CHICO, CA--(Marketwire - August 19, 2010) - AmeraMex International, Inc. (
Second Quarter
The company reported revenue of $165,417 for the quarter with operating loss of ($27,774). The net loss for the quarter was ($99,324), or net loss per share of (0.0003)
Six-Month Period
Revenue for the six-month period ended June 30, 2010 was $1,761,688 with operating income of $197,576. The net loss for the period was ($183,048), or a loss per share of ($0.0006).
AmeraMex CEO Lee Hamre commented, "As anticipated, revenue for the quarter and the six-month period is down significantly when compared to revenue for the second quarter and six-month period of 2009, which was down when compared to 2008. The lack of infrastructure projects and economic difficulties facing our other markets in the U.S. are continuing to hamper sales but we are confident the investment of time and money made in fast growing African countries as well as the Americas will drive revenue to the 2008 level of $23 million by the end of the year. We also believe the projected revenue mix should result in a profitable bottom line."
Tables follow:
| AmeraMex International, Inc. CONDENSED STATEMENT OF OPERATIONS (UNAUDITED) |
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| For the Three-month Period Ended June 30, 2010 | |||||
| Revenue | $ | 165,415 | |||
| Cost of Revenue | 42,684 | ||||
| Gross Profit | $ | 122,731 | |||
| Expenses: | |||||
| Sales, General and Administrative | 122,177 | ||||
| Other | 28,328 | ||||
| Total Expenses | 150,505 | ||||
| Net Income (Loss) from Operations | (27,774 | ) | |||
| Other Expenses and Income | |||||
| Interest | 21,021 | ||||
| Depreciation | 47,234 | ||||
| Income Tax Provision | - | ||||
| Other | 3,300 | ||||
| Total Other Income & Expense | 71,549 | ||||
| Net Income (Loss) | $ | (99,323 | ) | ||
| Basic Earnings (Loss) Per Share | $ | 0.0003 | |||
| Weighted Average Shares Outstanding | 310,000,000 | ||||
| Diluted Earnings (Loss) Per Share | $ | 0 .0003 | |||
| AmeraMex International, Inc. UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS |
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| For the Six-Month Period Ended June 30, 2010 | |||||
| ASSETS | |||||
| CURRENT ASSETS: | |||||
| Cash and Cash Equivalents | $ | 21,787 | |||
| Accounts Receivable | 411,129 | ||||
| Note Receivable | 403,793 | ||||
| Inventories | 711,450 | ||||
| Other Current Assets | 34,911 | ||||
| Total Current Assets | 1,583,069 | ||||
| Fixed Assets | 607,873 | ||||
| TOTAL ASSETS | $ | 2,190,942 | |||
| LIABILITIES AND STOCKHOLDERS' EQUITY | |||||
| CURRENT LIABILITIES | |||||
| Accounts Payable | $ | 753,339 | |||
| Taxes Payable | 388,673 | ||||
| Other Current Payables | 126,875 | ||||
| Total Current Liabilities | 1,268,886 | ||||
| Total Long Term Liabilities | 1,458,823 | ||||
| Total Liabilities | 2,727,709 | ||||
| STOCKHOLDERS' EQUITY | |||||
| Capital Stock | 204,025 | ||||
| Paid-In Capital | 1,974,104 | ||||
| Prior Period Adjustment | 70,426 | ||||
| Retained Earnings (Loss) | (2,594,774 | ) | |||
| Retained Earnings Current Year | (183,048 | ) | |||
| Total Stockholders' Equity | (529,268 | ) | |||
| TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $ | 2,190,942 | |||
About AmeraMex International
AmeraMex International carries a large inventory of heavy equipment, which it sells, leases, and rents to a variety of industries, including the stevedoring, heavy construction, light construction, logging and mining industries. AmeraMex's largest product line is specialized container handling equipment for stevedoring companies that load and offload ships -- from container ships to cruise lines and fishing fleets. AmeraMex has over 30 years of experience in heavy equipment sales and service and carries top-of-the-line equipment from manufacturers such as Taylor Machine Works Inc., Terex Heavy Equipment, and Barko Hydraulics.
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.
Contact Information:
Media and Financial Contact:
Marty Tullio
McCloud Communications LLC
949.553.9748