CHICO, CA--(Marketwire - Apr 3, 2012) - AmeraMex International, Inc. (
Current Highlights:
- The two-year audit is expected to be finalized shortly. The 2011 year end had to be completed before finalizing the audit.
- Order pipeline is strong going into the second quarter of 2012.
- African projects continue to grind through red tape with anticipated news in second quarter.
AmeraMex President and CEO Lee Hamre commented, "2011 was a better year with the majority of revenue being generated internationally. International relationships are beginning to flourish and we are experiencing reorders from customers, especially in South America. These customers primarily order refurbished equipment, which provides considerably better gross profit margins than new equipment."
For the year ended December 31, 2011, the company reported revenue of approximately $5.2 million, a 53 percent increase, when compared to revenue of $3.4 million for 2010. Net profit for the year was $152,850, compared to a net loss of ($322,503) for 2010 -- a significant improvement.
EBITDA for the year was $454,625, a considerable increase when compared to EBITDA of ($67,634) for 2010. EBITDA, earnings before interest, taxes, depreciation and amortization, is an accepted industry tool to measure the fundamentals of growth companies.
| AmeraMex International, Inc. | |||||||||||
| CONDENSED STATEMENT OF OPERATIONS | |||||||||||
| (UNAUDITED) | |||||||||||
| 12 Months Ended | 12 Months Ended | ||||||||||
| December 31, 2011 | December 31, 2010 | ||||||||||
| REVENUE | |||||||||||
| Total Revenue | $ | 5,222,934 | $ | 3,358,973 | |||||||
| COST OF SALES | |||||||||||
| Total Cost of Sales | $ | 3,041,888 | $ | 1,473,682 | |||||||
| GROSS MARGIN | |||||||||||
| $ | 2,181,046 | $ | 1,885,291 | ||||||||
| OPERATING EXPENSE | |||||||||||
| SG&A | $ | 1,817,617 | $ | 1,952,925 | |||||||
| Depreciation | $ | 153,883 | $ | 247,700 | |||||||
| Total Operating Expense | $ | 1,971,500 | $ | 2,200,625 | |||||||
| OPERATING INCOME (LOSS) | $ | 209,546 | $ | (315,334 | ) | ||||||
| OTHER INCOME AND EXPENSE | |||||||||||
| Interest | $ | (57,346 | ) | $ | 49,251 | ||||||
| Tax Credit | - | - | |||||||||
| Income Tax Provision | $ | (16,600 | ) | $ | 2,021 | ||||||
| Other | - | $ | (44,103 | ) | |||||||
| Total Other Income (Expense) | $ | (73,946 | ) | $ | (7,169 | ) | |||||
| NET INCOME (LOSS) | $ | 135,600 | $ | (322,504 | ) | ||||||
| Basic Earnings (Loss) Per Share | $ | 0.00 | $ | 0.00 | |||||||
| Weighted Average Shares Outstanding | 388,677,215 | 379,251,000 | |||||||||
| Diluted Earnings (Loss) Per Share | $ | 0.00 | $ | 0.00 | |||||||
| AmeraMex International, Inc. Unaudited Consolidated Balance Sheet |
|||||||
| For the 12-Month Period ended December 31, 2011 | |||||||
| ASSETS | |||||||
| Current Assets | |||||||
| Cash | $ | 83,852 | |||||
| Accounts Receivable | $ | 632,700 | |||||
| Note Receivable | $ | - | |||||
| Inventory | $ | 676,367 | |||||
| Other Current Assets | $ | 13,477 | |||||
| Total Current Assets | $ | 1,406,396 | |||||
| Non Current Assets | |||||||
| Investments | $ | 137,445 | |||||
| Property, Plant & Equip. | $ | 2,245,722 | |||||
| Less Accum Depreciation | $ | (2,025,716 | ) | ||||
| Total Non Current Assets | $ | 357,451 | |||||
| TOTAL ASSETS | $ | 1,763,847 | |||||
| LIABILITIES | |||||||
| Current Liabilities | |||||||
| Purchase Orders | $ | 668,448 | |||||
| Accounts Payable | $ | 766,733 | |||||
| Taxes Payable | $ | 210,706 | |||||
| Other Current Payables | $ | 84,944 | |||||
| Total Current Liabilities | $ | 1,730,831 | |||||
| Non Current Liabilities | |||||||
| Notes Payable | $ | 750,042 | |||||
| TOTAL LIABILITIES | $ | 2,480,873 | |||||
| EQUITY | |||||||
| Capital Stock | $ | 204,025 | |||||
| Additional Paid in Capital | $ | 1,768,352 | |||||
| Prior Period Adj. | $ | 70,426 | |||||
| Retained Earnings (Prior) | $ | (2,895,429 | ) | ||||
| Retained Earnings (Current) | $ | 135,600 | |||||
| Total | $ | (717,026 | ) | ||||
| TOTAL LIABILITIES & EQUITY | $ | 1,763,847 | |||||
| Shares issued & Outstanding | 388,677,215 | ||||||
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 inventories top-of-the-line equipment from manufacturers such as Taylor Machine Works Inc. and Terex Heavy Equipment. For more information visit the AmeraMex website, www.AMMX.net.
Forward-looking Statements
Except for the historical information contained herein, the matters discussed pertaining to equipment orders and future revenue 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 Information:
Media and Financial Contact:
Marty Tullio
McCloud Communications LLC
949.553.9748