SOURCE: AmeraMex International

November 11, 2009 10:00 ET

AmeraMex International Provides Third Quarter Financial Update

Progress in Africa Expected to Change the Playing Field for AmeraMex

CHICO, CA--(Marketwire - November 11, 2009) - AmeraMex International, Inc. (PINKSHEETS: AMMX), a provider of heavy equipment to the stevedoring industry (shipping and logistics), infrastructure and commercial construction, today reported financial results for its third quarter and nine-month period ended September 30, 2009.

"The downturn in the U.S. economy over the past nine months has had a negative impact on our U.S. customer base, which in turn has reduced our revenue to levels not seen since 2002," said AmeraMex CEO Lee Hamre. "We are beginning to build a substantial proposal pipeline from our port customers, as they must purchase new container handlers that meet mandatory EPA Tier III compliance. When our port customers acquire new equipment, we and our new partner, Cromer Equipment, have an opportunity to purchase and refurbish the non-compliant equipment for resale out of the country. We recently purchased used port equipment for refurbishment with a resale value of approximately $1 to $1.5 million."

Hamre continued, "The progress being made in North Africa is beginning to generate revenue and a potential pipeline of business that can change the playing field for AmeraMex. I'll be in Africa for the next 14 days and expect to provide our shareholders with a positive update upon my return."

For the third quarter ended September 30, 2009, the company reported revenue of $635,344 and a net loss of ($315,652), or a loss per share of ($.0.001). EBITDA for the quarter was ($244,567). EBITDA, earnings before interest, taxes, deprecation and amortization, is an accepted industry tool to measure the fundamentals of growth companies.

For the nine-month period ended September 30, 2009, the company reported revenue of approximately $7.4 million, with a net loss of ($396,077), or a net loss per share of ($0.001). EBITDA for the period was ($124,909).

Tables follow

                          AmeraMex International, Inc.
                       CONDENSED STATEMENT OF OPERATIONS
                                   (UNAUDITED)

                                              Third Quarter   Nine Months
                                                  Ended          Ended
                                              September 30,  September 30,
                                                  2009           2009
                                              -------------  -------------
REVENUE
                        Total Revenue               635,344      7,384,411

COST OF SALES
                        Total Cost of Sales         593,946      6,719,258

GROSS MARGIN                                         41,399        665,153

OPERATING EXPENSE
            SG&A                                    282,966        790,063
            Depreciation                            105,193        315,579
                                              -------------  -------------
                        Total Operating
                         Expense                    388,159      1,105,642

OPERATING INCOME (LOSS)                            (346,760)      (440,488)

OTHER INCOME AND EXPENSE
            Interest                                (18,794)       (75,344)
            Miscellaneous                            49,902         63,421
            Tax Credit                                    -         56,334
                                              -------------  -------------
                        Total Other Income
                         (Expense)                   31,108         44,411

                                              -------------  -------------
NET INCOME (LOSS)                                  (315,652)      (396,077)
                                              =============  =============

                                              =============  =============
Basic Earnings (Loss) Per Share               ($      0.001) ($      0.001)
                                              =============  =============
Weighted Average Shares Outstanding             272,000,000    272,000,000
                                              =============  =============
Diluted  Earnings (Loss) Per Share            ($      0.001) ($      0.001)
                                              =============  =============

                                              =============  =============





            AmeraMex International, Inc.
   UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

  For the Three-Month Period Ended September 30, 2009


ASSETS
    Current Assets
        Cash                                     5,460
        Accounts Receivable                    276,911
        Inventory                            1,084,618
        Other Current Assets                   580,503
                                            ----------
            Total Current Assets             1,947,492
    Non Current Assets
        Investments                            166,945
        Trucks & Trailers                    1,560,137
        Other Vehicles                         280,469
        Fixtures & Equipment                   275,366
        Leasehold Improvements                 279,626

        Less: Accum Depreciation            (1,939,890)
                                            ----------
            Total Non Current Assets           622,653

    TOTAL ASSETS                             2,570,144

LIABILITIES
    Current Liabilities
        Accounts Payable                       938,157
        Taxes Payable                          345,220
        Other Current Payables                 179,118
                                            ----------
            Total Current Liabilities        1,462,494
    Non Current Liabilities
        Notes Payable                        1,406,757

    TOTAL LIABILITIES                        2,869,252

EQUITY
        Capital Stock                          204,025
        Additional Paid in Capital           1,974,104
        Retained Earnings (Prior)           (2,081,159)
        Retained Earnings (Current)           (396,077)
                                            ----------
    TOTAL EQUITY                              (299,107)

    TOTAL LIABILITIES & EQUITY               2,570,144

About AmeraMex International

AmeraMex International sells, leases, and rents heavy equipment to companies within four industries: construction (light and infrastructure), shipping, mining and logging. AmeraMex's largest product line is specialized container handling equipment that enables stevedoring companies to quickly and efficiently load and offload container and general freight ships dockside. AmeraMex, with customers in North America, South America, Asia, and Eastern Europe, has over 30 years of experience in heavy equipment sales and service and inventories top-of-the-line equipment from manufacturers such as Taylor Machine Works Inc. and Terex Heavy Equipment. For more information visit the AmeraMex website, www.AMMX.net.

Safe Harbor Statement

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and as such, may involve risks and uncertainties. Forward-looking statements, which are based on certain assumptions and describe future plans, strategies, and expectations, are generally identifiable by the use of words such as "believe," "expect," "intend," "anticipate," "estimate," "project," or similar expressions. These forward-looking statements relate to, among other things, expectations of the business environment in which the Company operates, projections of future performance, potential future performance, perceived opportunities in the market, and statements regarding the Company's mission and vision. The Company's actual results, performance, and achievements may differ materially from the results, performance, and achievements expressed or implied in such forward-looking statements.

Contact Information

  • Media and Financial Contact:
    Marty Tullio
    McCloud Communications LLC
    949.553.9748
    Email Contact