AmeraMex International, Inc. Reports Unaudited Earnings Results for the Second Quarter and Six Months Ended June 30, 2012; Jeffery Knott Resigns as CFO
August 22, 2012 at 07:30 pm IST
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AmeraMex International, Inc. reported unaudited earnings results for the second quarter and six months ended June 30, 2012. The company reported revenue of $1,277,761, a 12.6% increase, when compared to revenue of $1,134,319 reported for the second quarter of 2011. Net income for the quarter was $417,240, an increase of 221% compared to net income of $129,834 for the second quarter of 2011. Net income from operations was $431,973 against $139,917 for the same period last year.
Revenue for the six-month period was $1,991,439, down 14% when compared to revenue of $2,316,510 reported for the comparable six-month period of 2011. For the six-month period ending June 2012, net income was $20,219, compared with a net income of $132,071 for the comparable six-month period in 2011. The downturn in net income was due to certain adjustments made to financial statements for the period ended March 31, 2012. Net income from operations was $53,178 against $160,489 for the same period last year.
The company also announced the resignation of CFO Jeffery Knott. AmeraMex has a search underway to replace Knott who resigned for personal reasons. The accounting firm of Newton and Associates will assist the company's in-house accounting staff until the position is filled.
AmeraMex International, Inc. is a provider of heavy equipment for logistics companies, infrastructure construction and forestry conservation. The Company sells, leases, and rents heavy equipment to companies within multiple industries including construction, logistics, mining, and lumber. It maintains a complete maintenance organization, which includes a large parts inventory and service department with certified service techs, along with a steam cleaning service, and paint shop for refurbishing equipment. The Company sells, leases and rents a variety of new and refurbished heavy equipment to companies in the United States, Africa, Canada, Central America and Mexico. It also sells parts and provides repair and maintenance services directly to customers at its Northern California location. It acquires used equipment for resale through trade-ins from its customers, returned customer leases, and selective purchases. It serves rental companies, retailers, warehouses, and food distribution.
AmeraMex International, Inc. Reports Unaudited Earnings Results for the Second Quarter and Six Months Ended June 30, 2012; Jeffery Knott Resigns as CFO
AMERAMEX INTERNATIONAL, INC. 
