SOURCE: AmeraMex

August 19, 2010 14:03 ET

AmeraMex International Reports Second Quarter Financial Results

Company Maintains Sales Projections of $23 Million for 2010

CHICO, CA--(Marketwire - August 19, 2010) -  AmeraMex International, Inc. (PINKSHEETS: AMMX), a provider of heavy equipment to infrastructure, shipping, construction, and mining companies, today reported financial results for its second quarter ended June 30, 2010.

Second Quarter
The company reported revenue of $165,417 for the quarter with operating loss of ($27,774). The net loss for the quarter was ($99,324), or net loss per share of (0.0003)

Six-Month Period
Revenue for the six-month period ended June 30, 2010 was $1,761,688 with operating income of $197,576. The net loss for the period was ($183,048), or a loss per share of ($0.0006).

AmeraMex CEO Lee Hamre commented, "As anticipated, revenue for the quarter and the six-month period is down significantly when compared to revenue for the second quarter and six-month period of 2009, which was down when compared to 2008. The lack of infrastructure projects and economic difficulties facing our other markets in the U.S. are continuing to hamper sales but we are confident the investment of time and money made in fast growing African countries as well as the Americas will drive revenue to the 2008 level of $23 million by the end of the year. We also believe the projected revenue mix should result in a profitable bottom line." 

Tables follow:

 AmeraMex International, Inc.
CONDENSED STATEMENT OF OPERATIONS
(UNAUDITED)
   
    For the Three-month Period Ended June 30, 2010  
Revenue   $ 165,415  
         
Cost of Revenue     42,684  
         
Gross Profit   $ 122,731  
         
Expenses:        
         
  Sales, General and Administrative     122,177  
  Other     28,328  
Total Expenses     150,505  
         
Net Income (Loss) from Operations     (27,774 )
         
Other Expenses and Income        
  Interest     21,021  
  Depreciation     47,234  
  Income Tax Provision     -  
  Other     3,300  
         
Total Other Income & Expense     71,549  
         
Net Income (Loss)   $ (99,323 )
         
Basic Earnings (Loss) Per Share   $ 0.0003  
  Weighted Average Shares Outstanding     310,000,000  
         
Diluted Earnings (Loss) Per Share   $ 0 .0003  
         
         
 
 AmeraMex International, Inc.
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
 
   
      For the Six-Month Period Ended June 30, 2010   
ASSETS        
         
CURRENT ASSETS:        
  Cash and Cash Equivalents   $ 21,787  
  Accounts Receivable     411,129  
  Note Receivable     403,793  
  Inventories     711,450  
  Other Current Assets     34,911  
         
Total Current Assets     1,583,069  
         
Fixed Assets     607,873  
         
TOTAL ASSETS   $ 2,190,942  
         
LIABILITIES AND STOCKHOLDERS' EQUITY        
         
CURRENT LIABILITIES        
  Accounts Payable   $ 753,339  
  Taxes Payable     388,673  
  Other Current Payables     126,875  
         
Total Current Liabilities     1,268,886  
         
Total Long Term Liabilities     1,458,823  
         
Total Liabilities     2,727,709  
         
STOCKHOLDERS' EQUITY        
         
  Capital Stock     204,025  
  Paid-In Capital     1,974,104  
  Prior Period Adjustment     70,426  
  Retained Earnings (Loss)     (2,594,774 )
  Retained Earnings Current Year     (183,048 )
         
Total Stockholders' Equity     (529,268 )
         
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY   $ 2,190,942  

About AmeraMex International
AmeraMex International carries a large inventory of heavy equipment, which it sells, leases, and rents to a variety of industries, including the stevedoring, heavy construction, light construction, logging and mining industries. AmeraMex's largest product line is specialized container handling equipment for stevedoring companies that load and offload ships -- from container ships to cruise lines and fishing fleets. AmeraMex has over 30 years of experience in heavy equipment sales and service and carries top-of-the-line equipment from manufacturers such as Taylor Machine Works Inc., Terex Heavy Equipment, and Barko Hydraulics.

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