Market Overview

AmeraMex International Reports Second Quarter Revenue of $5.5 Million and Revenue of $7.9 Million Six-Month Period

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CHICO, Calif., Aug. 15, 2019 (GLOBE NEWSWIRE) -- AmeraMex International, Inc. (OTCQB:AMMX), a provider of heavy equipment for logistics companies, infrastructure construction, and forestry conservation, reports revenue of $5.5 million for its second quarter and $7.9 million for the six-month period ending June 30, 2019.

Highlights

  • On July 5, 2019, the Company's Form 10/registration became effective.
  • AmeraMex's application to the OTCQB was approved and the Company's common stock (AMMX) is now listed on the OTCQB Venture Market.
  • The Company's board of directors was expanded through the addition of two new board members.
  • The Company received approval for a $6.5 million line of credit.
  • $5 million in sales were booked during six-month period ended June 30, 2019
  • $1 million of used container handlers were purchased for refurbishment and resale.

Second Quarter Ended June 30, 2019

The company reported revenue of $5,473,041 compared to revenue of $3,061,750 for the second quarter of 2018. This represents a 79 percent increase when compared to the second quarter of 2018. 

Gross profit, as a percentage of revenue, was 11 percent compared to 27 percent for the comparable 2018 quarter.  Gross profit was reduced due to increased sales of new equipment.

Net income for the quarter was $24,032 compared to net income of $250,586 for the second quarter of 2018 due in part to operating expenses increasing approximately $176,000 over the comparable quarter.

Six-Month Period Ended June 30, 2019

Revenue for the six-month period was $7,916,933 compared to revenue of $5,131,931 reported for the comparable six-month period of 2018.

Gross profit, as a percentage of revenue, was 15 percent compared to 31 percent for the comparable 2018 period.  Gross profit varies due to product mix and weather the equipment was new or refurbished.

Due to a one-time-charge of $566,838 for early extinguishment of debt, the company reported net loss of ($258,586) compared to net income of $467,445 for the six-month period in 2018.  Without this one-time charge, which will benefit the bottom line going forward, net income would have been $149,302.

AmeraMex's CEO Lee Hamre was interviewed on August 14, 2019 by the Publicly Traded Podcast Network. To listen to the ten-minute interview, click on one of the links listed below:

http://www.youtube.com/watch?v=baAwvpIfK9o or https://www.publiclytradedpodcastnetwork.com/podcasts

As a reminder, the public is invited to participate in the Company's Second Quarter Financial call scheduled today 11:00 a.m. Pacific Time, 2:00 p.m. Eastern Time.  The conference call dial-in number for both U.S. and international callers is 1.201.689.8560. An audio replay of the call will be available from August 15, 2018 at 5:00 p.m. Eastern Time until  August 29, 2018 at 11:59 p.m. Eastern Time.  The replay is accessible by dialing 1.412.317.6671 and entering pin number 13693564.

About AmeraMex International
AmeraMex International sells, leases and rents heavy equipment to companies within multiple industries including construction, logistics, mining, and lumber.   AmeraMex, with a US and international customer base, has over 30 years of experience in heavy equipment sales and service.  Follow AmeraMex on Twitter @ammx_intl and visit the AmeraMex website, www.AMMX.net or www.hamreequipment.com for additional information and equipment videos.

Forward-Looking Statements
This press release contains forward-looking statements. All statements other than statements of historical facts included in this press release are forward-looking statements. In some cases, forward-looking statements can be identified by words such as "believe," "expect," "anticipate," "plan," "potential," "continue" or similar expressions. Such forward-looking statements include risks and uncertainties, and there are important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Investors are encouraged to review the Company's filings with the Securities and Exchange Commission. Investors should not place any undue reliance on forward-looking statements since they involve known and unknown, uncertainties and other factors which are, in some cases, beyond the Company's control which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects the Company's current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to operations, results of operations, growth strategy and liquidity. The Company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.

Investor and Media Relations
McCloud Communications, LLC
Marty Tullio, Managing Member
Office: 949.632.1900 or Marty@McCloudCommunications.com

Tables follow:

AMERAMEX INTERNATIONAL, INC.    
UNAUDITED STATEMENT OF OPERATIONS    
FOR THE THREE AND SIX MONTHS AS OF JUNE 30, 2019 AND 2018    
           
      Three Months     Three Months     Six Months     Six Months    
      Period Ending     Period Ending     Period Ending     Period Ending    
      JUNE 30, 2019     JUNE 30, 2018     JUNE 30, 2019     JUNE 30, 2018    
REVENUES                          
Sales of Equipment and Other Revenues $   4,901,300   $   2,465,732   $   6,671,353   $   3,768,734    
Rentals and Leases     571,741       596,018       1,245,580       1,363,197    
Total Revenues       5,473,041       3,061,750       7,916,933       5,131,931    
                             
COST OF SALES                          
Sales of Equipment and Other Revenues   4,632,000       1,997,243       6,197,536       3,062,848    
Rentals and Leases     235,537       222,767       471,723       454,751    
Total Cost of Revenues     4,867,537       2,220,010       6,669,259       3,517,599    
                             
GROSS PROFIT     605,504       841,740       1,247,674       1,614,332    
                             
OPERATING EXPENSES                          
Selling Expense     106,726       80,371       187,959       157,118    
General and Administrative     292,751       144,259       497,368       373,654    
Total Operating Expenses       399,477       224,630       685,327       530,772    
                             
Profit (loss) From Operations   206,027       617,110       562,347       1,083,560    
               
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