SOURCE: AmeraMex International

August 27, 2009 10:00 ET

AmeraMex International Reports Second Quarter Revenue of $4.7 Million With Positive Bottom Line

MOU Sent to Ghana's Vice President for Review

CHICO, CA--(Marketwire - August 27, 2009) - AmeraMex International, Inc. (PINKSHEETS: AMMX), a provider of heavy equipment to infrastructure, shipping, construction, and mining companies, today reported financial results for its second quarter ended June 30, 2009.

The company reported revenue of $4,727,231 for the quarter, with net income of $102,419, or net income per share of $0.0004. EBITDA (earnings before interest, tax, deprecation and amortization) for the quarter was $226,355, a significant improvement compared to the second quarter of 2008, when the company reported a loss of ($335,705), or a loss per share of ($0.001), and EBITDA of $(180,040). EBITDA is an excellent measurement of a fast-growing company's operational performance.

"While revenue for the quarter was down approximately $1 million, compared to the second quarter of 2008, we have turned around the bottom line and increased our operational efficiencies," commented AmeraMex CEO Lee Hamre. "With the economic difficulties facing our target markets in the U.S. it is difficult to project what the next two quarters will bring, but I believe the investment of time we have made in Nigeria and Ghana, along with several other developing countries, will begin to pay off before year end."

Hamre continued, "This week we developed a memorandum of understanding (MOU) outlining the terms of a program to improve the farming methodology currently used throughout Ghana and other African countries. We believe our proven plan, which uses the latest farming technologies and products, will allow farmers in Ghana to significantly increase crop output. Once we have a signed an MOU from Ghana, the Governor of Idaho will extend an invitation to Ghana's President and Vice President to visit Walker Farm and view the latest technology and science used by a successful farming company.

"This opportunity would substantially increase revenue over the next five years, as it not only includes a substantial yearly commission, but will generate revenue on 600 plus farming tractors and miscellaneous equipment. As soon as we have an approved MOU and timeline developed for the farming program, we will disseminate a news release. Additionally, as mentioned in a news release disseminated August 18, we are still waiting for a more conclusive MOU for the proposed rail project in Ghana," added Hamre.


                   AmeraMex International, Inc.
                CONDENSED STATEMENT OF OPERATIONS
                           (UNAUDITED)


                                  For the Three-month   For the Three-month
                                       Period Ended         Period Ended
                                      June 30, 2009        June 30, 2008


Sales                               $       4,727,231   $     5,829,865


Cost of Sales                               4,321,324         5,569,236

Gross Profit                        $         405,907   $       260,629


Expenses:

    Sales, General and
     Administrative                           240,337           425,637
    Depreciation & Amortization               105,193           105,193
  Total Expenses                              345,530           530,830

  Net Income (Loss) from
   Operations                                  60,377          (270,201)

Other Expenses and Income
    Misc.                                                        15,032
    Interest                                        -            50,472
    Casualty Loss Recovers                      3,350
    Income Tax Credit                          38,692

Total Other Income & Expense                   42,042            65,504

Net Income                          $         102,419   $      (335,705)

Basic Earnings (Loss) Per Share     $          0.0004   $        (0.001)
Weighted Average Shares
Outstanding                               272,000,000       262,000,000

Diluted  Earnings (Loss) Per
 Share                              $          0.0004   $        (0.001)




                    AmeraMex International, Inc.
           UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS




                                                       For the Three-month
                                                           Period Ended
                                                          June 30, 2009
ASSETS

CURRENT ASSETS:
  Cash and Cash Equivalents                            $        211,983
  Accounts Receivable                                           271,730
  Inventories                                                 1,724,692
  Other Current Assets                                          607,698

Total Current Assets                                          2,816,103

Fixed Assets                                                    727,846

TOTAL ASSETS                                           $      3,543,949


LIABILITIES AND STOCKHOLDERS’ EQUITY

CURRENT LIABILITIES
  Accounts Payable                                     $      1,269,171
  Taxes Payable                                                 479,386
  Accrued Expenses And Other Liabilities                        352,945

Total Current Liabilities                                     2,101,501

Total Long Term Liabilities                                   1,424,363

Total Liabilities                                             3,525,865

STOCKHOLDERS’ EQUITY

  Capital Stock                                                 204,025
  Paid-In Capital                                             1,974,104
  Retained Earnings (Loss)                                   (2,081,159)
  Retained Earnings Current Year                                (78,886)

Total Stockholders’ Equity                                       18,084

TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY             $      3,543,949


About AmeraMex International

AmeraMex International carries a large inventory of heavy equipment, which it sells, leases, and rents to a variety of industries, including the stevedoring, heavy construction, light construction, logging and mining industries. AmeraMex's largest product line is specialized container handling equipment for stevedoring companies that load and offload ships -- from container ships to cruise lines and fishing fleets. AmeraMex has over 30 years of experience in heavy equipment sales and service and carries top-of-the-line equipment from manufacturers such as Taylor Machine Works Inc., Terex Heavy Equipment, and Barko Hydraulics.

Safe Harbor Statement

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.

Contact Information

  • Media and Financial Contact:
    Marty Tullio
    McCloud Communications LLC
    949.553.9748
    Email Contact