AmeraMex International Reports Third Quarter Revenue of $2.2 Million and Revenue of $6.1 Million for the Nine-Month Period
AMMX .017X .0196
AMMX
CHICO, CA--(Marketwired - Nov 14, 2014) - AmeraMex International, Inc. (PINKSHEETS: 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, 2014.
•Three-month revenue up 57 percent
•Six-month revenue up 97 percent
•Shareholder conference calls to be held quarterly
Third Quarter Ended September 30, 2014
The company reported revenue of approximately $2.2 million, a 57 percent increase when compared to revenue of approximately $1.4 million for the third quarter of 2013. Gross profit for the quarter was approximately $1.1 million compared to gross profit of $.756 million for the third quarter of 2013.
The company reported net income for the quarter of $.317 million a significant increase when compared to net income of $.112 million for the 2013 quarter.
Highlights for the Third Quarter
•Received a forklift order for $350,000.
•Received a $484,000 freight contract to relocate customer equipment. Customer increased contract value by $120,000 to include refurbishment of equipment.
•Sold two container handlers for $420,000.
•Purchased container handlers for refurbishment -- retail value approximately $600,000.
•Awarded bids totaling $500,000 to provide refurbished container handlers to customers in Central America.
•Acquired container handlers with retail value of $2.5 million.
•Receives $260,000 order for loaded container handlers from customer in Mexico.
•$200 million Niger Agreement moves closer to final financing.
Nine-Month Period Ended September 30, 2014
Revenue for the nine-month period was approximately $6.1 million, a 97 percent increase when compared to revenue of $3.1 million for the comparable 2013 period.
The company reported net income of approximately $.598 million for the period, a 39 percent increase when compared to a net income of approximately $.431 million for the comparable period in 2013.
AmeraMex International, Inc.
Condensed Statement of Operations
(Unaudited)
Nine Months Ended Three Months Ended
9/30/2013 9/30/2014 9/30/2013 9/30/2014
Sales $ 3,112,122 6,123,527 $ 1,367,355 $ 2,245,371
Cost Of Sales 1,325,455 3,295,696 611,217 1,140,025
Gross Profit 1,786,667 2,827,831 756,138 1,105,346
Expenses
Operating 1,242,450 1,605,492 532,946 599,879
SG&A 291,620 599,159 106,644 175,239
Total Expenses 1,534,070 2,204,651 639,590 775,118
Net Income(Loss)
from Operations 252,597 623,180 116,548 330,228
Other Income, Expense, Depreciation 179,028 (25,167 ) (3,919 ) (13,222 )
Income Tax 800 0 0 0
Net Income(Loss) $ 430,825 598,013 $ 112,629 317,006
Basic and Diluted Earnings (Loss) per Share 0 0
Weighted Average Shares Outstanding 478,677,215 660,280,879 478,677,215 660,280,879
Ameramex International, Inc.
Consolidated Balance Sheets (Unaudited)
September 30, 2014
ASSETS
Current Assets:
Cash & Equivalent 562,142
Note Rec. 18,965
Acct. Receivable 503,898
Inventory 1,159,957
Total Current Asset 2,244,962
Fixed Asset Net 294,429
Other Asset 145,608
Total Asset 2,685,000
LIABILITIES AND STOCKHOLDERS EQUITY
Current Liability
Acct. Payable 893,848
Taxes Payable 0
Other 472,059
Total Current Liabilities 1,365,907
Total Long term Liabilities 842,803
Total Liability 2,208,710
STOCKHOLDERS EQUITY
Capital Stock 1,974,528
Paid-In Capital 251,293
Retained Earnings (Loss) (2,347,548)
Retained Earning Current Year 598,016
Total Stock Equity 476,290
TOTAL LIABILITY & STOCKHOLDER EQUITY 2,685,000
Total Shares Issued and Outstanding: 660,280,879 as of September 30, 2014
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