CHICO, CA--(Marketwire - Mar 11, 2013) - AmeraMex International, Inc. (
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