CHICO, Calif., March 18, 2019 (GLOBE NEWSWIRE) -- In a release issued under the same headline earlier today by AmeraMex International, Inc., please note that in the "Net Income" paragraph of the release, the text should read "net income of $.843 million for the year ended December 31, 2017" instead of "net loss of $.843 million for the year ended December 31, 2017". The corrected segment follows:
AmeraMex International, Inc. (AMMX, Financial), a provider of heavy equipment for logistics companies, infrastructure construction, forestry conservation and tactical military vehicles, reports results for its financial year ended December 31, 2018.
Highlights for the Year Ended December 31, 2018:
Revenue
The Company reported revenue of approximately $10.1 million compared to revenue of approximately $8.7 million for the year ended
December 31, 2017. This is a 16 percent increase
Gross Profit
The Company reported gross profit of $5.1 million compared to gross profit of $4.1 million for the year ended December 31, 2017. This is a 24 percent increase. Gross profit as a percentage of sales rose to 50 percent.
Net Income - Correction
The Company reported net income for the year of approximately $1.4 million compared to net income of $.843 million for the year ended December 31, 2017. This is a 67 percent increase.
Balance Sheet
Total assets were reduced by approximately $.806 million due in part to decreased cash and cash equivalents, inventory and accounts receivable. Total liabilities for the year decreased $2 million due in part to a reduction in deferred revenue and accounts payable.
Shareholder Conference Call
AmeraMex International is hosting a shareholder conference call March 18 at 8:00 a.m. Pacific Time. The conference call dial-in number for both U.S. and international callers is 1.201.689.8560. Please dial in to the conference center five minutes before the call begins and ask the operator for the AmeraMex conference call.
Except for the historical information contained herein, statements discussing sales or revenue projections are forward-looking and made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. These statements involve risks and uncertainties that could cause actual results to differ materially from any forward-looking statements made herein.
Investor and Media Relations
McCloud Communications, LLC
Marty Tullio, Managing Member
Office: 949.632.1900 or [email protected]
