AmeraMex reported Q1/18 revenue of approximately $2 million, which marked a 33% increase from the $1.15 million reported in Q1/17. AmeraMex also noted gross profit for the first quarter was approximately $1.3 million compared to gross profit of $689,000 for the quarter ended March 31, 2017, an increase of 96%.
Net income for the quarter was $529,216 compared to net income of $2,329 for the first quarter ended March 31, 2017. Year-to-date, AmeraMex has received $7.6 million in equipment orders and renewal of rental contracts. This compares to $2.8 million in equipment orders and rental agreements for the same time period in 2017.
“Last year we announced our agreement with Oshkosh Defense, LLC. It has taken time to become familiar with the line tactical vehicles and determine decision makers within our target markets as political teams can rapidly change,” said AmeraMex CEO Lee Hamre. “We extended invitations to potential customers and now have visits and demonstrations scheduled at the Oshkosh facility. We continue to believe our agreement with Oshkosh Defense, LLC, is a catalyst for international sales growth.”
Last week, AmeraMex received three equipment orders totaling approximately $800,000. Those orders consisted of four loaded container handlers shipping to a customer in the Northwest, a Taylor forklift fitted with a hydraulic hay squeezer capable of carrying up to four tons of hay for a California customer and ASV construction equipment for a West Coast customer.
AmeraMex sells, leases and rents heavy equipment to companies within multiple industries including construction, logistics, mining and lumber.
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