Business & Finance
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Business and Finance
Thu, November 17, 2011
Wed, November 16, 2011 AmeraMex International Reports Third Quarter Revenue Increased 45 Percent
November 16, 2011 16:21 ET
AmeraMex International Reports Third Quarter Revenue Increased 45 Percent
Company Reports Third Consecutive Profitable Quarter
CHICO, CA--(Marketwire - Nov 16, 2011) - AmeraMex International, Inc. (
Highlights for the quarter:
- The company's first SEC compliant audit is substantially complete, with year-end adjustments to be recorded.
- The company is interviewing CFO candidates and expects to announce a new CFO before the end of the year.
- A conference call to update shareholders and members of the financial community is scheduled for Wednesday, November 30. A separate news release containing dial-in information will be disseminated shortly.
- The company has announced its third consecutive profitable quarter.
Third Quarter, Ended September 30, 2011
The company reported revenue of approximately $1.2 million, a 45 percent increase, when compared to revenue of $826,489 in the third quarter of 2010.
The gross profit for the quarter was $637,980 versus gross profit of $304,705 for the comparable quarter in 2010. Gross profit margins, as a percentage of revenue, were 55 percent, a significant increase, when compared to gross profit margins of 37 percent for the comparable quarter in 2010. Improved margins are due in part to product mix and increased international sales.
The company reported net income for the quarter of $51,593, a considerable improvement, when compared to a net loss of ($110,655) for the third quarter of 2010.
Nine-Month Period Ended September 30, 2011
Revenue for the nine-month period was approximately $3.5 million, a 35 percent increase, when compared to revenue of $2.6 for the comparable 2010 period. The company reported net income of $174,816 for the period, versus a net loss of ($294,949) for the comparable period in 2010.
Tables follow:
| AmeraMex International, Inc. | ||||||||
| Condensed Statement of Operations | ||||||||
| (Unaudited) | ||||||||
| For the Three-Months Ended Sept. 30, 2011 | For the Three-Months Ended Sept. 30, 2010 | |||||||
| Revenue | $ | 1,161,665 | $ | 826,489 | ||||
| Cost of Sales | 523,685 | 521,784 | ||||||
| Gross Profit | 637,980 | 304,705 | ||||||
| Expenses: | ||||||||
| Sales, General and Administrative | 522,082 | 342,692 | ||||||
| Other | 53,600 | 23,408 | ||||||
| Total Expenses | 575,682 | 366,100 | ||||||
| Net Income (Loss) from Operations | 62,298 | (61,395 | ) | |||||
| Other Expenses and Income | ||||||||
| Interest Expense | 407 | 1,909 | ||||||
| Depreciation | 10,298 | 51,020 | ||||||
| Income Tax Provision | - | - | ||||||
| Other | (3,669 | ) | ||||||
| Total Other Income & Expenses | 49,260 | |||||||
| Net Income (Loss) | $ | 51,593 | $ | (110,655 | ) | |||
| Basic Earnings (Loss) Per Share | $ | 0.0001 | $ | (0.0003 | ) | |||
| Weighted Average Shares Outstanding | 383,517,215 | 383,517,215 | ||||||
| Diluted Earnings (Loss) Per Share | 0.0001 | (0.0003 | ) | |||||
| AmeraMex International, Inc. | |||||
| Unaudited Condensed Consolidated Balance Sheets | |||||
| For the Nine-Month Period Ended September 30, 2011 | |||||
| ASSETS | |||||
| CURRENT ASSETS: | |||||
| Cash and Cash Equivalents | $ | 20,354 | |||
| Accounts Receivable | 329,210 | ||||
| Note Receivable | 455,445 | ||||
| Inventories | 1,150,191 | ||||
| Other Current Assets | 156,696 | ||||
| Total Current Assets | 2,111,896 | ||||
| Fixed Assets | 437,256 | ||||
| TOTAL ASSETS | $ | 2,549,152 | |||
| LIABILITIES AND STOCKHOLDERS' EQUITY | |||||
| CURRENT LIABILITIES | |||||
| Accounts Payable | $ | 1,659,790 | |||
| Taxes Payable | 254,689 | ||||
| Other Current Payables | 55,574 | ||||
| Total Current Liabilities | 1,970,053 | ||||
| Total Long Term Liabilities | 1,046,735 | ||||
| Total Liabilities | 3,016,78 | ||||
| STOCKHOLDERS' EQUITY | |||||
| Capital Stock | 204,025 | ||||
| Paid-In Capital | 1,981,603 | ||||
| Retained Earnings (Loss) | (2,825,002 | ) | |||
| Retained Earnings Current Year | 171,736 | ||||
| Total Stockholders' Equity | (467,637 | ) | |||
| TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $ | 2,549,152 | |||
| Number of common shares issued and outstanding: 383,517,215 | |||||
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 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
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, which are specified in Ecology's filings with the Securities and Exchange Commission. These risks and uncertainties could cause actual results to differ materially from any forward-looking statements made herein
