CST: 24/07/2016 07:43:56   

AmeraMex International Reports 2015 Year-End Financials: Eighth Consecutive Profitable Quarter With Income Increasing 40 Percent

122 Days ago

CHICO, CA--(Marketwired - Mar 23, 2016) - AmeraMex International, Inc. (OTC PINK: AMMX), a provider of heavy equipment to infrastructure, shipping, logging and construction companies, today reported financial results for its financial year ended December 31, 2015.

Highlights for the Year Ended December 31, 2015

Revenue for 2015 Increased 13 Percent; Gross Profit Up Slightly at 49 Percent
The company reported revenue of approximately $8.3 million with gross profit of $4 million compared to revenue of approximately $7.3 million with gross profit of $3.6 million for the year ended December 31, 2014.

Net Income Increased 40 Percent
The company reported net income for the year of approximately $1.1 million compared to net income of $.801 million for the year ended December 31, 2014. 

Stronger Balance Sheet
Current assets improved significantly with an increase in cash and cash equivalents of approximately $.500 million and an approximate $.700 million increase in inventory.

Yield Sign Removed
The 'yield' sign from the company stock symbol, AMMX, was removed. Additionally, a review of years financial statements and back-up information for 2014 and 2015 begins early May. The company expects to announce the retention of an auditing firm shortly. Monies have been set aside for the SEC audit necessary to become a fully reporting company.

Insurance for Employees
To reduce overhead during the 2008 economic downturn and ensuing years, the company was forced to stop providing health insurance for its employees. Management was happy to reinitiate health insurance coverage at the beginning of 2016.

AmeraMex CEO Lee Hamre commented, "Sustained growth in our core business -- sales, rental and service, has increased capital and cash flow which in turn allowed acquisition of much needed inventory for refurbishing and resale within the U.S. and internationally. We are also planning an expansion of our product offering as we expect to sign a new dealership agreement for military equipment in the late May timeframe. This will allow us to pursue new opportunities throughout many parts of the world." 

Hamre continued, "We will be providing an update on our upcoming SEC audit and various projects during our Friday, March 25th conference call scheduled at 10:00 a.m. PT."

         
AmeraMex International, Inc.
Condensed Consolidated Balance Sheet
December 31, 2015
(unaudited)
         
ASSETS      
  Current Assets:      
  Cash & Equivalent   $ 676,069  
  Accounts Receivable   239,306  
  Cash Surrender Value of Life Insurance   153,090  
  Inventory   1,625,098  
    Total Current Assets $2,750,587  
         
Fixed Asset Net  
 1,016,471
 
      Total Assets $3,767,058
         
         
         
LIABILITIES AND STOCKHOLDERS EQUITY  
         
  Current Liability      
  Acct. Payable   $ 1,052,773  
  Taxes Payable   3,167  
  Other   327,604  
    Total Current Liabilities $ 1,383,544  
         
    Total Long term Liabilities $ 1,780,235  
         
      Total Liability $3,767,058
         
         
STOCKHOLDERS EQUITY      
         
  Capital Stock   $ 586,565  
  Paid-In Capital   1,561,184  
  Retained Earnings (Loss) (2,669,277)  
  Retained Earnings Current Year 1,124,808  
    Total Stock Equity 603,280  
         
TOTAL LIABILITY & STOCKHOLDER EQUITY $3,767,058
       
Total Number of Shares Issued and Outstanding: 664.9 million      
         
 
AmeraMex International, Inc.
Consolidated Income Statement
(Unaudited)
 
  For the Period Ended
December 31, 2015
  For the Period
Ended
December 31, 2014
       
Revenue $ 8,194,993   $ 7,255,178
       
Cost of Goods Sold 4,151,659   3,684,990
       
Gross Profit 4,043,334   3,570,188
       
Selling, General and Administrative Expenses 3,004,118   2,901,472
       
Other Income/Expense (85,592)   132,742
       
Net Income (Loss) $ 1,124,808   $ 801,458
       
Basic Earnings (Loss) Per Share 0.000   0.000
Weighted Average Shares Outstanding (millions) 664.9   664.9
       
Diluted Earnings (Loss) Per Share 0.002   0.001
       

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, 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 or www.hamreequipment.com.

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

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