SOURCE: AmeraMex International

AmeraMex International

April 13, 2015 13:53 ET

AmeraMex International Reports 2014 Year-End Financials: Revenue Increased 24 Percent, Gross Profit Increased 46 Percent and Net Income Increased 73 Percent

CHICO, CA--(Marketwired - Apr 13, 2015) - AmeraMex International, Inc. (OTC PINK: AMMX), a provider of heavy equipment to infrastructure, shipping, logging and construction companies, today reported financial results for its financial year ended December 31, 2014.

Highlights for the Year Ended December 31, 2014

Revenue for 2014 Increased 24 Percent; Gross Profit Increased 46 Percent
The company reported revenue of approximately $7.3 million with gross profit of $3.6 million compared to revenue of approximately $5.9 million with gross profit of $2.4 million for the year ended December 31, 2013.

Net Income Increased 73 Percent
The company reported a net income for the year of approximately $.801 million compared to net income of $.463 million for the year ended December 31, 2013. This is due in part to a significant decrease in cost of sales. 

Stronger Balance Sheet

  • Total Liabilities decreased by 30 percent from approximately $3.3 million in 2013 to approximately $2.3 million in 2014.

AmeraMex CEO Lee Hamre commented, "We are continuing to increase our revenue while improving our cost of goods sold thanks to sustained growth in our core business, which includes refurbished equipment. We are working diligently on our pipeline of business in Africa and anticipate closing our first large order in the near future. While sustaining revenue growth is a necessity, it is equally important that we present a strong balance sheet to shareholders and potential customers. With that said, we were able to decrease our Accounts Payable by almost a million dollars in 2014 and our overall Total Liabilities by 30 percent."

Hamre continued, "I have just returned from Niger and expect to provide an update regarding our trip during the Shareholder Conference Call scheduled April 21st at 11:00 a.m. PT and 2:00 p.m. ET." 

 
AmeraMex International, Inc.
Condensed Consolidated Balance Sheet
December 31, 2014
(unaudited)
               
ASSETS
  Current Assets:              
  Cash & Equivalent   $ 163,614        
  Note Receivable     36,447        
  Accounts Receivable     585,991        
  Inventory     923,201        
    Total Current Assets   $ 1,709,253        
               
Fixed Asset Net     700,553        
Other Asset     145,608        
      Total Assets     $ 2,555,414
               
               
               
LIABILITIES AND STOCKHOLDERS EQUITY
               
  Current Liability              
  Acct. Payable   $ 783,086        
  Taxes Payable     157,265        
  Other     299,404        
    Total Current Liabilities   $ 1,239,754        
                   
    Total Long term Liabilities   $ 1,055,895        
               
      Total Liability     $ 2,295,650
               
               
STOCKHOLDERS EQUITY
               
  Capital Stock   $ 586,565        
  Paid-In Capital     1,241,035        
  Retained Earnings (Loss)     (2,369,294 )      
  Retained Earnings Current Year     801,458        
    Total Stock Equity     259,766        
               
TOTAL LIABILITY & STOCKHOLDER EQUITY     $ 2,555,414
               
Total Number of Shares Issued and Outstanding: 664.9 million              
               
   
AmeraMex International, Inc.  
Consolidated Income Statement  
(Unaudited)

 
   
    For the Period Ended December 31, 2013     For the Period Ended December 31, 2014  
                 
Sales   $ 5,863,948     $ 7,255,178  
                 
Cost of Sales     3,424,155       3,684,990  
                 
Gross Profit     2,439,793       3,570,188  
                 
Expenses:                
  Operating Expenses     2,126,407       2,901,372  
Total Expenses     2,126,407       2,901,372  
                 
Net Income (loss) from Operations    
313,386
     
668,816
 
                 
Other Income and Expenses                
  Income Tax Provision     800       -  
  Misc. Income     173,305       182,686  
  Depreciation     (22,490 )     (50,044 )
                 
Net Income (Loss)   $ 463,401     $ 801,458  
                 
Basic Earnings (Loss) Per Share    
0.000
     
0.000
 
Weighted Average Shares Outstanding    
520.1
     
664.9
 
                 
Diluted Earnings (Loss) Per Share    
0.000
     
0.001
 
                 
                 

About AmeraMex International
AmeraMex International sells, leases and rents heavy equipment to companies within four industries: construction (light and infrastructure), shipping logistics, mining and commercial farming. AmeraMex, with customers in the Americas, Africa, 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 or www.hamreequipment.com.

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.

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