Y-T-D sales total $25.0 million
CHICO, CA / ACCESSWIRE / November 2, 2021 / AmeraMex International, Inc. (OTCQB:AMMX), a provider of heavy equipment for logistics companies, infrastructure construction and forestry conservation, announced that it has received an equipment order totaling $1,005,000. Year-to-date, AmeraMex has announced sales of approximately $25 million.
AmeraMex has grown its revenue from $8.7 million in 2017 to estimated revenue of $23 million for 2021, a 25.5 percent Calculated Average Growth Rate (CAGR) which included the negative impact COVID-19 had on revenue the first six-nine months of 2020. The rapid growth in 2021 coupled with significantly increased overhead expenses, labor expenses, spare parts and used equipment costs along with subcontractor costs, has reduced gross profit margins. Management is reviewing equipment, spare parts, and service pricing for 2022 that is expected to move margins back to the 25-30 percent range while remaining competitive.
The new order consisted of Taylor XEC 207/8 Empty Container Handlers. The equipment is expected to ship before the end of 2021 to a logistics company in Southern California.
The Taylor XEC-207/8 Dedicated Empty Container Handler has a 20,000-lb capacity and is designed to handle 8.5 foot containers stacked up to 8 high and 9.5 foot containers stacked up to seven high. The handler features a heavy-duty Taylor designed side-pick spreader, 180-inch wheelbase, 225 HP Tier 4 Final diesel engine, and end-user diagnostics.
For more information and pricing of logistics, construction, and forestry equipment or to receive information and arrange for a demonstration of the Kovaco Electric's 100 percent electric skid steer loaders or the line of ASV Posti-Tract and Skid Steer Loaders, contact the AmeraMex/Hamre Equipment sales team at 530.895.8955.
This press release contains forward-looking statements. All statements other than statements of historical facts included in this press release are forward-looking statements. In some cases, forward-looking statements can be identified by words such as "believe," "expect," "anticipate," "plan," "potential," "continue" or similar expressions. Such forward-looking statements include risks and uncertainties, and there are key factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Investors are encouraged to review the Company's filings with the Securities and Exchange Commission. Investors should not place any undue reliance on forward-looking statements since they involve known and unknown, uncertainties and other factors which are, in some cases, beyond the Company's control which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects the Company's current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to operations, results of operations, growth strategy and liquidity. The Company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if added information becomes available in the future.
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SOURCE: AmeraMex International, Inc.
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