 29 Percent Increase in Revenue for the Six-Month Period Ended June 30, 2023
AmeraMex International Announces 65 Percent Increase in Revenue for the Second Quarter and 29 Percent Increase in Revenue for the Six-Month Period Ended June 30, 2023.
About this update from Ameramex International Inc.
[{"type":"text","content":"Chico, California--(Newsfile Corp. - August 16, 2024) - AmeraMex International, Inc. (OTC Pink: AMMX), a provider of heavy equipment for logistics companies, infrastructure construction, and forestry conservation, reported financial results for its second quarter and six-month period ended June 30, 2023.Statement of Operations for the Second Quarter Ended June 30, 2024The Company reported revenue of approximately $3.8 million versus revenue of $2.3 million for the comparable 2023 quarter. Revenue increased approximately 65 percent over the comparable quarter of 2023. Gross profit for the quarter was $2.6 million, a significant increase when compared to a gross profit of $713,302 for the comparable 2023 quarter. Profit is affected by sales versus leases/rentals of equipment and mix of equipment.Gross profit as a percentage of sales was 68 percent for the quarter compared to gross profit as a percentage of sales of 31 percent for the comparable 2023 quarter. The significant increase in profit margins is due in part to product mix. Profit from operations was $2.0 million compared to a loss of ($102,577) for the comparable 2023 quarter.Net income for the quarter was $1.0 million compared to a net loss of ($116,602) for the comparable 2023 quarter. Earnings per share were $0.07 for the quarter compared to a loss per share of ($0.01) for the comparable 2023 quarter. This is due in part to a decrease in both interest and selling expenses.Statement of Operations for the Six-Month period June 30, 2024The company reported revenue for the six-month period of $7.1 million versus revenue of $5.1 million for the comparable 2023 six-month period. This is a 29 percent increase.Gross profit for the period increased 60 percent to $2.4 million when compared to gross profit of $1.5 million for the comparable 2023 period. Gross profit as a percentage of sales was 34 percent for the period compared to gross profit as a percentage of sales of 27 percent for the comparable 2023 period. Profit from operations was $1.5 million compared to $240,200 for the comparable 2023 six-month period.Net income for the period was $587,989 compared to net loss of ($15,499) for the comparable period. Earnings per share were $0.04 for the period compared to $0.00 for the comparable 2023 period. Balance Sheet for the Period Ended June 30, 2024 Current Assets increased by...