AmeraMex International Reports Second Quarter Revenue of $1.3 Million
Financial Conference Call August 19th at 11:00 a.m. Pacific
CHICO, CA -- (Marketwired) -- 08/19/15 -- AmeraMex International, Inc. (OTC PINK: AMMX), a provider of heavy equipment to infrastructure, shipping, construction, farming and mining companies, today reported financial results for its second quarter ended June 30, 2015.
Highlights for the Six-month Period
- Secures order for $150,000
- Signs $2.1 million equipment contract
- Enters into five-year rental agreement totaling $837,000
- Receives rental agreements totaling $200,000 per year
- Inks heavy equipment purchase order for $180,000
- Sells loaded container handlers for $360,000
- Obtains $450,000 in equipment orders
Second Quarter Ended June 30, 2015 The company reported revenue of $1,278,008 compared to revenue of $1,042,041 for the second quarter of 2014. Net income for the quarter was $252,799 compared to net income of $85,954 for the second quarter of 2014. Gross profit, as a percentage of sales, was 63 percent compared to 57 percent for the comparable 2014 period.
Six-Month Period Ended June 30, 2015 Revenue for the six-month period was $2,213,206 compared to revenue of $3,878,155 reported for the comparable six-month period of 2014. Gross profit margin, as a percentage of sales, was 61 percent. The company reported net income of $221,456, compared to net income of $281,009 for the six-month period in 2014.
The conference call dial-in number for both U.S. and international callers is 1.719.325.2464. An audio replay of the conference call will be available from August 19, 2015 at 5:00 p.m. Eastern until September 2, 2015 at 11:59 p.m. Eastern. The replay can be accessed by dialing 1.719.325.2464 and entering conference pin number 8188772
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.
Safe Harbor Statement Except for the historical information contained herein, statements discussing sales or revenue projections are forward-looking and 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.
AmeraMex International, Inc.
CONDENSED STATEMENT OF OPERATIONS
(UNAUDITED)
For the For the For the Six- For the Six-
Three-month Three-month month Period month Period
Period Ended Period Ended Ended Ended
June 30, June 30, June 30, June 30,
2014 2015 2014 2015
Sales $ 1,042,041 $ 1,278,008 $ 3,878,155 $ 2,213,206
Cost of Sales 445,692 477,701 2,155,670 863,917
Gross Profit 596,349 800,307 1,722,485 1,349,290
Expenses:
Operating 375,046 321,764 1,005,612 520,151
SG&A 135,349 225,744 423,920 520,835
Total Expenses 510,395 547,508 1,429,532 1,040,986
Net Income (loss)
from Operations 85,954 252,799 292,954 308,304
Other Income,
Expense,
Depreciation (9,519) (49,747) (11,945) (85,401)
Income Tax - 1,446 - 1,446
Net Income (Loss) $ 76,435 $ 201,606 $ 281,009 $ 221,456
Basic Earnings (Loss)
Per Share 0 0 0 0
Weighted Average
Shares Outstanding 660,280,879 660,280,879 660,280,879 660,280,879
Diluted Earnings
(Loss) Per Share 0 0 0 0
AmeraMex International, Inc.
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
Second Quarter 2015
CURRENT ASSETS
Cash and cash equivalents $ 32,746
Accounts receivable 401,280
Other Current Assets 18,874
Inventory 1,099,289
Cash surrender value of life insurance 145,608
-------------
Total current assets 1,697,797
PROPERTY AND EQUIPMENT
Furniture and equipment 20,212
Machines and equipment 579,936
Office equipment 26,143
Leasehold Improvements 334,538
Vehicles 312,176
-------------
1,273,005
Less accumulated depreciation (707,203)
-------------
565,802
-------------
$ 2,263,599
-------------
CURRENT LIABILITIES
Current maturities of long-term debt $ 121,206
Accounts payable 746,023
Credit Cards 43,283
Current Liabilities 83,800
Current Sales Tax Accrued 12
-------------
Total current liabilities 994,324
-------------
LONG-TERM DEBT, less current maturities 1,585,229
-------------
DEFERRED TAXES -
-------------
STOCKHOLDER'S EQUITY
Capital stock 586,565
Additional paid in capital 1,561,184
Retained earnings (deficit) (2,463,703)
-------------
(315,954)
-------------
$ 2,263,599
-------------
Shares Issued and Outstanding 660,280,879
Media and Financial Contact: Marty Tullio McCloud Communications LLC 949.632.1900 Email Contact
Source: AmeraMex International
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