SOURCE: AmeraMex International

AmeraMex International

August 12, 2013 10:56 ET

AmeraMex International Reports Net Income Increased 92 Percent for Six-Month Period Ending June 30, 2013

CHICO, CA--(Marketwired - Aug 12, 2013) -  AmeraMex International, Inc. (PINKSHEETS: AMMX), a provider of heavy equipment to infrastructure, shipping, construction, farming and mining companies, today reported financial results for its second quarter ended June 30, 2013. 

Second Quarter Ended June 30, 2013
The company reported revenue of $878,413 compared to revenue of $1,280,428 for the second quarter of 2012. Net income for the quarter was $272,218 compared to net income of $435,705 for the second quarter of 2012. Gross profit, as a percentage of sales, was 77 percent compared to 73 percent for the comparable 2012 period.

Six-Month Period
Revenue for the six-month period was $1,382,306 compared to revenue of $1,991,439 reported for the comparable six-month period of 2012. Gross profit margins, as a percentage of sales, increased 17 percent for the six-month period when compared to gross profit margins for the period ending June 2012. The company reported net income of $342,206, a 92 percent increase when compared to net income of $26,744 for the six-month period in 2012. 

AmeraMex CEO Lee Hamre commented, "With the end of Ramadan, the prime minister in North Africa said they will be aggressively working on the formation of the equipment contract we discussed in our July 9, 2013 press release. We look forward to receiving the contract and supplying the corresponding proposal as quickly as possible.

"We are also bidding on a variety of used equipment for refurbishment and resale into both the U.S., and international markets," continued Hamre. We expect notification pertaining to our recent $2 million bid to a West Coast port authority. This notification was delayed due to their vacation schedules."

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 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.

Tables follow:

   
   
AmeraMex International, Inc.  
CONDENSED STATEMENT OF OPERATIONS  
(UNAUDITED)  
   
 
For the
Three-month Period Ended
June 30, 2013
 
For the
Three-month Period Ended
June 30, 2012
   
For the
Six-month
Period Ended
June 30, 2013
 
For the
Six-month
Period Ended
June 30, 2012
 
Sales $
878,413
  $
1,280,428
    $
1,382,306
  $
1,991,439
 
Cost of Sales   199,725     341,070       400,814     822,132  
                           
Gross Profit   678,688     939,358       981,492     1,169,307  
                           
                           
Expenses:                          
  Operating   314,240     420,716       637,745     922,183  
  SG&A   92,230     82,937       183,690     186,592  
                           
Total Expenses   406,470     503,653       821,435     1,108,775  
                           
Net Income (loss) from Operations  
272,218
   
435,705
     
160,057
   
60,532
 
                           
  Other Income, Expense, Depreciation  
184,741
   
(14,958
)    
182,949
   
(32,959
)
                             
  Income Tax   800     -       800     829  
                             
  Net Income (Loss) $ 456,741   $ 420,747     $ 342,206   $ 26,744  
                             
  Basic Earnings (Loss) Per Share  
0
   
0
     
0
   
0
 
Weighted Average Shares Outstanding  
478,677,215
   
388,677,215
     
478,677,215
   
388,677,215
 
                           
Diluted Earnings (Loss) Per Share  
0
   
0
     
0
   
0
 
                           
                           
                           
AmeraMex International, Inc.
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
Second Quarter 2013
 
ASSETS  
    Current Assets:  
    Cash & Equivalent 227,973
    Note Rec. 8,500
    Accounts Receivable 109,669
    Inventory 572,461
      Total Current Asset 918,603
     
    Fixed Asset Net 51,718
    Other Asset 111,892
      Total Asset 1,082,213
   
   
LIABILITIES AND STOCKHOLDERS EQUITY
   
    Current Liability  
    Accounts Payable 740,605
    Taxes Payable 131,614
    Other 280,514
      Total Current Liabilities 1,152,733
         
      Total Long term Liabilities 766,625
         
      Total Liability 1,919,358
   
   
STOCKHOLDERS EQUITY  
   
    Capital Stock -35,975
    Paid-In Capital 1,688,914
    Retained Earnings (Loss) -2,832,292
    Retained Earnings Current Year 342,206
      Total Stock Equity -837,146
   
TOTAL LIABILITY & STOCKHOLDER EQUITY 1,082,213
   
  Shares Issued and Outstanding 478,677,215

Contact Information

  • Media and Financial Contact:
    Marty Tullio
    McCloud Communications LLC
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