AmeraMex International Announces a Profitable First Quarter and Its Fifth Consecutive Profitable Quarter
First Quarter 2012 Highlights:
- Fifth consecutive profitable quarter
- Orders totaling $2.4 million were booked in the first quarter; second quarter bookings currently stand at $500,000 with a $200,000 order pending
- Net income increased over 300 percent when compared to the first quarter of 2011
- Gross profit margins rose from 40 percent to 66 percent when compared to the first quarter of 2011
- EBITDA (earnings before interest, tax, depreciation and amortization) increased to $44,490, a 140 percent increase when compared to EBITDA of $18,504 for first quarter of 2011
- Projects in multiple African countries are once again gaining momentum
For the quarter, the company reported revenue of $989,962, with net income of $23,071. While revenue was down slightly for the first quarter, gross profit increased 35 percent when compared to the first quarter of 2011. AmeraMex captures revenue upon shipment of equipment to its customers.
AmeraMex CEO Lee Hamre commented, “Sales in the U.S. remain sluggish but like other heavy equipment companies, a large portion of our revenue is being generated from countries in Africa, South America and Asia – emerging countries with requirements for natural resources such oil, precious metals and food and a infrastructure for in-country logistics to support continued growth. These countries have a pent up demand for economical heavy equipment, spare parts and consultants to assist with infrastructure projects; all carry better profit margins then the same equipment and services sold within the U.S.”
Hamre continued, “We are expanding our reach within emerging countries by working through partnerships, government agencies and business consultants. The most valuable lesson we have learned is patience! This month we have visitors coming from Africa to discuss infrastructure projects that have funds identified and earmarked by country's government. We will share as much as possible as the process continue to gain momentum.”
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
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.
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