AmeraMex International Reports Revenue of $2.8 Million
– a 241 Percent Increase
CHICO, CA – May 16, 2014 – AmeraMex International, Inc. (OTC:AMMX),
a provider of heavy equipment to infrastructure, shipping, construction and farming
companies, today reported financial results for its first quarter ended March 31,
2014.
Highlights
for the 2014 First Quarter Ended March 31
The company reported revenue of approximately $ 2.8 million a 241
percent increase when compared to revenue of $830,473 for 2013.
Gross profit for the first quarter was of approximately $1.1
million compared to gross profit of $338,684 for the quarter ended March 31,
2013.
Gross profit margins, as a percentage of revenue, were 40 percent,
compared to gross profit margins of 41 percent for the comparable 2013 quarter.
The company reported a net profit for the quarter of $204,572
compared to net loss of ($121,574) for the first quarter ended March 31, 2013. This is due in part to a decrease in total
operating expenses.
The Balance Sheet showed significant improvements with Total Assets
increasing 85 percent to approximately $1.5 million while Total Liabilities
decreased 30 percent to approximately $1.5 million.
The number of common shares issued and outstanding as of March 31,
2014, was 660,280,879. The number of
restricted shares as of March 31, 2014 was 452,782,441 indicating a float of
207,498,438. The increase in shares
issued and outstanding was due to the repayment of a $325,000 loan made to the
company by AmeraMex CEO Lee Hamre, partial payment of the CFO Kevin Atkin’s
$150,000 salary and payment of $31,000 for 12 months of investor relations
services and associated expenses.
CFO Kevin Atkin commented, “We are pleased with the first quarter
progress and have expectations for continued revenue and net income growth. We incentivize our sales team here and
internationally and have just launched an incentive program within our Parts
Department and Service organization to award personnel for increased profitable
sales of services and parts to our customer base. ”
Atkin continued, “As many of you are aware, our CEO Lee Hamre along
with our Niger partner and three Nigerian officials from the Department of
Transportation are in China finishing due diligence for a recent Memorandum of
Agreement (MOA). We hope to provide an
update next few week as to the outcome of the due diligence and the necessary steps
needed to receive a signed agreement.”
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 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.