Business
AmeraMex International Reports Revenue for Second Quarter and Six-Month Period Ended June 30, 2020
AmeraMex International Reports Revenue for Second Quarter and Six-Month Period Ended June 30, 2020.
About this update from Ameramex International Inc.
[{"type":"text","content":"CHICO, CA / ACCESSWIRE / August 10, 2020 / AmeraMex International, Inc. (OTCQB:AMMX), a provider of heavy equipment for logistics companies, infrastructure construction, and forestry conservation, reports revenue for its second quarter and six-month period ending June 30, 2020.The Company's revenue for the second quarter and six-month period was negatively affected by COVID-19 restraints as was that of its customers. The first month of the third quarter has already experienced a revenue turnaround. For the month of July through August 4, the Company reported sales in excess of $2.2 million. Based on potential order backlog and activity, AmeraMex management strongly believes that the second six months of 2020 will be outstanding.Second Quarter Ended June 30, 2020 The company reported revenue of $1,782,658 compared to revenue of $5,473,041 for the second quarter of 2019. This represents a 67 percent decrease when compared to the second quarter of 2019.Gross profit for the quarter was $430,288 compared to gross profit of $605,604 for the second quarter of 2019. Gross profit as a percentage of revenue was 24 percent compared to 11 percent for the second quarter of 2019.The net loss for the quarter was $(439,840) compared to net income of $24,032 for the second quarter of 2019. This loss is attributed, in part, to a one-time operating expense of $428,700.Six-Month Period Ended June 30, 2020Revenue for the six-month period was $3,221,154, a 59 percent decrease when compared to revenue of $7,916,933 reported for the comparable six-month period of 2019.Gross profit for the six-month period was $874,499 compared to gross profit of $1,247 ,674 for the six-month period of 2019. Gross profit as a percentage of revenue was 27 percent for the six-month period compared to 15 percent for the six-month period of 2019.The net loss for the six-month period was $(567,919) compared to a net loss of $(258,586) reported for the comparable six-month period of 2019.AmeraMex's CFO, Hope Stone, presented at the OTC Markets Online OTCQB Venture Company Investor Conference on August 6, 2020. A replay of Stone's presentation is available, via registration, on the OTCMarkets.com website.As a reminder, the public is invited to participate today in the Company's second quarter conference call at 11:00 a.m. PT, 2:00 p.m. ET. The conference call d...