SOURCE: AmeraMex

AmeraMex

April 03, 2012 13:00 ET

AmeraMex International Reports a Profitable 2011 With a 53 Percent Increase in Revenue

CHICO, CA--(Marketwire - Apr 3, 2012) - AmeraMex International, Inc. (PINKSHEETS: AMMX), a provider of heavy equipment for the infrastructure construction, logistics (stevedoring and shipping), farming and mining industries, provided financial results for the year ended December 31, 2011.

Current Highlights:

  • The two-year audit is expected to be finalized shortly. The 2011 year end had to be completed before finalizing the audit.
  • Order pipeline is strong going into the second quarter of 2012.
  • African projects continue to grind through red tape with anticipated news in second quarter.

AmeraMex President and CEO Lee Hamre commented, "2011 was a better year with the majority of revenue being generated internationally. International relationships are beginning to flourish and we are experiencing reorders from customers, especially in South America. These customers primarily order refurbished equipment, which provides considerably better gross profit margins than new equipment."

For the year ended December 31, 2011, the company reported revenue of approximately $5.2 million, a 53 percent increase, when compared to revenue of $3.4 million for 2010. Net profit for the year was $152,850, compared to a net loss of ($322,503) for 2010 -- a significant improvement.

EBITDA for the year was $454,625, a considerable increase when compared to EBITDA of ($67,634) for 2010. EBITDA, earnings before interest, taxes, depreciation and amortization, is an accepted industry tool to measure the fundamentals of growth companies.

AmeraMex International, Inc.
CONDENSED STATEMENT OF OPERATIONS
(UNAUDITED)
12 Months Ended 12 Months Ended
December 31, 2011 December 31, 2010
REVENUE
Total Revenue $ 5,222,934 $ 3,358,973
COST OF SALES
Total Cost of Sales $ 3,041,888 $ 1,473,682
GROSS MARGIN
$ 2,181,046 $ 1,885,291
OPERATING EXPENSE
SG&A $ 1,817,617 $ 1,952,925
Depreciation $ 153,883 $ 247,700
Total Operating Expense $ 1,971,500 $ 2,200,625
OPERATING INCOME (LOSS) $ 209,546 $ (315,334 )
OTHER INCOME AND EXPENSE
Interest $ (57,346 ) $ 49,251
Tax Credit - -
Income Tax Provision $ (16,600 ) $ 2,021
Other - $ (44,103 )
Total Other Income (Expense) $ (73,946 ) $ (7,169 )
NET INCOME (LOSS) $ 135,600 $ (322,504 )
Basic Earnings (Loss) Per Share $ 0.00 $ 0.00
Weighted Average Shares Outstanding 388,677,215 379,251,000
Diluted Earnings (Loss) Per Share $ 0.00 $ 0.00
AmeraMex International, Inc.
Unaudited Consolidated Balance Sheet
For the 12-Month Period ended December 31, 2011
ASSETS
Current Assets
Cash $ 83,852
Accounts Receivable $ 632,700
Note Receivable $ -
Inventory $ 676,367
Other Current Assets $ 13,477
Total Current Assets $ 1,406,396
Non Current Assets
Investments $ 137,445
Property, Plant & Equip. $ 2,245,722
Less Accum Depreciation $ (2,025,716 )
Total Non Current Assets $ 357,451
TOTAL ASSETS $ 1,763,847
LIABILITIES
Current Liabilities
Purchase Orders $ 668,448
Accounts Payable $ 766,733
Taxes Payable $ 210,706
Other Current Payables $ 84,944
Total Current Liabilities $ 1,730,831
Non Current Liabilities
Notes Payable $ 750,042
TOTAL LIABILITIES $ 2,480,873
EQUITY
Capital Stock $ 204,025
Additional Paid in Capital $ 1,768,352
Prior Period Adj. $ 70,426
Retained Earnings (Prior) $ (2,895,429 )
Retained Earnings (Current) $ 135,600
Total $ (717,026 )
TOTAL LIABILITIES & EQUITY $ 1,763,847
Shares issued & 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 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.

Forward-looking Statements
Except for the historical information contained herein, the matters discussed pertaining to equipment orders and future revenue 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
    Email Contact