Business and Finance Business and Finance
Tue, March 12, 2013
Mon, March 11, 2013

AmeraMex International Reports Profitable Year End


Published on 2013-03-11 11:15:24 - Market Wire
  Print publication without navigation


March 11, 2013 14:00 ET

AmeraMex International Reports Profitable Year End

CHICO, CA--(Marketwire - Mar 11, 2013) - AmeraMex International, Inc. (PINKSHEETS: [ AMMX ]), a provider of heavy equipment to infrastructure, shipping, construction and farming companies, today reported financial results for its financial year ended December 31, 2012.

The company reported revenue of approximately $3.4 million with gross profit of $2.5 million compared to revenue of approximately $5.2 million with gross profit of $2.2 million for the year ended December 31, 2011.

Gross profit margins, as a percentage of revenue, were 74 percent, a significant increase when compared to gross profit margins of 42 percent for the comparable 2011 year. Improved margins are due in part to product mix and the company's trucking operation.

The company reported a net income for the year of approximately $.276 million compared to net loss of $.132 million for the year ended December 31, 2011. This is due in part to a decrease in SG&A expenses and depreciation as equipment was sold directly out of inventory. 

AmeraMex CEO Lee Hamre commented, "We have discussed a number of potential projects over the past several months and will provide an update on the following projects during tomorrow's conference call."

Project Update:

  • Agreement between AmeraMex and U.S.-based Westrail to construct and repair railway system in Northern Africa 
  • SEC Audit
  • Transportation contract
  • Additional contracts in American Samoa
  • Opportunities in Peru and Central America
  • Order pipeline - international and U.S.
  • Opportunities in Niger
  • Opportunities within the Commodities Division

Tomorrow's call is scheduled at 11:00 a.m. Pacific Time, 2:00 p.m. Eastern Time. The dial-in number for both U.S. and international callers is 1-480-629-9760. Please dial in to the conference five minutes before the call is scheduled to begin and ask the operator for the AmeraMex conference call, ID 4604258.

An audio replay of the conference call will be available from March 12, 2013 at 5:00 p.m. Eastern, through March 26, 2013 at 11:59 p.m. Eastern. The replay can be accessed by dialing 1-858-384-5517 and entering conference pin number 4604258.

  
AmeraMex International, Inc 
Consolidated Income Statement 
(Unaudited) 
       
  12 Months Ended  12 Months Ended 
  December 31, 2011  December 31, 2012 
       
Sales 5,199,520  3,349,232 
       
Cost of Sales 3,027,058  852,127 
       
Gross Profit 2,172,462  2,497,105 
       
Expenses      
 Operating 1,409,291  1,729,708 
 SG&A 545,363  433,089 
Total Expenses 1,954,654  2,162,797 
       
Net Income from Operations 217,808  334,308 
       
Other Income, Expense, Depreciation (333,151) (52,727)
       
Income Tax 16,600  5,853 
       
Net Income (Loss) (131,943) 275,728 
       
Shares Issued and Outstanding 388,677,215  388,677,215 
 
 
AmeraMex International, Inc.
Condensed Consolidated Balance Sheets
as of December 31,2012
Unaudited
     
ASSETS    
 Current Assets:     
 Cash & Equivalent 33,119   
 Note Rec. 10,661   
 Acct. Receivable 94,230   
 Inventory 580,143   
  Total Current Asset 718,153   
      
Fixed Asset ($1,715,912 net of accumulated depreciation of $1,653,251) 62,660   
Other Asset 111,892   
   Total Asset   $892,706
      
LIABILITIES AND STOCKHOLDERS EQUITY     
      
 Current Liability     
 Acct. Payable 703,181   
 Taxes Payable 98,678   
 Other 186,751   
  Total Current Liabilities 988,610   
        
  Total Long term Liabilities 1,083,447   
      
   Total Liability   $2,072,057
      
      
STOCKHOLDERS EQUITY     
      
 Capital Stock -35,975   
 Paid-In Capital 1,688,914   
 Retained Earnings (Loss) -3,108,019   
 Retained Earnings Current Year 275,728   
  Total Stock. Equity -1,179,352   
      
      
TOTAL LIABILITY & STOCKHOLDER EQUITY   $892,706
      
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.


Contributing Sources