Business
AmeraMex International Reports Revenue of $13.4 Million for the Year Ended December 31, 2023
AmeraMex International Reports Revenue of $13.4 Million for the Year Ended December 31, 2023.
About this update from Ameramex International Inc.
[{"type":"text","content":"Chico, California--(Newsfile Corp. - April 18, 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 year ended December 31, 2023. Statement of Operations for the Year Ended December 31, 2023The company reported revenue of approximately $13.4 million, compared to revenue of approximately $19.3 million for the year ended December 31, 2022. Gross profit for the year was $2.1 million, compared to gross profit of $4.7 million for the 2022 year-end.Gross profit as a percentage of revenue was 16 percent for the year compared to gross profit, as a percentage of revenue, of 23 percent for the 2022 year-end. Net loss for the year was ($764,741) compared to net income of $1.0 million for the comparable 2022 year-end. Loss per share was ($0.05) compared to earnings per share of $0.06. Balance Sheet for the Year Ended December 31, 2023Total Assets for the year were $18.2 million compared to $13.3 million for the year ended December 31, 2022. This increase is due in part to an increase of $5.1 million in Net Inventory. Current Liabilities for the year were $14.6 million compared to $8.5 million for the year ended December 31, 2022. This increase is due in part to the Deferred Revenue of $2.1 million and an increase in the Company's line of credit of $4.6 million.Conference CallThe AmeraMex management team will be traveling for the next several days and a news release pertaining to the year ended 2023 conference call will be disseminated shortly.AmeraMex InternationalAmeraMex International sells, leases, and rents heavy equipment to companies within multiple industries including construction, logistics, mining, and lumber. Follow AmeraMex on Twitter @ammx_intl and visit the AmeraMex website, www.AMMX.net or www.hamreequipment.com for additional information and equipment videos.Forward-Looking StatementStatements made in this news release that are not historical or current facts are \"forward-looking statements\" made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933 (the \"Act\") and Section 21E of the Securities Exchange Act of 1934. These statements often can be identified using terms such as \"may,\" \"expect,\" \"believe,\" \"anticipate,\" \"estimate,\" \"appro...