AEM reported a net operating surplus of $297,000 for 2016, exceeding budget of $110,000 by $187,000.
Expositions produced a net operating surplus of almost $7 million, helping sustain the overall loss from member programs and services of ($7.9 million). By design, AEM’s expositions finance the cost of its programs and services.
Revenues from CONEXPO-CON/AGG 2017 fueled the positive net results by contributing an additional $987,000 compared to budget. AEM’s joint venture shows also contributed a favorable $235,000 in 2016.
Savings in general & administrative expenses of $364,000 more than offset the overage in personnel costs of ($249,000).
Other notes: The REACH program was discontinued in July at the direction of the AEM Board of Directors. The program had approximately $110,000 in direct expenses in 2016. Amortization expenses of $394,000 were written off.