Business
DGAP-News: AmeraMex International Reports Revenue of $24.7 million for the Year Ended December 31, 2021
DGAP-News: AmeraMex International Reports Revenue of $24.7 million for the Year Ended December 31, 2021.
About this update from Ameramex International Inc.
[{"type":"text","content":"\n\n\n\n\nDGAP-News: Ameramex International\n\n\n\n\n\n\nAmeraMex International Reports Revenue of $24.7 million for the Year Ended December 31, 2021 \n\n\n\n\n\n\n31.03.2022 / 14:15 \n\n\n\nThe issuer is solely responsible for the content of this announcement.\n\nAmeraMex International, Inc. (OTC:AMMX), a provider of heavy equipment for logistics companies, infrastructure construction, and forestry conservation, reported financial results for its year ended December 31, 2021. AmeraMex CEO Lee Hamre commented, 'Last year was an excellent year for AmeraMex. Over the course of the last twelve months, we have enjoyed significant revenue growth and a much-improved bottom line. The new policies and procedures have not only increased our profitability but have allowed us to eliminate debt and clean-up our balance sheet. 'We are just tying up the first quarter and have reported sales of approximately $6.8 million. It is important to note that sales do not convert into revenue until the equipment is shipped to the customer. We expect to announce first quarter results for the quarter ended March 31, 2022 by mid-May if not before. We are off to a good start and expect to report another outstanding year.'Statement of Operations for the Year Ended December 31, 2021The company reported revenue of approximately $24.7 million, a 101 percent increase when compared to revenue of approximately $12.3 million for the year ended December 31, 2020. The first six months of revenue for 2020 was adversely affected by the COVID pandemic. Sales increased significantly during the last six months of 2020.Gross profit for the year was $5 million, a significant increase when compared to gross profit of $1.8 million for the 2020 year-end. Gross profit margins for 2021 were affected by a $4.5 million shipment of new equipment carrying three percent margins. Sales of new equipment are important to the Company as the customer's replacement equipment can be purchased inexpensively and refurbished for resale to other customers. Refurbished equipment carries much higher profit margins.Gross profit as a percentage of sales, was 20 percent for the year compared to gross profit as a percentage of sales of 14 percent to the 2020 year-end, a 30 percent increase. The Company reported net profit from operations of $3.2 million for the year, a substantial increase when comp...