For Immediate Release
AmeraMex International Reports Profitable Year End
CHICO, CA – March 11, 2013 – AmeraMex International, Inc. (OTC: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.”
- 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.
The financial tables are located in the attached PDF file of this release.