AmeriResource Reports 119% Revenue Increase for the Second Quarter AmeriResource Technologies, Inc. (OTCBB: AMRE), a diversified holding company, announced today that it has filed its financial statements for the second quarter ended June 30, 2007 when gross revenues more than doubled, reporting a 119% gross revenue increase over the same quarter for last year.
"For the second quarter, AmeriResource gross revenues increased to $453,841, a 119% increase over gross revenue of $206,880 for the same quarter in fiscal year 2006. We are pleased with the triple digit revenue growth for this quarter, and expect to report strong revenues for the third and fourth quarters as well," noted Delmar Janovec, CEO of AmeriResource.
The company also noted that gross revenues for the six months ended June 30, 2007, nearly tripled, increasing 193% to $925,194, as compared to $315,098 for the same period in fiscal year 2006.
"As we move forward, management will continue to work diligently to grow revenues and improve margins. While the company has not achieved profitability, we have seen strong revenue growth and will continue working hard to improve the operations of our subsidiaries," Janovec concluded.
To review the second quarter financial statements on file with the Securities and Exchange Commission, please visit www.sec.gov.
ABOUT AMERIRESOURCE TECHNOLOGIES, INC.
AmeriResource is a diversified holding company with headquarters in Las Vegas, Nevada. Among others, it operates BizAuctions, Inc., AuctionWagon Inc., and RoboServer Systems Corp. as subsidiaries. For more information on the Company and its subsidiaries, please see the Company's website at http://www.ameriresourcetechnologies.com.
The information contained in this press release may include forward-looking statements. Forward-looking statements usually contain the words "estimate," "anticipate," "believe," "expect," or similar expressions that involve risks and uncertainties. These risks and uncertainties include the Company's uncertain profitability, need for significant capital, uncertainty concerning market acceptance of its products, competition, limited service and manufacturing facilities, dependence on technological developments and protection of its intellectual property. The Company's actual results could differ materially from those discussed herein. Factors that could cause or contribute to such differences are discussed more fully in the "Risk Factors," "Management's Discussion and Analysis or Plan of Operation" and other sections of the Company's Form 10-KSB and other publicly available information regarding the Company on file with the Securities and Exchange Commission, at www.sec.gov. The Company will provide you with copies of this information upon request.