SOURCE: AmeraMex International

AmeraMex International

May 17, 2013 10:56 ET

AmeraMex International Reports Improved Gross Profit Margins for the First Quarter

CHICO, CA--(Marketwired - May 17, 2013) - AmeraMex International, Inc. (PINKSHEETS: AMMX), a provider of heavy equipment to infrastructure, shipping, construction and farming companies, today reported financial results for its first quarter ended March 31, 2013.

The company reported revenue of approximately $503,894 with gross profit of $302,755 compared to revenue of approximately $713,676 with gross profit of $232,541 for the comparable quarter ended March 31, 2012.

Gross profit margins, as a percentage of revenue, were 60 percent, a significant increase when compared to gross profit margins of 33 percent for the comparable 2012 quarter. Continued improvement of margins is due in part to product mix and the company's trucking operation.

The company reported a net loss for the year of ($119,424) compared to net loss of ($391,709) for the first quarter ended March 31, 2012. This is due in part to a decrease in total expenses and depreciation as the inventory of equipment was sold or fully depreciated.

During the year-end conference call management stated, "We expected to have letters of intent from companies to purchase crude oil/fuel no later than the middle of May." Management is in contact with these companies daily and expects to provide an update in the near future.

AmeraMex partners in Africa indicated to management that they expected several infrastructure projects to be finalized by the end of April. AmeraMex CEO Lee Hamre commented, "It is now May and these projects are taking longer than our partners project but several are in final negations. We are in communications with the partner companies working on the funding of the projects. Best estimate for approved funding is now in the third quarter of 2013. We are currently awaiting final notification of funding approval for one of the projects located in Niger. This project is large enough to get everything in Africa kicked off. Once complete, funding for other projects will be much easier."

   
AmeraMex International, Inc  
Consolidated Income Statement  
(Unaudited)  
             
    3 Months Ended     3 Months Ended  
    March 31, 2012     March 31, 2013  
             
Sales   713,676     503,894  
             
Cost of Sales   481,135     201,139  
             
Gross Profit   232,541     302,755  
             
Expenses            
  Operating   501,427     323,504  
  SG&A   105,304     93,204  
Total Expenses   606,731     416,708  
             
Net Income from Operations   (374,190 )   (113,953 )
             
Other Income, Expense, Depreciation   (16,690 )   (5,471 )
             
Income Tax Provision   829     -  
             
Net Income (Loss)   (391,709 )   (119,424 )
             
 
 
AmeraMex International, Inc.
Condensed Consolidated Balance Sheet
as of March 31, 2013
Unaudited
ASSETS      
  Current Assets:      
  Cash & Equivalent     -1,754
  Note Rec.     8,500
  Acct. Receivable     110,414
  Inventory     542,188
        Total Current Asset     659,348
         
  Fixed Asset Net     57,189
  Other Asset     111,892
        Total Asset   $ 828,429
       
       
LIABILITIES AND STOCKHOLDERS EQUITY      
       
  Current Liability      
  Acct. Payable     824,600
  Taxes Payable     97,750
  Other     183,952
        Total Current Liabilities     1,106,302
         
        Total Long Term Liabilities     1,020,904
       
        Total Liability   $ 2,127,206
       
       
STOCKHOLDERS EQUITY      
       
  Capital Stock     -35,975
  Paid-In Capital     1,688,914
  Retained Earning (Loss)     -2,832,292
  Retained Earning Current Year     -119,424
        Total Stock Equity     -1,298,777
       
       
TOTAL LIABILITY & STOCKHOLDER EQUITY   $ 828,429
       
        Total 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:
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