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AmeraMex International Reports Third Quarter Revenue of $1.4 Million and Gross Profit Margin of 55 Percent

Nov 18, 2013

AmeraMex International Reports Third Quarter Revenue of $1.4 Million and Gross Profit Margin of 55 Percent

 Shareholder conference call to be held mid-January

 

CHICO, CA – November 18 , 2013 – 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 and nine-month period, ended September 30, 2013. 

        Three-month revenue up 266 percent

        Three-month gross margin increased 55 percent

        Shareholder conference call to be held mid-January

Third Quarter, Ended September 30, 2013

The company reported revenue of approximately $1.4 million, a 266 percent increase when compared to revenue of $.513 million for the third quarter of 2012. Gross profit for the quarter was approximately $.756 million compared to gross profit of $.487 million for the third quarter of 2012. 

Gross profit margin, as a percentage of revenue, was 55 percent, a significant increase when compared to gross profit margins of 9 percent for the comparable quarter in 2012. Improved margins are due in part to product mix (new vs. refurbished) and contract services. 

The company reported net income for the quarter of $.113 million compared to a net loss for the 2012 quarter of $.156 million.  The increase is due in part to increased profit margins and maintaining a close watch over operating expenses.  

Nine-Month Period Ended September 30, 2013 

Revenue for the nine-month period was approximately $3.1 million compared to revenue of $2.3 million for the comparable 2012 period.                                                                            

Gross profit for the period was approximately $1.8 million compared to $1.5 million for the 2012 nine-month period.  Profit margins as a percentage of revenue were 57 percent, compared to profit margins of 64 percent for the 2012 nine-month period. 

The company reported net income of $.431 million for the period, versus a net loss of $.300 million for the comparable period in 2012. 

AmeraMex CEO Lee Hamre commented, “Approximately two months ago we purchased 18 large container handlers.  To date, we have transferred all of the handlers to our refurbishing facility in Chico and the first two machines have been refurbished and shipped to a customer.  With 16 handlers remaining, our shop will be diligently working throughout the winter months as we build our inventory of refurbished container handlers for transporting both loaded and unloaded containers. We expect to keep our sales people busy finding buyers for the equipment.”  

Hamre continued, “As seen in our third quarter gross profit margins, refurbished equipment carries much better margins than new equipment and with an increasing inventory of refurbished equipment, we expect to finish the year with a strong fourth quarter and continue the trend into 2014.  Recent contact with our potential North African customer indicates that we are closing in on our first large contract in Africa.  The management team is excited about the growth and future of the company and we all look forward to discussing 2014 plans in a January 2014 conference call.”

 

To view the Balance Sheet and Income Statement, please click on the attachment.