AmeraMex International Reports Second Quarter Revenue of $4.7 Million with Positive Bottom Line
MOU Sent to Ghana’s Vice President for Review
CHICO, CA – August 27, 2009 – AmeraMex International, Inc. (OTC:AMMX), a provider of heavy equipment to infrastructure, shipping, construction, and mining companies, today reported financial results for its second quarter ended June 30, 2009.
The company reported revenue of $4,727,231 for the quarter, with net income of $102,419, or net income per share of $0.0004. EBITDA (earnings before interest, tax, deprecation and amortization) for the quarter was $226,355, a significant improvement compared to the second quarter of 2008, when the company reported a loss of ($335,705), or a loss per share of ($0.001), and EBITDA of $(180,040). EBITDA is an excellent measurement of a fast-growing company’s operational performance.
“While revenue for the quarter was down approximately $1 million, compared to the second quarter of 2008, we have turned around the bottom line and increased our operational efficiencies,” commented AmeraMex CEO Lee Hamre. “With the economic difficulties facing our target markets in the U.S. it is difficult to project what the next two quarters will bring, but I believe the investment of time we have made in Nigeria and Ghana, along with several other developing countries, will begin to pay off before year end.”
Hamre continued, “This week we developed a memorandum of understanding (MOU) outlining the terms of a program to improve the farming methodology currently used throughout Ghana and other African countries. We believe our proven plan, which uses the latest farming technologies and products, will allow farmers in Ghana to significantly increase crop output. Once we have a signed an MOU from Ghana, the Governor of Idaho will extend an invitation to Ghana’s President and Vice President to visit Walker Farm and view the latest technology and science used by a successful farming company.
“This opportunity would substantially increase revenue over the next five years, as it not only includes a substantial yearly commission, but will generate revenue on 600 plus farming tractors and miscellaneous equipment. As soon as we have an approved MOU and timeline developed for the farming program, we will disseminate a news release. Additionally, as mentioned in a news release disseminated August 18, we are still waiting for a more conclusive MOU for the proposed rail project in Ghana,” added Hamre.
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About AmeraMex International
AmeraMex International carries a large inventory of heavy equipment, which it sells, leases, and rents to a variety of industries, including the stevedoring, heavy construction, light construction, logging and mining industries. AmeraMex’s largest product line is specialized container handling equipment for stevedoring companies that load and offload ships – from container ships to cruise lines and fishing fleets. AmeraMex has over 30 years of experience in heavy equipment sales and service and carries top-of-the-line equipment from manufacturers such as Taylor Machine Works Inc., Terex Heavy Equipment, and Barko Hydraulics.
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.
Media and Financial Contact:
McCloud Communications LLC
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