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AmeraMex International Reports Revenue of $11.2 Million for the Nine-Month Period – a 44 Percent Increase

Written by Customer Service on . Posted in Earnings Releases And Operating Results.

CHICO, Calif., Nov. 14, 2019 (GLOBE NEWSWIRE) — AmeraMex International, Inc. (OTC:AMMX), a provider of heavy equipment for logistics companies, infrastructure construction, and forestry conservation,  reported financial results for its third quarter and nine-month period ended September 30, 2019.
Statement of Operations for the Third Quarter Ended September 30, 2019
The company reported revenue of approximately $3.3 million, a 27 percent increase when compared to revenue of approximately $2.6 million for the third quarter of 2018.Gross profit for the quarter was $1.2 million, or a gross profit margin of 35 percent, compared to gross profit of $.767 million, or a gross profit margin of 30 percent, for the third quarter of 2018.The Company reported income from operations of $.806 for the quarter an increase of 80 percent when compared to income of $.446 million for the comparable 2018 quarter.  Net income for the quarter was $.513 million, an increase of 87 percent when compared to net income of $.274 for the comparable 2018 quarter.Statement of Operations for the Nine-Month Period Ended September 30, 2019
Revenue for the nine-month period increased 44 percent to approximately $11.2 million when compared to revenue of $7.7 million for the 2018 nine-month period.Gross profit for the nine-month period was $2.4 million for the 2019 and the comparable 2018 period.  The gross profit margin for the 2019 period was 21 percent, compared to gross profit margin of 31 percent for the 2018 nine-month period. Gross profit margins were reduced significantly during the nine-month period ending September 30, 2019 due to an increased percentage of new equipment sold in the second quarter of 2019.The Company reported income from operations of $1.4 million for the period a decrease of 7 percent when compared to $1.5 for the 2018 period.  Net income of approximately $.255 million, compared to net income of approximately $.741 million for the 2018 period. Income for the 2019 period was significantly affected by a one-time charge in the second quarter of $566,838 for the early extinguishment of debt. Balance Sheet for the Nine-Month Period Ended September 30, 2019
Assets have increased $2.4 million over the nine-month period. Total liabilities for the period have increased $1.6 million, which includes a $6.6 million line of credit.Conference Call
The shareholder conference call, chaired by AmeraMex CEO Lee Hamre, is scheduled for Thursday, November 14, 2019 at 8:30 a.m. Pacific Time, 11:30 a.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 November 14, 2019 at 2:30 p.m. Eastern Time until November 28, 2019 at 11:59 p.m. Eastern Time.  The replay is accessible by dialing 1.412.317.6671 and entering pin number 13696224.  An audio version of the conference call will also be available on the Company’s website, www.ammx.net.Financial Tables Follow

AMERAMEX INTERNATIONAL, INC.
BALANCE SHEETS
AS OF SEPTEMBER 30, 2019 AND DECEMBER 31, 2018
(UNAUDITED)
AMERAMEX INTERNATIONAL, INC.
STATEMENTS OF OPERATIONS
FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2019 AND 2018
(UNAUDITED)
AMERAMEX INTERNATIONAL, INC.
STATEMENTS OF CASH FLOWS
FOR THE NINE MONTHS AS OF SEPTEMBER 30, 2019 AND 2018
(UNAUDITED)AmeraMex International
AmeraMex International sells, leases and rents heavy equipment to companies within multiple industries including construction, logistics, mining, and lumber.  The company 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 Statement
Statements made in this news release that are not historical or current facts are “forward-looking statements” made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933 (the “Act”) and Section 21E of the Securities Exchange Act of 1934. These statements often can be identified by the use of terms such as “may,” “expect,” “believe,” “anticipate,” “estimate,” “approximate” or “continue,” or the negative thereof. We intend that such forward-looking statements be subject to the safe harbors for such statements. We wish to caution readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. Any forward-looking statements represent management’s best judgment as to what may occur in the future. However, forward-looking statements are subject to risks, uncertainties and important factors beyond our control that could cause actual results and events to differ materially from historical results of operations and events and those presently anticipated or projected. We disclaim any obligation subsequently to revise any forward-looking statements to reflect events or circumstances after the date of such statement or to reflect the occurrence of anticipated or unanticipated events.Investor and Media Relations
 McCloud Communications, LLC
Marty Tullio, Managing Member                                                      
Office: 949.632.1900 or Marty@McCloudCommunications.com 

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