CHICO, CA--(Marketwired - May 17, 2013) - AmeraMex International, Inc. (
The company reported revenue of approximately $503,894 with gross profit of $302,755 compared to revenue of approximately $713,676 with gross profit of $232,541 for the comparable quarter ended March 31, 2012.
Gross profit margins, as a percentage of revenue, were 60 percent, a significant increase when compared to gross profit margins of 33 percent for the comparable 2012 quarter. Continued improvement of margins is due in part to product mix and the company's trucking operation.
The company reported a net loss for the year of ($119,424) compared to net loss of ($391,709) for the first quarter ended March 31, 2012. This is due in part to a decrease in total expenses and depreciation as the inventory of equipment was sold or fully depreciated.
During the year-end conference call management stated, "We expected to have letters of intent from companies to purchase crude oil/fuel no later than the middle of May." Management is in contact with these companies daily and expects to provide an update in the near future.
AmeraMex partners in Africa indicated to management that they expected several infrastructure projects to be finalized by the end of April. AmeraMex CEO Lee Hamre commented, "It is now May and these projects are taking longer than our partners project but several are in final negations. We are in communications with the partner companies working on the funding of the projects. Best estimate for approved funding is now in the third quarter of 2013. We are currently awaiting final notification of funding approval for one of the projects located in Niger. This project is large enough to get everything in Africa kicked off. Once complete, funding for other projects will be much easier."
| AmeraMex International, Inc | |||||||
| Consolidated Income Statement | |||||||
| (Unaudited) | |||||||
| 3 Months Ended | 3 Months Ended | ||||||
| March 31, 2012 | March 31, 2013 | ||||||
| Sales | 713,676 | 503,894 | |||||
| Cost of Sales | 481,135 | 201,139 | |||||
| Gross Profit | 232,541 | 302,755 | |||||
| Expenses | |||||||
| Operating | 501,427 | 323,504 | |||||
| SG&A | 105,304 | 93,204 | |||||
| Total Expenses | 606,731 | 416,708 | |||||
| Net Income from Operations | (374,190 | ) | (113,953 | ) | |||
| Other Income, Expense, Depreciation | (16,690 | ) | (5,471 | ) | |||
| Income Tax Provision | 829 | - | |||||
| Net Income (Loss) | (391,709 | ) | (119,424 | ) | |||
| AmeraMex International, Inc. | |||||||
| Condensed Consolidated Balance Sheet | |||||||
| as of March 31, 2013 | |||||||
| Unaudited | |||||||
| ASSETS | |||||||
| Current Assets: | |||||||
| Cash & Equivalent | -1,754 | ||||||
| Note Rec. | 8,500 | ||||||
| Acct. Receivable | 110,414 | ||||||
| Inventory | 542,188 | ||||||
| Total Current Asset | 659,348 | ||||||
| Fixed Asset Net | 57,189 | ||||||
| Other Asset | 111,892 | ||||||
| Total Asset | $ | 828,429 | |||||
| LIABILITIES AND STOCKHOLDERS EQUITY | |||||||
| Current Liability | |||||||
| Acct. Payable | 824,600 | ||||||
| Taxes Payable | 97,750 | ||||||
| Other | 183,952 | ||||||
| Total Current Liabilities | 1,106,302 | ||||||
| Total Long Term Liabilities | 1,020,904 | ||||||
| Total Liability | $ | 2,127,206 | |||||
| STOCKHOLDERS EQUITY | |||||||
| Capital Stock | -35,975 | ||||||
| Paid-In Capital | 1,688,914 | ||||||
| Retained Earning (Loss) | -2,832,292 | ||||||
| Retained Earning Current Year | -119,424 | ||||||
| Total Stock Equity | -1,298,777 | ||||||
| TOTAL LIABILITY & STOCKHOLDER EQUITY | $ | 828,429 | |||||
| Total shares issued and outstanding | 388,677,215 | ||||||
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 .
Safe Harbor Statement Except for the historical e historical information contained herein, the matters discussed are forward-looking statements 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.
Media and Financial Contact: Marty Tullio McCloud Communications LLC 949.553.9748 Office 949.632.1900 Mobile Email Contact
