SOURCE: AmeraMex International

AmeraMex International

March 11, 2013 14:00 ET

AmeraMex International Reports Profitable Year End

CHICO, CA--(Marketwire - Mar 11, 2013) - AmeraMex International, Inc. (PINKSHEETS: AMMX), a provider of heavy equipment to infrastructure, shipping, construction and farming companies, today reported financial results for its financial year ended December 31, 2012.

The company reported revenue of approximately $3.4 million with gross profit of $2.5 million compared to revenue of approximately $5.2 million with gross profit of $2.2 million for the year ended December 31, 2011.

Gross profit margins, as a percentage of revenue, were 74 percent, a significant increase when compared to gross profit margins of 42 percent for the comparable 2011 year. Improved margins are due in part to product mix and the company's trucking operation.

The company reported a net income for the year of approximately $.276 million compared to net loss of $.132 million for the year ended December 31, 2011. This is due in part to a decrease in SG&A expenses and depreciation as equipment was sold directly out of inventory. 

AmeraMex CEO Lee Hamre commented, "We have discussed a number of potential projects over the past several months and will provide an update on the following projects during tomorrow's conference call."

Project Update:

  • Agreement between AmeraMex and U.S.-based Westrail to construct and repair railway system in Northern Africa 
  • SEC Audit
  • Transportation contract
  • Additional contracts in American Samoa
  • Opportunities in Peru and Central America
  • Order pipeline - international and U.S.
  • Opportunities in Niger
  • Opportunities within the Commodities Division

Tomorrow's call is scheduled at 11:00 a.m. Pacific Time, 2:00 p.m. Eastern Time. The dial-in number for both U.S. and international callers is 1-480-629-9760. Please dial in to the conference five minutes before the call is scheduled to begin and ask the operator for the AmeraMex conference call, ID 4604258.

An audio replay of the conference call will be available from March 12, 2013 at 5:00 p.m. Eastern, through March 26, 2013 at 11:59 p.m. Eastern. The replay can be accessed by dialing 1-858-384-5517 and entering conference pin number 4604258.

   
AmeraMex International, Inc  
Consolidated Income Statement  
(Unaudited)  
             
    12 Months Ended     12 Months Ended  
    December 31, 2011     December 31, 2012  
             
Sales   5,199,520     3,349,232  
             
Cost of Sales   3,027,058     852,127  
             
Gross Profit   2,172,462     2,497,105  
             
Expenses            
  Operating   1,409,291     1,729,708  
  SG&A   545,363     433,089  
Total Expenses   1,954,654     2,162,797  
             
Net Income from Operations   217,808     334,308  
             
Other Income, Expense, Depreciation   (333,151 )   (52,727 )
             
Income Tax   16,600     5,853  
             
Net Income (Loss)   (131,943 )   275,728  
             
Shares Issued and Outstanding   388,677,215     388,677,215  
 
 
AmeraMex International, Inc.
Condensed Consolidated Balance Sheets
as of December 31,2012
Unaudited
         
ASSETS        
  Current Assets:          
  Cash & Equivalent   33,119      
  Note Rec.   10,661      
  Acct. Receivable   94,230      
  Inventory   580,143      
    Total Current Asset   718,153      
           
Fixed Asset ($1,715,912 net of accumulated depreciation of $1,653,251)   62,660      
Other Asset   111,892      
      Total Asset       $ 892,706
           
LIABILITIES AND STOCKHOLDERS EQUITY          
           
  Current Liability          
  Acct. Payable   703,181      
  Taxes Payable   98,678      
  Other   186,751      
    Total Current Liabilities   988,610      
               
    Total Long term Liabilities   1,083,447      
           
      Total Liability       $ 2,072,057
           
           
STOCKHOLDERS EQUITY          
           
  Capital Stock   -35,975      
  Paid-In Capital   1,688,914      
  Retained Earnings (Loss)   -3,108,019      
  Retained Earnings Current Year   275,728      
    Total Stock. Equity   -1,179,352      
           
           
TOTAL LIABILITY & STOCKHOLDER EQUITY       $ 892,706
           
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:
    Marty Tullio
    McCloud Communications LLC
    949.553.9748 Office
    949.632.1900 Mobile
    Email Contact