AMERAMEX INTL INC (OTCMKTS:AMMX) has recently released its FY2014 and the company seems to be in a very healthy financial state. AMMX reported a 24% increase in revenue and a 46% increase in gross profit, compared to the previous year. The revenue moved up from $5.9 million in 2013 to $7.3 million in 2014. While, the gross profit moved from $2.4 million to $3.6 million for the same period. This helped the company’s net income to move up by 73% as well, from $0.46 million to $0.8 million. A large part of this rise has been attributed to a decrease in the cost of sales.
Apart from its financial state, the company has also been able to improve its liabilities in the FY2014. The liabilities of AMMX, decreased to $2.3 million from $3.3 million, registering a 30% decline. Ameramex deals in providing heavy machinery to core industries such as shipping, logging and infrastructure. The CEO of Ameramex, Lee Hamre, indicated that the industry has seen rapid growth in the recent years. His company aims to make use of this fact to increase their revenues further. He also indicated that revenues were not the only goal set out for his company this year; AMMX is also trying to improve on its balance sheet further.
Just a few days before this announcement, the company was also able to secure equipment orders from three clients, in North America, worth $450,000. The CEO of Ameramex had indicated this as a sign for shareholders that the company’s business is growing and the management is working hard to add more projects to their portfolio. He also released the details about his trip to Niger, where he met with different companies and bankers to discuss a new deal regarding the export of trucks from the company. Success with these deals and the improvement of its balance sheet would help the company move higher than its 52-week range.
AMERAMEX INTL INC (OTCMKTS:AMMX) closed at $0.017, gaining 26.87% on April 14. The company trades 388.68 million shares in the market, with a 52-week range of $0.00-$0.05.
