|By Marketwired .||
|August 12, 2013 10:56 AM EDT||
CHICO, CA -- (Marketwired) -- 08/12/13 -- AmeraMex International, Inc. (PINKSHEETS: 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, 2013.
Second Quarter Ended June 30, 2013
The company reported revenue of $878,413 compared to revenue of $1,280,428 for the second quarter of 2012. Net income for the quarter was $272,218 compared to net income of $435,705 for the second quarter of 2012. Gross profit, as a percentage of sales, was 77 percent compared to 73 percent for the comparable 2012 period.
Revenue for the six-month period was $1,382,306 compared to revenue of $1,991,439 reported for the comparable six-month period of 2012. Gross profit margins, as a percentage of sales, increased 17 percent for the six-month period when compared to gross profit margins for the period ending June 2012. The company reported net income of $342,206, a 92 percent increase when compared to net income of $26,744 for the six-month period in 2012.
AmeraMex CEO Lee Hamre commented, "With the end of Ramadan, the prime minister in North Africa said they will be aggressively working on the formation of the equipment contract we discussed in our July 9, 2013 press release. We look forward to receiving the contract and supplying the corresponding proposal as quickly as possible.
"We are also bidding on a variety of used equipment for refurbishment and resale into both the U.S., and international markets," continued Hamre. We expect notification pertaining to our recent $2 million bid to a West Coast port authority. This notification was delayed due to their vacation schedules."
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
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.
AmeraMex International, Inc. CONDENSED STATEMENT OF OPERATIONS (UNAUDITED) For the For the For the For the Three-month Three-month Six-month Six-month Period Ended Period Ended Period Ended Period Ended June 30, June 30, June 30, June 30, 2013 2012 2013 2012 Sales $ 878,413 $ 1,280,428 $ 1,382,306 $ 1,991,439 Cost of Sales 199,725 341,070 400,814 822,132 Gross Profit 678,688 939,358 981,492 1,169,307 Expenses: Operating 314,240 420,716 637,745 922,183 SG&A 92,230 82,937 183,690 186,592 Total Expenses 406,470 503,653 821,435 1,108,775 Net Income (loss) from Operations 272,218 435,705 160,057 60,532 Other Income, Expense, Depreciation 184,741 (14,958) 182,949 (32,959) Income Tax 800 - 800 829 Net Income (Loss) $ 456,741 $ 420,747 $ 342,206 $ 26,744 Basic Earnings (Loss) Per Share 0 0 0 0 Weighted Average Shares Outstanding 478,677,215 388,677,215 478,677,215 388,677,215 Diluted Earnings (Loss) Per Share 0 0 0 0 AmeraMex International, Inc. UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS Second Quarter 2013 ASSETS Current Assets: Cash & Equivalent 227,973 Note Rec. 8,500 Accounts Receivable 109,669 Inventory 572,461 ------------- Total Current Asset 918,603 Fixed Asset Net 51,718 Other Asset 111,892 Total Asset 1,082,213 ============= LIABILITIES AND STOCKHOLDERS EQUITY Current Liability Accounts Payable 740,605 Taxes Payable 131,614 Other 280,514 ------------- Total Current Liabilities 1,152,733 Total Long term Liabilities 766,625 Total Liability 1,919,358 STOCKHOLDERS EQUITY Capital Stock -35,975 Paid-In Capital 1,688,914 Retained Earnings (Loss) -2,832,292 Retained Earnings Current Year 342,206 Total Stock Equity -837,146 TOTAL LIABILITY & STOCKHOLDER EQUITY 1,082,213 ============= Shares Issued and Outstanding 478,677,215
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