CHICO, CA--(Marketwired - May 16, 2016) - AmeraMex International, Inc. (
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.
Contact Information:
Investor and Media Relations
McCloud Communications, LLC
Marty Tullio
Managing Member
949.632.1900