SOURCE: AmeraMex International

AmeraMex International

May 16, 2016 07:00 ET

AmeraMex International Reports Revenue of $3.2 Million With Net Income of $1.2 Million for the First Quarter of 2016

CHICO, CA--(Marketwired - May 16, 2016) - AmeraMex International, Inc. (OTC PINK: AMMX), a provider of heavy equipment for logistics companies (stevedoring/shipping), infrastructure construction, logging and mining companies, today reported financial results for its first quarter ended March 31, 2016.

Highlights for the First Quarter Ended March 31, 2016

  • Revenue for the first quarter was approximately $3.2 million versus revenue of $.936 for the comparable quarter.
  • Gross profit for the first quarter was approximately $2.7 million -- a significant increase when compared to gross profit of $.549 million for the quarter ended March 31, 2015.
  • Gross profit margin, as a percentage of revenue, was 83 percent, versus a gross profit margin of 59 percent for the comparable 2015 quarter.
  • The company net profit for the quarter of $1.2 million (after taxes) compared to net profit of $.020 million for the first quarter ended March 31, 2015. 
  • First quarter balance sheet continues to improve when compared to the 2015 year-end balance sheet.
  • AmeraMex International received $3.7 million in sales and rental contracts during the first quarter and to date in the second quarter, the company has reported approximately $1.8 million in sales.

AmeraMex CEO Lee Hamre commented, "Progress has been made with various projects in our African pipeline but there hasn't been any significant breakthroughs since our March 25 conference call. When there are, we will happily share the information via a public news release.

"We are gearing up for the beginning of our SEC audit and are pleased to 'get the show on the road' to become a fully reporting company. I am also happy to report that we expect to sign a dealership agreement with a U.S.-based equipment manufacturer. This dealership agreement will increase the depth of our product line and provide a more cost-effect solution for our potential customers in Africa. We are pushing to make this happen within the next three to four weeks," added Hamre.

   
   
AmeraMex International, Inc  
Consolidated Income Statement  
(Unaudited)  
             
    3 Months Ended     3 Months Ended  
    March 31, 2015     March 31, 2016  
                 
  Revenue   $ 935,198     $ 3,243,081  
                   
  Cost of Sales     386,216       545,856  
                   
  Gross Profit     548,982       2,697,225  
                   
  Expenses                
        Operating     198.387       959,458  
        SG&A     295,091       18,956  
              Total Expenses     493,478       978,414  
                   
  Net Income from Operations     55,504       1,718,811  
                   
  Other Income, Expense, Depreciation     (35,654 )     ( 535,283 )
                   
  Income Tax Provision     -       23,120  
                   
  Net Income (Loss)   $ 19,850     $ 1,160,408  
                   
  Total number of shares issued and outstanding: 778.2 million                
                 
                 
 
 
AmeraMex International, Inc.
Condensed Consolidated Balance Sheet
as of March 31, 2016
Unaudited
               
ASSETS                
  Current Assets:            
  Cash & Equivalent   285,406        
  Other Assets     113,585        
  Acct. Receivable   157,787        
  Inventory     1,365,983        
    Total Current Asset   1,922,761        
                 
Fixed Asset Net     3,077,575        
Other Asset     153,090        
        Total Asset     $ 5,153,426
LIABILITIES AND STOCKHOLDERS EQUITY        
                 
  Current Liability            
  Acct. Payable   294,235        
  Accrued Expenses   28,002        
  Income Taxes Payable   118,338        
  Line of Credit   442,881        
  Notes Payable Current   748,101        
                 
    Total Current Liabilities   1,631,557        
                 
    Total Long term Liabilities   600,000        
                 
        Total Liability     $ 2,231,557
                 
STOCKHOLDERS EQUITY            
                 
  Common Stock   754,016        
  Paid-In Capital   20,774,825        
  Treasury Stock   (5,000 )      
  Retained Earnings(Loss)   (18,601,971 )      
               
    Total Stock Equity   2,921,869        
                 
                 
TOTAL LIABILITY & STOCKHOLDER EQUITY     $ 5,153,426
                 
Total number of shares issued and outstanding: 778.2 million          
                 
                 

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.

Except for the historical information contained herein, statements discussing sales or revenue projections are forward-looking and 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.

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