SOURCE: AmeraMex International

AmeraMex International

May 18, 2015 13:57 ET

AmeraMex International Reports Revenue for the First Quarter of 2015

CHICO, CA--(Marketwired - May 18, 2015) -  AmeraMex International, Inc. (OTC PINK: AMMX), a provider of heavy equipment to infrastructure, shipping, construction and farming companies, today reported financial results for its first quarter ended March 31, 2015.

Highlights for the First Quarter Ended March 31, 2015

  • AmeraMex International receives five-year government rental agreement totaling $837,000
  • AmeraMex International receives $275,000 in equipment orders
  • AmeraMex International announces orders totaling $200,000
  • Ecobank approved shipment for the first 100 trucks and trailers to Niger. The shipment is valued at approximately $12 million. The Agreement calls for 3,000 trucks and trailers to be shipped over a five-year period.
  • The company reported revenue of approximately $.936 million compared to revenue of $2.8 million for the first quarter of 2014.
  • Gross profit for the first quarter was of approximately $.549 million compared to gross profit of $1.1 million for the quarter ended March 31, 2014.
  • Gross profit margins, as a percentage of revenue, were 59 percent, compared to gross profit margins of 39 percent for the comparable 2014 quarter.
  • The company reported a net profit for the quarter of $.020 million compared to net profit of $.205 million for the first quarter ended March 31, 2014. 

AmeraMex CEO Lee Hamre commented, "Our sales process is time consuming and often requires several months and many processes before an agreement is signed. Once signed there is often a time lag while equipment is being built or while we refurbish used equipment. This process makes it difficult to have consistency in our revenue flow -- much like companies with seasonality issues. 

"Historically," continued Hamre, "revenue for our first quarter is normally low and revenue of $2.8 million for the first quarter of 2014 was an anomaly. That is the nature of our industry."

   
   
AmeraMex International, Inc  
Consolidated Income Statement  
(Unaudited)  
             
    3 Months Ended     3 Months Ended  
    March 31, 2015     March 31, 2014  
             
Revenue   $ 935,198     $ 2,836,114  
                 
Cost of Sales     386,216       1,709,978  
                 
Gross Profit     548,982       1,126,136  
                 
Expenses                
  Operating     198.387       630,566  
  SG&A     295,091       288,572  
    Total Expenses     493,478       919,138  
                 
Net Income from Operations     55,504       206,998  
                 
Other Income, Expense, Depreciation     (35,654 )     (2,426 )
                 
Income Tax Provision     -       -  
                 
Net Income (Loss)   $ 19,850     $ 204,572  
                 
Total number of shares issued and outstanding: 664.9 million                
                 
                 
                 
AmeraMex International, Inc.
Condensed Consolidated Balance Sheet
as of March 31, 2015
Unaudited
         
ASSETS          
  Current Assets:          
  Cash & Equivalent   70,416      
  Note Rec.   3,200      
  Acct. Receivable   463,500      
  Inventory   779,766      
    Total Current Asset   1,316,882      
           
Fixed Asset Net   612,789      
Other Asset   145,608      
    Total Asset   $ 2,075,280
LIABILITIES AND STOCKHOLDERS EQUITY      
           
  Current Liability          
  Acct. Payable   405,435      
  Taxes Payable   5,068      
  Other   66,983      
    Total Current Liabilities   477,486      
             
    Total Long term Liabilities   1,573,982      
           
    Total Liability   $ 2,051,468
           
STOCKHOLDERS EQUITY          
           
  Capital Stock   586,565      
  Paid-In Capital   1,561,184      
  Retained Earnings(Loss)   -2,143,787      
  Retained Earning Current Year   19,850      
    Total Stock Equity   23,812      
           
           
TOTAL LIABILITY & STOCKHOLDER EQUITY   $ 2,075,280
           

Total number of shares issued and outstanding: 664.9 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.

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and as such, may involve risks and uncertainties. Forward-looking statements, which are based on certain assumptions and describe future plans, strategies, and expectations, are generally identifiable by the use of words such as "believe," "expect," "intend," "anticipate," "estimate," "project," or similar expressions. These forward-looking statements relate to, among other things, expectations of the business environment in which the Company operates, projections of future performance, potential future performance, perceived opportunities in the market, and statements regarding the Company's mission and vision. The Company's actual results, performance, and achievements may differ materially from the results, performance, and achievements expressed or implied in such forward-looking statements.

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