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AmeraMex International Provides Third Quarter Financial Update

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  Published in Business and Finance on Wednesday, November 11th 2009 at 7:27 GMT by Market Wire
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CHICO, CA--(Marketwire - November 11, 2009) - AmeraMex International, Inc. (PINKSHEETS: [ AMMX ]), a provider of heavy equipment to the stevedoring industry (shipping and logistics), infrastructure and commercial construction, today reported financial results for its third quarter and nine-month period ended September 30, 2009.

"The downturn in the U.S. economy over the past nine months has had a negative impact on our U.S. customer base, which in turn has reduced our revenue to levels not seen since 2002," said AmeraMex CEO Lee Hamre. "We are beginning to build a substantial proposal pipeline from our port customers, as they must purchase new container handlers that meet mandatory EPA Tier III compliance. When our port customers acquire new equipment, we and our new partner, Cromer Equipment, have an opportunity to purchase and refurbish the non-compliant equipment for resale out of the country. We recently purchased used port equipment for refurbishment with a resale value of approximately $1 to $1.5 million."

Hamre continued, "The progress being made in North Africa is beginning to generate revenue and a potential pipeline of business that can change the playing field for AmeraMex. I'll be in Africa for the next 14 days and expect to provide our shareholders with a positive update upon my return."

For the third quarter ended September 30, 2009, the company reported revenue of $635,344 and a net loss of ($315,652), or a loss per share of ($.0.001). EBITDA for the quarter was ($244,567). EBITDA, earnings before interest, taxes, deprecation and amortization, is an accepted industry tool to measure the fundamentals of growth companies.

For the nine-month period ended September 30, 2009, the company reported revenue of approximately $7.4 million, with a net loss of ($396,077), or a net loss per share of ($0.001). EBITDA for the period was ($124,909).

Tables follow

 AmeraMex International, Inc. CONDENSED STATEMENT OF OPERATIONS (UNAUDITED) Third Quarter Nine Months Ended Ended September 30, September 30, 2009 2009 ------------- ------------- REVENUE Total Revenue 635,344 7,384,411 COST OF SALES Total Cost of Sales 593,946 6,719,258 GROSS MARGIN 41,399 665,153 OPERATING EXPENSE SG&A 282,966 790,063 Depreciation 105,193 315,579 ------------- ------------- Total Operating Expense 388,159 1,105,642 OPERATING INCOME (LOSS) (346,760) (440,488) OTHER INCOME AND EXPENSE Interest (18,794) (75,344) Miscellaneous 49,902 63,421 Tax Credit - 56,334 ------------- ------------- Total Other Income (Expense) 31,108 44,411 ------------- ------------- NET INCOME (LOSS) (315,652) (396,077) ============= ============= ============= ============= Basic Earnings (Loss) Per Share ($ 0.001) ($ 0.001) ============= ============= Weighted Average Shares Outstanding 272,000,000 272,000,000 ============= ============= Diluted Earnings (Loss) Per Share ($ 0.001) ($ 0.001) ============= ============= ============= ============= AmeraMex International, Inc. UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS For the Three-Month Period Ended September 30, 2009 ASSETS Current Assets Cash 5,460 Accounts Receivable 276,911 Inventory 1,084,618 Other Current Assets 580,503 ---------- Total Current Assets 1,947,492 Non Current Assets Investments 166,945 Trucks & Trailers 1,560,137 Other Vehicles 280,469 Fixtures & Equipment 275,366 Leasehold Improvements 279,626 Less: Accum Depreciation (1,939,890) ---------- Total Non Current Assets 622,653 TOTAL ASSETS 2,570,144 LIABILITIES Current Liabilities Accounts Payable 938,157 Taxes Payable 345,220 Other Current Payables 179,118 ---------- Total Current Liabilities 1,462,494 Non Current Liabilities Notes Payable 1,406,757 TOTAL LIABILITIES 2,869,252 EQUITY Capital Stock 204,025 Additional Paid in Capital 1,974,104 Retained Earnings (Prior) (2,081,159) Retained Earnings (Current) (396,077) ---------- TOTAL EQUITY (299,107) TOTAL LIABILITIES & EQUITY 2,570,144 

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, 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 visit the AmeraMex 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.