SOURCE: AmeraMex International

AmeraMex International

November 16, 2015 15:31 ET

AmeraMex International Reports Third Quarter Revenue of $1.7 Million and Revenue of $3.9 Million for the Nine-Month Period

Shareholder Conference Call Friday, November 20 at 11:00 p.m. PT

CHICO, CA--(Marketwired - Nov 16, 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 third quarter and nine-month period, ended September 30, 2015.

Third Quarter Ended September 30, 2015

The company reported revenue of approximately $1.7 million compared to revenue of approximately $2.2 million for the third quarter of 2014. Gross profit for the quarter was approximately $.632 million compared to gross profit of $1.1 million for the third quarter of 2014.

The company reported net income for the quarter of $.102 million compared to net income of $.317 million for the 2014 quarter.

Nine-Month Period Ended September 30, 2014

Revenue for the nine-month period was approximately $3.9 million compared to revenue of $6.1 million for the comparable 2014 period.

The company reported net income of approximately $.343 million for the period compared to net income of approximately $.598 million for the comparable period in 2014.

AmeraMex CEO Lee Hamre commented, "Our revenue for the third quarter and nine-month period was significantly lower when compared to the same periods in 2014. This is due in part to product mix, new products versus refurbished products, along with time required to refurbish and ship larges pieces of equipment before the end of the quarter. We are on target to report a record fourth quarter."

Conference Call
The shareholder conference call, chaired by AmeraMex CEO Lee Hamre, is scheduled for Friday, November 20, 2015 at 11:00 a.m. Pacific Time, 2:00 p.m. Eastern Time.

The conference call dial-in number for both U.S. and international callers is 1.719.325.2420 and the conference call ID is 2447737. An audio replay of the conference call will be available from November 19, 2015 at 5:00 p.m. Eastern until December 3, 2015 at 11:59 a.m. Eastern. The replay can be accessed by dialing 1.858.384.5517 and entering conference pin number 2447737.

   
   
AmeraMex International, Inc.  
Condensed Statement of Operations  
(Unaudited)  
   
    Nine Months Ended     Three Months Ended  
    9/30/2014     9/30/2015     9/30/2014     9/30/2015  
                         
Sales   $ 6,123,527     $ 3,928,668     $ 2,245,371     $ 1,713,858  
Cost Of Sales     3,295,696       1,951,066       1,140,025       1,081,376  
Gross Profit     2,827,831       1,977,602       1,105,346       632,482  
                                 
Expenses                                
  Operating     1,605,492       714,202       599,879       341,125  
  SG&A     599,159       765,222       175,239       141,525  
Total Expenses     2,204,651       1,479,423       775,118       482,650  
                                 
Net Income (Loss) from Operations     623,180       498,180       330,228       149,832  
                                 
Other Income, Expense, Depreciation     (25,167 )     (154,880 )     (13,222 )     (39,248 )
                                 
Income Tax     0       (10,381 )     0       (8,935 )
                                 
                                 
Net Income (Loss)   $ 598,013     $ 332,919     $ 317,006     $ 101,649  
                                 
Basic and Diluted Earnings (Loss) per Share     0       0       0       0  
                                 
Weighted Average Shares Outstanding     660,280,879       660,280,879                  
                                 
                                 
                                 
AmeraMex International, Inc.
Condensed Consolidated Balance Sheet
09/20/15
 
ASSETS          
  Current Assets:          
  Cash & Equivalent   84,693      
  Note Receivable          
  Accounts Receivable   348,887      
  Inventory   2,112,959      
    Total Current Asset   2,546,539      
           
Fixed Asset Net   620,641      
Other Asset   160,209      
        $ 3,327,389
LIABILITIES AND STOCKHOLDERS EQUITY          
           
  Current Liability          
  Accounts Payable   1,321,932      
  Taxes Payable   0      
  Other   134,963      
    Total Current Liabilities   1,456,895      
             
    Total Long term Liabilities   2,044,747      
           
    Total Liability     3,501,642
           
STOCKHOLDERS EQUITY          
           
  Capital Stock   586,565      
  Paid-In Capital   1,561,184      
  Retained Earning(Loss)   -2,654,920      
  Retained Earning Current Year   332,919      
    Total Stock Equity   -174,253      
           
           
TOTAL LIABILITY & STOCKHOLDER EQUITY       $ 3,327,389
           
           

Total Shares Issued and Outstanding: 660,280,879 as of September 30, 2015

   
   
   
AmeraMex International, Inc.  
Statement of Cash Flows for the Period Ending September 30, 2015  
   
CASH FLOW FROM OPERATING ACTIVITIES        
  Net income   $ 332,919  
  Adjustments to reconcile net income to net cash provided by operating activities        
    Depreciation        
    Gain on Sale of Asset     0  
  Change in Value of Life Ins     0  
  Changes in assets and liabilities        
  (Increase) in:        
    Inventory     953,002  
    Depreciable Assets     326,212  
    Other Assets     (75,084 )
    Accounts receivable     (155,011 )
    (Increase) decrease in:        
      Accounts payable     428,084  
      Current Liabilities     (38,320 )
      Current Maturities of Long Term Debt     163,043  
      Other Assets and Liabilities     36,927  
      Current Sales Tax accrued     17,936  
      Net cash provided by financing activities   $ 1,989,708  
         
CASH FLOWS FROM INVESTING ACTIVITIES        
  Increase In Long Term Debt     685,262  
  Other Income     0  
  Purchases of property and equipment     (2,198,791 )
      Net cash (used in) financing activities   $ (1,513,529 )
         
CASH FLOWS FROM FINANCING ACTIVITIES        
  Principal payments on long-term debt     (882,909 )
      Net cash (used in) financing activities   $ (882,909 )
         
Net increase in cash and cash equivalents     (406,730 )
         
Net increase in cash and cash equivalents - forwarded   $ (406,730 )
         
CASH AND CASH EQUIVALENTS        
  Beginning     491,423  
  Ending   $ 84,693  
         
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION        
    Cash payments for:        
    Interest   $ 33,998  
    Income taxes   $ 8,935  
         
         

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

  • Media and Financial Contact:
    Marty Tullio
    McCloud Communications LLC
    Phone: 949.632.1900
    Email Contact