AmeraMex International Reports Revenue of $2.8 Million -- a 241 Percent Increase
CHICO, May 16, 2014 (GLOBE NEWSWIRE via COMTEX) -- AmeraMex International, Inc. (OTC:AMMX), a provider of heavy equipment to infrastructure, shipping, construction and farming companies, today reported financial results for its first quarter ended March 31, 2014. Highlights for the 2014 First Quarter Ended March 31
- The company reported revenue of approximately $ 2.8 million a 241 percent increase when compared to revenue of $830,473 for 2013.
- Gross profit for the first quarter was of approximately $1.1 million compared to gross profit of $338,684 for the quarter ended March 31, 2013.
- Gross profit margins, as a percentage of revenue, were 40 percent, compared to gross profit margins of 41 percent for the comparable 2013 quarter.
- The company reported a net profit for the quarter of $204,572 compared to net loss of ($121,574) for the first quarter ended March 31, 2013. This is due in part to a decrease in total operating expenses.
- The Balance Sheet showed significant improvements with Total Assets increasing 85 percent to approximately $1.5 million while Total Liabilities decreased 30 percent to approximately $1.5 million.
The number of common shares issued and outstanding as of March 31, 2014, was 660,280,879. The number of restricted shares as of March 31, 2014 was 452,782,441 indicating a float of 207,498,438. The increase in shares issued and outstanding was due to the repayment of a $325,000 loan made to the company by AmeraMex CEO Lee Hamre, partial payment of the CFO Kevin Atkin's $150,000 salary and payment of $31,000 for 12 months of investor relations services and associated expenses.
CFO Kevin Atkin commented, "We are pleased with the first quarter progress and have expectations for continued revenue and net income growth. We incentivize our sales team here and internationally and have just launched an incentive program within our Parts Department and Service organization to award personnel for increased profitable sales of services and parts to our customer base."
Atkin continued, "As many of you are aware, our CEO Lee Hamre along with our Niger partner and three Nigerian officials from the Department of Transportation are in China finishing due diligence for a recent Memorandum of Agreement (MOA). We hope to provide an update next few week as to the outcome of the due diligence and the necessary steps needed to receive a signed agreement."
AmeraMex International, Inc Consolidated Income Statement (Unaudited)
3 Months Ended 3 Months Ended March 31, 2013 March 31, 2014
Other Income, Expense, Depreciation (7,264) (2,426)
Income Tax Provision -- --
Net Income (Loss) $ (121,574) $ 204,572
AmeraMex International, Inc. Condensed Consolidated Balance Sheet as of March 31, 2014 Unaudited ASSETS Current Assets: Cash & Equivalent 323,879 Note Rec. 19,258 Acct. Receivable 371,626 Inventory 631,078 Total Current Asset 1,345,841
Fixed Asset Net 42,497 Other Asset 145,608 Total Asset $ 1,533,947
LIABILITIES AND STOCKHOLDERS EQUITY
Current Liability Acct. Payable 322,435 Taxes Payable 106,059 Other 244,180 Total Current Liabilities 672,674
Total Long Term Liabilities 816,991
Total Liability $ 1,489,665
STOCKHOLDERS EQUITY
Capital Stock 1,832,862 Paid-In Capital 647,138 Retained Earning (Loss) (2,640,292) Retained Earning Current Year 204,573 Total Stock Equity 44,282
TOTAL LIABILITY & STOCKHOLDER EQUITY $ 1,533,947
Total shares issued and outstanding 660,280,879
About AmeraMex International AmeraMex International sells, leases and rents heavy equipment to companies within four industries: construction (light and infrastructure), shipping logistics, mining and commercial farming. AmeraMex International'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 the Americas, Africa, Asia and Eastern Europe, has over 30 years of experience in heavy equipment sales and service and maintains an inventory of top-of-the-line equipment and parts from manufacturers such as Taylor Machine Works Inc. and Terex Heavy Equipment. For more information visit the AmeraMex website, www.AMMX.net orwww.hamreequipment.com.
Safe Harbor Statement
Except for the information contained herein, the matters discussed are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. These statements involve risks and uncertainties that could cause actual results to differ materially from any forward-looking statements made herein.
CONTACT: Media and Financial Contact: Marty Tullio McCloud Communications LLC 949.632.1900 marty@mccloudcommunications.com
(C) Copyright 2014 GlobeNewswire, Inc. All rights reserved.
-0- KEYWORD: CHICO INDUSTRY KEYWORD: Construction and Engineering SUBJECT CODE: Earnings Releases and Operating Results TRANSPORTATION EARNINGS LOGISTICS
News 
Market Data 
Discover 
AI
