AmeraMex International, a provider of heavy equipment to infrastructure, shipping, logging and construction companies, reported financial results for its financial year ended December 31, 2016.

In 2016, the company reported revenue of approximately $10.1 million compared to revenue of approximately $8.1 million for 2015, marking a 24% increase.

In addition, AmeraMex tallied a gross profit of $4.6 million in 2016 compared to gross profit of $4.0 million for the year ended December 31, 2015. That marked a 17% increase, while gross profit as a percentage of sales rose 6% over the previous year.

While revenue and gross profit rose, AmeraMex experienced a decrease in net income, earning $1.0 million in 2016 compared to $1.4 million in 2015. The decline was due to added expenses associated with becoming an SEC reporting company. This is the company’s sixth consecutive year of profitability.

AmeraMex’s current assets improved significantly with an approximate $1.0 million increase in inventory. Additionally, the company acquired two new heavy-haul transport tractor-trailers and a new service truck.