SOURCE: AmeraMex International

AmeraMex International

November 28, 2012 12:02 ET

AmeraMex International Reports Financial Results for Third Quarter and Nine-Month Period

CHICO, CA--(Marketwire - Nov 28, 2012) -  AmeraMex International, Inc. (PINKSHEETS: AMMX), a provider of heavy equipment to infrastructure, shipping, construction and farming companies, today reported financial results for its third quarter and nine-month period, ended September 30, 2012.

Highlights for the quarter:

  • The company's first SEC compliant audit is on target to be completed with the first audited annual report scheduled for submission to the SEC by March 30, 2012.
  • The company is interviewing CFO candidates and has retained a financial consultant until the position is filled.
  • A conference call to update shareholders and members of the financial community is scheduled Monday, December 10, 2012. A separate news release containing dial-in information will be disseminated later this week.

Third Quarter, Ended September 30, 2012
The company reported revenue of approximately $.513 million with gross profit of $.487 million compared to revenue of approximately $1.2 million with gross profit of $.633 million for the third quarter of 2011.

Gross profit margins, as a percentage of revenue, were 95 percent, a significant increase when compared to gross profit margins of 55 percent for the comparable quarter in 2011. Improved margins are due in part to product mix and the company's trucking operation.

The company reported a net loss for the quarter of $.150 million compared to net income of $.038 million for the third quarter of 2011. This is due in part to increased operating expenses incurred from refurbishing a large number of port container handling trucks that that have yet to be sold.

Nine-Month Period Ended September 30, 2012
Revenue for the nine-month period was approximately $2.5 million compared to revenue of $3.5 million for the comparable 2011 period. The company reported a net loss of $.129 million for the period, versus net income of $.170 million for the comparable period in 2011.

Gross profit for the period was approximately $1.7 million compared to $1.6 million for the 2011 nine-month period. Profit margins as a percentage of revenue were 66 percent, a significant improvement when compared to profit margins of 46 percent for the 2011 nine-month period.

AmeraMex CEO Lee Hamre commented, "We fully anticipated announcing a number of meaningful contracts this quarter and are continuing to pursue these opportunities. We do, however, expect to finish the year with a strong fourth quarter. We are also continuing to expand our prospective sales pipeline within our existing customer base as economies in many South American countries continue to grow. We look forward to discussing these opportunities with you during our upcoming conference call."

 
AmeraMex International, Inc. 
Condensed Statement of Operations 
(Unaudited) 
 
    9 months ended     3 months ended  
    9/30/2012     9/30/2011     9/30/2012     9/30/2011  
                                 
Sales   $ 2,504,169     $ 3,476,976     $ 512,730     $ 1,160,465  
Cost Of Sales   $ 848,235     $ 1,863,879     $ 26,103     $ 527,263  
Gross Profit   $ 1,655,934     $ 1,613,097     $ 486,627     $ 633,201  
Expenses                                
  Operating   $ 1,419,533     $ 1,051,913     $ 491,950     $ 455,730  
  SG&A   $ 300,252     $ 333,104     $ 111,706     $ 109,875  
Total Expenses:   $ 1,719,785     $ 1,385,017     $ 603,656     $ 565,605  
                                 
Net Income(Loss)                                
from Operations   $ (63,851 )   $ 228,080     $ (117,029 )   $ 67,596  
                                 
Other Income, Expense, Depreciation   $ (64,722 )   $ (46,462 )   $ (32,363 )   $ (19,642 )
                                 
Income Tax   $ 829     $ 11,600     $ 829     $ 10,000  
                                 
                                 
Net Income(Loss)   $ (129,402 )   $ 170,018     $ (150,221 )   $ 37,954  
                                 
Basic and Diluted Earnings (Loss) per Share   $ (0.000 )   $ 0.000     $ (0.000 )   $ 0.000  
                                 
Weighted Average Shares Outstanding     388,677,215       383,517,215       388,677,215       383,517,215  
                                 
                                 
 
AmeraMex International, Inc
Condensed Consolidated Balance Sheets
at September 30, 2012
(Unaudited)
 
ASSETS            
  Current Assets:            
  Cash & Equivalent   75,105        
  Note Rec.   457,257        
  Acct. Receivable   172,251        
  Inventory   463,661        
  Total Current Asset       1,168,275    
               
  Fixed Asset Net       97,726    
  Other Asset       137,669    
        235,395    
Total Asset           1,403,670
             
LIABILITIES AND STOCKHOLDERS EQUITY    
  Current Liability            
  Acct. Payable   708,547        
  Taxes Payable   123,193        
  Other   304,700        
               
  Total Current Liabilities       1,136,439    
               
  Total Long term Liabilities       1,005,847    
               
  Total Liabilities           2,142,287
             
STOCKHOLDERS EQUITY        
             
  Capital Stock   204,025        
  Paid-In Capital   1,981,603        
  Retained Earnings (Loss)   -2,794,844        
  Retained Earnings Current Year   -129,402        
               
  Total Stockholders' Equity       -738,618    
             
TOTAL LIABILITIES & STOCKHOLDERS EQUITY   1,403,670
             
Shares Issued and Outstanding           388,677,215
             
             

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 International'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 the Americas, Africa, Asia and Eastern Europe, has over 30 years of experience in heavy equipment sales and service and maintains an inventory of top-of-the-line equipment and parts 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
Except for the historical e historical information contained herein, the matters discussed are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. These statements involve risks and uncertainties that could cause actual results to differ materially from any forward-looking statements made herein.

Contact Information

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