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

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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

 

 

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AmeraMex International Reports Third Quarter Financial Results

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AmeraMex International, Inc.

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

 

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AmeraMex International Reports Third Quarter Financial Results

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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:

Marty Tullio

McCloud Communications LLC

949.553.9748

marty@mccloudcommunications.com

 

 

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