American International Industries, Inc. Annual Report: Year Ended December 31, 2011

April 3, 2012

American International Industries, Inc (OTCQB: AMIN.OB) reported revenues for its year ended December 31, 2011 fell 7.5% to $21.73 million compared to revenues of $23.49 million for the prior year.  Revenues in 2011 were negatively impacted by a 27.9% drop in revenues at the company’s Northeastern Plastics segment caused by decreased sales to a principal customer.  The negative results at Northeastern Plastics was partially offset by a 25.2% increase at the company’s Delta Seaboard Well Service segment due to more rigs being operational during 2011.

The company reported a net loss of $3.26 million or $(0.24) per share for 2011 versus net income of $57 thousand or $0.01 per share for 2010.  Earnings in 2011 were negatively impacted by much larger losses on the sale of trading securities and the absence of income on the disposal of discontinued operations that was recognized in 2010.

As of December 31, 2011, the balance sheet reflected current assets of $16.09 million, total assets of $20.87 million, current liabilities of $6.92 million and total liabilities of $8.4 million.  During 2011, stockholders’ equity decreased 9.2% to $12.46 million.

American International Industries, Inc. is a diversified holding company with interests in industrial companies, oil and gas interests, oilfield supply and service companies, and interests in undeveloped real estate in the Houston, Texas area.

Source: American International Industries, Inc.


Print Friendly

Previous post:

Next post: