AMMX.0126.HUGE NEWS OUT.REVENUE $7,3 MIL.AND 800$K IN NET INCOME FOR THE YEAR.THIS IS ABSOLUTELY HUGE:)))CHECK BOLD.
CHICO, CA--(Marketwired - Apr 13, 2015) - AmeraMex International, Inc. (OTC PINK: AMMX), a provider of heavy equipment to infrastructure, shipping, logging and construction companies, today reported financial results for its financial year ended December 31, 2014.
Highlights for the Year Ended December 31, 2014
Revenue for 2014 Increased 24 Percent; Gross Profit Increased 46 Percent
The company reported revenue of approximately $7.3 million with gross profit of $3.6 million compared to revenue of approximately $5.9 million with gross profit of $2.4 million for the year ended December 31, 2013.
Net Income Increased 73 Percent
The company reported a net income for the year of approximately $.801 million compared to net income of $.463 million for the year ended December 31, 2013. This is due in part to a significant decrease in cost of sales.
Stronger Balance Sheet
Total Liabilities decreased by 30 percent from approximately $3.3 million in 2013 to approximately $2.3 million in 2014.
AmeraMex CEO Lee Hamre commented, "We are continuing to increase our revenue while improving our cost of goods sold thanks to sustained growth in our core business, which includes refurbished equipment. We are working diligently on our pipeline of business in Africa and anticipate closing our first large order in the near future. While sustaining revenue growth is a necessity, it is equally important that we present a strong balance sheet to shareholders and potential customers. With that said, we were able to decrease our Accounts Payable by almost a million dollars in 2014 and our overall Total Liabilities by 30 percent."
Hamre continued, "I have just returned from Niger and expect to provide an update regarding our trip during the Shareholder Conference Call scheduled April 21st at 11:00 a.m. PT and 2:00 p.m. ET."
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AmeraMex International, Inc.
Condensed Consolidated Balance Sheet
December 31, 2014
(unaudited)
ASSETS
Current Assets:
Cash & Equivalent $ 163,614
Note Receivable 36,447
Accounts Receivable 585,991
Inventory 923,201
Total Current Assets $ 1,709,253
Fixed Asset Net 700,553
Other Asset 145,608
Total Assets $ 2,555,414
LIABILITIES AND STOCKHOLDERS EQUITY
Current Liability
Acct. Payable $ 783,086
Taxes Payable 157,265
Other 299,404
Total Current Liabilities $ 1,239,754
Total Long term Liabilities $ 1,055,895
Total Liability $ 2,295,650
STOCKHOLDERS EQUITY
Capital Stock $ 586,565
Paid-In Capital 1,241,035
Retained Earnings (Loss) (2,369,294 )
Retained Earnings Current Year 801,458
Total Stock Equity 259,766
TOTAL LIABILITY & STOCKHOLDER EQUITY $ 2,555,414
Total Number of Shares Issued and Outstanding: 664.9 million
AmeraMex International, Inc.
Consolidated Income Statement
(Unaudited)
For the Period Ended December 31, 2013 For the Period Ended December 31, 2014
Sales $ 5,863,948 $ 7,255,178
Cost of Sales 3,424,155 3,684,990
Gross Profit 2,439,793 3,570,188
Expenses:
Operating Expenses 2,126,407 2,901,372
Total Expenses 2,126,407 2,901,372
Net Income (loss) from Operations
313,386
668,816
Other Income and Expenses
Income Tax Provision 800 -
Misc. Income 173,305 182,686
Depreciation (22,490 ) (50,044 )
Net Income (Loss) $ 463,401 $ 801,458
Basic Earnings (Loss) Per Share
0.000
0.000
Weighted Average Shares Outstanding
520.1
664.9
Diluted Earnings (Loss) Per Share
0.000
0.001
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