SOURCE: AmeraMex International

March 31, 2011 10:15 ET

Year End Financial Update Provided by AmeraMex International

Gross Margins for the Fourth Quarter Top 70 Percent

CHICO, CA--(Marketwire - March 31, 2011) - AmeraMex International, Inc. (PINKSHEETS: AMMX), a provider of heavy equipment to infrastructure construction companies and companies in the logistics (stevedoring and shipping) and mining industries, today provided a shareholder update and financial results for the year, ended December 31, 2010.

Current Highlights:

--  During the first quarter of 2011, the company received orders in excess
    of $1 million from international infrastructure construction and
    logistics companies located in Africa, South and Central America, and
    Canada.

--  Order pipeline is strong going into the second quarter of 2011.

--  African projects continue to grind through red tape with anticipated
    closure in second quarter.

--  A highly respected auditing firm retained to perform two-year audit,
    mandatory for fully reporting public company classification. The audit
    is scheduled to commence mid-April and conclude in September.

AmeraMex President and CEO Lee Hamre commented, "2010 was a challenging year domestically, so we took advantage of international opportunities. International relationships and sales take longer to develop, but present excellent ongoing order flow. Our international customers primarily order refurbished equipment, which provides considerably better gross profit margins than new equipment sold in the U.S."

Hamre continued, "Some of these opportunities, which currently involve the company with a number of partners, are expected to directly and indirectly boost the company's sales of heavy equipment and provide various commissions and finders fees during 2011. We are off to a good start for the year and expect revenue to increase on a quarterly basis."

For the year ended December 31, 2010, the company reported revenue of approximately $3.4 million and a net loss of ($322,503), or a loss per share of ($0.000), compared to revenue of $8.3 million and a net loss of $501,451 for 2009. A significant amount of revenue reported in the first quarter of 2009 was generated by orders received in 2008. As there is generally a lead time on new equipment orders, a portion of the new equipment on the 2008 order shipped to U.S. companies in 2009. AmeraMex does not book revenue until equipment ships.

EBITDA for the year was ($67,634), a 46 percent improvement over that of 2009. EBITDA, earnings before interest, taxes, depreciation and amortization, is an accepted industry tool to measure the fundamentals of growth companies.

AmeraMex will host its second shareholder conference call in April to discuss the highlights of 2010 and the milestones set for 2011. A news release announcing the conference call date, time and dial-in information will be publicly disseminated shortly.

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

                                                   12 Months    12 Months
                                                     Ended        Ended
                                                  December 31, December 31,
                                                      2010         2009
                                                  -----------  -----------
REVENUE
    Total Revenue                                 $ 3,358,973  $ 8,348,467

COST OF SALES
    Total Cost of Sales                             1,473,682    6,505,936

GROSS MARGIN                                        1,885,291    1,842,531

OPERATING EXPENSE
  SG&A                                              1,952,925    2,023,114
  Depreciation                                        247,700      257,375
                                                  -----------  -----------
    Total Operating Expense                       $ 2,200,625  $ 2,280,489

OPERATING INCOME (LOSS)                              (315,334)    (437,958)

OTHER INCOME AND EXPENSE
  Interest                                             49,251     (119,827)
  Tax Credit                                                -
  Income Tax Provision                                  2,021
  Other                                               (44,103)      56,334
                                                  -----------  -----------
    Total Other Income (Expense)                       (7,169)     (63,493)
NET INCOME (LOSS)                                    (322,504)    (501,451)
                                                  ===========  ===========
Basic Earnings (Loss) Per Share                   ($    0.000) ($    0.002)
                                                  ===========  ===========
Weighted Average Shares Outstanding               379,251,000  272,000,000
                                                  ===========  ===========
Diluted Earnings (Loss) Per  Share                ($    0.000) ($    0.002)
                                                  ===========  ===========



                       AmeraMex International, Inc.
                   Unaudited Consolidated Balance Sheet

                         For the 12-Month Period
                         ended December 31, 2010

ASSETS
  Current Assets
    Cash                                                  34,135
    Accounts Receivable                                  233,699
    Note Receivable                                      442,945
    Inventory                                            650,611
    Other Current Assets                                  62,984
                                                     -----------
        Total Current Assets                         $ 1,424,374
  Non Current Assets
    Investments                                          137,445
    Trucks & Trailers                                  1,513,902
    Other Vehicles                                       257,757
    Fixtures & Equipment                                 189,736
    Leasehold Improvements                               279,626
    Less: Accum Depreciation                          (1,871,833)
                                                     -----------
        Total Non Current Assets                     $   506,633

  TOTAL ASSETS                                       $ 1,931,006

LIABILITIES
  Current Liabilities
    Accounts Payable                                     969,393
    Taxes Payable                                        378,109
    Other Current Payables                                64,482
                                                     -----------
        Total Current Liabilities                    $ 1,411,984
  Non Current Liabilities
    Notes Payable                                      1,180,245

  TOTAL LIABILITIES                                  $ 2,592,229

EQUITY
      Capital Stock                                      204,025
      Additional Paid in Capital                       1,981,604
      Prior Period Adjustment                             70,426
      Retained Earnings (Prior)                       (2,594,774)
      Retained Earnings (Current)                       (322,503)
                                                     -----------
  TOTAL EQUITY                                       $  (661,223)
  TOTAL LIABILITIES & EQUITY                         $ 1,931,006

About AmeraMex International

AmeraMex International sells, leases, and rents heavy equipment to companies within four industries: construction (light and infrastructure), shipping, mining and logging. AmeraMex'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 North America, South America, Africa, Asia, and Eastern Europe, has over 30 years of experience in heavy equipment sales and service and inventories top-of-the-line equipment from manufacturers such as Taylor Machine Works Inc. and Terex Heavy Equipment. For more information, please visit the company's website: www.ammx.net.

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