-- Sales for fiscal 2006 were approximately $16.8 million. -- Gross profit for the year was approximately $1.8 million, with a gross profit margin of approximately 10.7 percent. -- EBITDA (earnings before interest, tax, deprecation and amortization and an effective means of measuring fast growing companies) was approximately $621,552. -- Net loss for the year was approximately $71,724."Sales for the year were affected by management's finalization of the acquisition and integration of the two companies," said AmeraMex CEO and President Lee Hamre. "The expenses associated with the acquisition, including the public entity, legal and accounting fees, were approximately $300,000 and had a significant effect on the bottom line for the year," added Hamre. 2007 Six-Month Financial Highlights
-- Sales for the first six months of fiscal 2007, ended June 30, were $6,992,236.Historically, revenues in the heavy equipment sales and rental segment increase more rapidly in the second and third quarters, as heavy construction and infrastructure projects commence in the early summer and reach completion in late fall. Selling to stevedoring companies has assisted in a more balanced flow of revenue.
-- Gross profit for the period was $856,419, with a gross profit margin of approximately 12.2 percent. -- EBITDA was approximately $253,497. -- The company reported a net loss for the six-month period of $26,940.The loss for the period was due in part to the legal and accounting expenses associated with the acquisition of Las Vegas-based Sierra Industrial Equipment (SIE). Completed in July 2007, the acquisition expanded AmeraMex's geographical reach to include Las Vegas and surrounding areas. Currently, SEI has over 80 customers representing more than 300 units of equipment. Traditionally, Sierra has focused on the servicing of heavy equipment, and with the addition of the AmeraMex product lines, will rapidly begin to expand its sales department. "We expect to report revenues of approximately $19 million for fiscal 2007," commented Hamre. "During the month of July, we have recorded $9.4 million in orders scheduled to ship during 2007, and expect to continue building our backlog over the next five months. Additionally," continued Hamre, "we expect SIE to generate revenue of approximately $500,000 for the remainder of the year."
AmeraMex International, Inc. CONDENSED STATEMENT OF OPERATIONS (UNAUDITED) Six Months Ended June 30, 2007 --------------- SALES $ 6,992,236 COST OF SALES 6,135,817 Gross Profit 856,419 EXPENSES: Selling 91,002 General and administrative 792,357 Total Expenses 883,359 NET INCOME (LOSS) $ (26,940) BASIC EARNINGS (LOSS) PER SHARE $ (0.00) WEIGHTED AVERAGE SHARES OUTSTANDING 262,000,000 DILUTED EARNINGS (LOSS) PER SHARE $ (0.00) WEIGHTED AVERAGE SHARES OUTSTANDING ASSUMING DILUTION 262,000,000 AmeraMex International, Inc. UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS Six Months Ended June 30, 2007 --------------- ASSETS CURRENT ASSETS: Cash and cash equivalents $ 23,651 Accounts receivable, net 366,303 Inventories 3,036,278 Prepaid assets 16,929 Notes receivable 403,797 Sales draw 6,420 Total Current Assets 3,853,378 Fixed Assets 839,012 Other Assets 131,158 TOTAL ASSETS $ 4,823,548 LIABILITIES AND STOCKHOLDERS' EQUITY CURRENT LIABILITIES Accounts payable $ 2,050,694 Notes payable 350,937 Accrued expenses and other liabilities 71,898 Short-term portion of long-term debt 657,586 Total Current Liabilities 3,131,116 Total Long-Term Liabilities 406,635 Total Liabilities 3,537,751 STOCKHOLDERS' EQUITY Paid-in capital 1,375,304 Additional paid-in capital/AMMX 802,825 Retained earnings (loss) (892,332) Total Stockholders' Equity 1,285,796 TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 4,823,548About 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.
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