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Year End Financial Update Provided by AmeraMex International

Mar 31, 2011

 

Year EndFinancial Update Provided by AmeraMex International

Gross Margins for the Fourth Quarter Top 70 Percent

CHICO, CA – March 31, 2011 – AmeraMex International, Inc. (OTC: AMMX), a provider of heavy equipment to infrastructure construction companies and companies in the logistics (stevedoring and shipping) and mining industries, today provided a shareholder update and financial results for the year, ended December 31, 2010.

Current Highlights:

  • During the first quarter of 2011, the company received orders in excess of $1 million from international infrastructure construction and logistics companies located in Africa, South and Central America, and Canada.

  • Order pipeline is strong going into the second quarter of 2011. 

  • African projects continue to grind through red tape with anticipated closure in second quarter.  

  • A highly respected auditing firm retained to perform two-year audit, mandatory for fully reporting public company classification. The audit is scheduled to commence mid–April and conclude in September. 

AmeraMex President and CEO Lee Hamre commented, “2010 was a challenging year domestically, so we took advantage of international opportunities. International relationships and sales take longer to develop, but present excellent ongoing order flow. Our international customers primarily order refurbished equipment, which provides considerably better gross profit margins than new equipment sold in the U.S.”  

Hamre continued, “Some of these opportunities, which currently involve the company with a number of partners, are expected to directly and indirectly boost the company's sales of heavy equipment and provide various commissions and finders fees during 2011. We are off to a good start for the year and expect revenue to increase on a quarterly basis.” 

For the year ended December 31, 2010, the company reported revenue of approximately $3.4 million and a net loss of ($322,503), or a loss per share of ($0.000), compared to revenue of $8.3 million and a net loss of $501,451 for 2009. A significant amount of revenue reported in the first quarter of 2009 was generated by orders received in 2008. As there is generally a lead time on new equipment orders, a portion of the new equipment on the 2008 order shipped to U.S. companies in 2009. AmeraMex does not book revenue until equipment ships.

EBITDA for the year was ($67,634), a 46 percent improvement over that of 2009. EBITDA, earnings before interest, taxes, depreciation and amortization, is an accepted industry tool to measure the fundamentals of growth companies. 

AmeraMex will host its second shareholder conference call in April to discuss the highlights of 2010 and the milestones set for 2011. A news release announcing the conference call date, time and dial-in information will be publicly disseminated shortly.

TO READ THIS NEWS RELEASE IN ITS ENTIRETY, INCLUDING THE FINANCIAL TABLES, PLEASE OPEN THE ATTACHMENT.

About AmeraMex International
AmeraMex International sells, leases, and rents heavy equipment to companies within four industries: construction (light and infrastructure), shipping, mining and logging. AmeraMex'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 North America, South America, Africa, Asia, and Eastern Europe, has over 30 years of experience in heavy equipment sales and service and inventories top-of-the-line equipment from manufacturers such as Taylor Machine Works Inc. and Terex Heavy Equipment.  For more information, please visit the company's website:  www.ammx.net.

 
 
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

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