AmeraMex International Reports Third Quarter Financial Results

 Third Quarter Revenue Increased 30 Percent Over Comparable Quarter

 

CHICO, CA – September 19, 2010 – AmeraMex International, Inc. (OTC:AMMX), a provider of heavy equipment to infrastructure, shipping, construction and farming companies, today reported financial results for its third quarter, ended September 30, 2010.

 Third Quarter, Ended September 30, 2010

The company reported revenue of $826,489 for the quarter, a 30 percent increase when compared to revenue of $635,344 for the third quarter of 2009. The net loss for the quarter was ($110,654), or net loss per share of (0.0004), compared to a net loss of ($315,652) for the 2009 period. This improved bottom line is due in part to product mix, which includes used equipment or depreciated equipment, and selling into the international marketplace.

 Nine-Month Period Ended September 30, 2010

Revenue for the nine-month period was $2,588,178. The net loss for the period was ($294,949), or a loss per share of $0.0007.

 AmeraMex CEO Lee Hamre commented, “We are very pleased with our potential order pipeline and are making tremendous progress on several projects in Africa. International sales takes so much longer than anticipated, as we must use letters of credit and have funding in place before a contract can be negotiated and signed. We remain confident that we will be announcing the closure of high-profile contracts in the near future and appreciate the continued support of our shareholders. ”

                               Please click on the attached PDF to read the news release in full with the financial tables

 

 

 

 

 

 

 

 

 

 

 

AmeraMex International Reports Third Quarter Financial Results

Page 2

 

 

AmeraMex International, Inc.

CONDENSED STATEMENT OF OPERATIONS

(UNAUDITED)

 

 

 

For the Three-Month

Period Ended

September 30, 2010

For the Nine-Month

Period Ended

September 30, 2010

 

   Revenue      

    $   826,489

    $  2,588,178

 

 

 

   

    Cost of Revenue     

         521,784 

  

        1,614,266 

  

  Gross Profit

         304,705

                              

           973,912

 

 

 

    

   Expenses:

 

 

 

      Sales, General and

      Administrative

          342,692

          443,015

      Other

            23,408

          136,454

    Total Expenses       

          366,100

       1,071,971

 

 

 

    Net Income (Loss) from 

    Operations  

           (61,395)

          (98,059)

 

 

 

 Other Expenses and Income

          

          

   Interest Expense

              1,909

           42,293

   Depreciation

            51,020

         196,680

   Income Tax Provision

                 

             2,021   

   Other

            (3,669)        

          (44,103)

 

 

 

Total Other Income & Expense

           49,260 

          196,891 

 

 

 

 Net Income (Loss)

    $  (110,655)

    $   (294,949)

 

 

 

Basic Earnings (Loss) Per  Share 

    $       0.0003    

    $       0.0007    

   Weighted Average Shares   

   Outstanding

        379,251,000

        379,251,000

 

 

 

   Diluted  Earnings (Loss) Per

   Share

  $        0 .0003   

  $        0 .0007   

 

 

 

 

 

– more –

 

 

 

 

 

 

 

AmeraMex International Reports Third Quarter Financial Results

Page 3

 

AmeraMex International, Inc.

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

 




 

For the Nine-Month

Period Ended

June 30, 2010

ASSETS

 

 

 

 

CURRENT ASSETS:

 

 

  Cash and Cash Equivalents  

$                        83,985

 

  Accounts Receivable 

                        377,716

 

  Note Receivable

                        440,197

 

  Inventories   

                        549,336

 

  Other Current Assets

                           8,606

 

 

 

 

Total Current Assets   

                      1,459,841         

 

 

 

Fixed Assets   

                         557,653         

 

 

 

 

TOTAL ASSETS 

$                    2,017,493         

 

 

 

LIABILITIES AND STOCKHOLDERS’ EQUITY

 

 

 

 

CURRENT LIABILITIES

 

 

  Accounts Payable      

$                       919,755

 

  Taxes Payable          

                         339,417

 

  Other Current Payables

                         195,130

 

 

 

 

Total Current Liabilities           

                      1,454,301

 

 

 

Total Long Term Liabilities

                      1,204,360

 

 

 

 

Total Liabilities

                      2,658,661         

 

 

 

STOCKHOLDERS’ EQUITY

 

 

           

                    

 

  Capital Stock

                        204,025

 

  Paid-In Capital

                     1,974,104

 

  Prior Period Adjustment

                          70,426

 

  Retained Earnings (Loss)      

                    (2,594,774)

 

  Retained Earnings Current Year       

                       (294,949)

 

 

 

 

Total Stockholders’ Equity       

                       (641,168)   

 

 

 

TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY           

                                               $               2,017,493

 

-more-

 

 

 

 

AmeraMex International Reports Third Quarter Financial Results

Page 4

 

 

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:

Marty Tullio

McCloud Communications LLC

949.553.9748

marty@mccloudcommunications.com

 

 

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