CHICO, CA--(Marketwire - May 24, 2010) - AmeraMex International, Inc. (
"The economic downturn, which began to affect our fourth quarter 2008 orders, has continued to have a major effect on our revenue growth," commented AmeraMex CEO Lee Hamre. We are beginning to see activity in the request for proposals, specifically from logistics companies, but believe orders for U.S. construction projects will not increase significantly over the next two to three years.
"While we are not pleased with revenue for the first quarter, we were not surprised. We believe revenue for the remainder of 2010 will rebound to 2008 levels with heavy equipment orders generated by the business development we are doing in Africa and Central America," added Hamre.
AmeraMex International has shipped equipment for the first phase of the projected $4 million equipment order for the new El Salvador port scheduled to open this summer. To date the company has shipped a service truck and five large cranes. The cranes were acquired in conjunction with Nautilus Leasing Co. in San Francisco and financed through a large bank in Santiago, Chili.
Hamre continued, "Central America is becoming a hub for importing and exporting of goods within the region. This increase in shipping activities has logistic companies ordering additional container handlers to increase the speed and efficiency of loading and unloading shipping containers dockside.
"We have also received our second order from Honduras for four additional large container handling machines totaling approximately $250,000. Honduras is another country in Central America experiencing growth within its shipping industry. Our being the first supplier of quality, competitively priced equipment should position AmeraMex as the 'go-to-company' for additional heavy equipment purchases made by these customers."
Hamre will be providing a shareholder update conference call Monday, May 24, at 11:00 a.m. Pacific (PDT), 2:00 p.m. Eastern (EDT). Shareholders and members of the financial community are cordially invited to participate in the call. The conference call dial-in number for U.S. and international callers is 1-480-629-9760. The conference ID is 4298505. Please dial in to the conference at least five minutes before the call is scheduled to begin.
An audio replay of the call will be available from May 24, at 5:00 p.m. Eastern (EDT), to June 7, at 11:59 p.m. Eastern (EDT). The call can be accessed by dialing 1-303-590-3030 and entering replay pin number 4298505.
| AmeraMex International, Inc. |
| CONDENSED STATEMENT OF OPERATIONS |
| (UNAUDITED) |
| For the Three-month Period Ended March 31, 2010 | For the Three-month Period Ended March 31, 2009 | For the Three-month Period Ended March 31, 2008 | |||||||||||
| Sales | $ | 913,290 | $ | 2,341,898 | $ | 5,549,854 | |||||||
| Cost of Sales | 473,641 | 2,127,613 | 4,990,874 | ||||||||||
| Gross Profit | 439,649 | 214,285 | 468,980 | ||||||||||
| Expenses: | 313,640 | 412,960 | 322,966 | ||||||||||
| Total Expenses | 313,640 | 412,960 | 322,966 | ||||||||||
| Net Income (loss) from Operations | 126,009 | (198,675 | ) | 146,014 | |||||||||
| Other Expenses and Income | (254,138 | ) | 29,578 | - | |||||||||
| Embezzled Funds | - | - | (121,356 | ) | |||||||||
| Net Income (Loss) | $ | (128,129 | ) | $ | (169,097 | ) | $ | 24,658 | |||||
| Basic Earnings (Loss) Per Share | $ | (0.0006 | ) | $ | 0.00000 | ||||||||
| Weighted Average Shares Outstanding | 310,000,000 | 262,000,000 | 262,000,000 | ||||||||||
| Diluted Earnings (Loss) Per Share | $ | (0.0004 | ) | $ | (0.0006 | ) | $ | 0.00000 | |||||
About AmeraMex International
AmeraMex International sells, leases, and rents heavy equipment to companies within four industries: construction (light and infrastructure), shipping, mining and logging. AmeraMex'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 North America, South America, 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.
Contact Information:
Media and Financial Contact:
Marty Tullio
McCloud Communications LLC
949.553.9748