AEM closes out 2016 ahead of budgetAEM 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.