AmeraMex International Projects Revenue Growth of 71 Percent and Continued Profitability for 2013
February 14 2014 - 10:00AM
Marketwired
AmeraMex International Projects Revenue Growth of 71 Percent and
Continued Profitability for 2013
CHICO, CA--(Marketwired - Feb 14, 2014) - AmeraMex
International, Inc. (PINKSHEETS: AMMX), a provider of heavy
equipment to infrastructure, shipping, construction and farming
companies announced that it will be holding a shareholder
conference call today at 9:30 a.m. Pacific Time, 12:30 p.m. Eastern
Time. CEO Lee Hamre commented, "We have a growing list of new
shareholders that have read our past news releases but have not
participate in past shareholder conference calls; this has
generated many questions regarding the status of several projects
and potential opportunities. We will provide an in depth
project update in today's conference call."
- Revenue and income projections Management projects revenue of
approximately $5.8 million compared to revenue of $3.4 million
reported for 2012 and net income of approximately $500,000 (before
possible adjustments) compared to net income of $276,000 for
2012. The company will be reporting 2013 financial results
before March 31, 2014.
- SEC audit status The company is interviewing new auditing firms
in the Bay area that have a good understanding of our
industry. Management will not renew the audit process until
they have all the monies set aside to complete the audit in a
timely manner.
- Update on Niger activities/opportunities Management returned
from both China and Niger two weeks ago. The pricing has been
negotiated and financing in place from Chinese equipment companies.
Management will be returning to Niger to present a proposal for the
initial project, a $200 million fleet of trucks, before the end of
February. The company has been asked to provide proposals for a
solar energy project as well as a 'dry' port project.
- $4 million project in Peru The project in Peru has not been
funded.
- Order delays for farming and railroad project While
management and its partners continue an ongoing dialogue with
responsible agencies, the railroad construction project has been
delayed for at least two years; therefore, management is focused of
projects closer to being finalized.
- Project funding Management is working with a New York-based
financing company and Chinese-based equipment financing
groups.
- Crude oil project Management is collaborating with an oil
drilling company with the goal of forming an alliance with the
government of The Congo for in-country drilling of crude oil.
- African partners The company's partners are local businesses in
both The Congo and Niger. These partners are AmeraMex's
connection to the government officials in these
areas. Management has visited both countries on two occasions
and believes they are close reaching an agreement on more than one
project.
- U.S. marketplace for sales and rental The U.S. market for new
equipment has shown some growth but the rental market is beginning
to take off as construction companies prefer rental of necessary
equipment versus capital outlay.
- $2 million equipment bid from U.S. port The bid has not been
awarded as all ports within the purchasing group must be in
agreement and have monies allocated to purchase the
equipment.
- Progress marketing refurbished equipment The market for
refurbished equipment continues to grow and all but seven of the 18
refurbished container handlers purchased in September 2013 have
been sold.
- Acquisition strategy Management had identified several
candidates for an acquisition/merger strategy to provide diverse
equipment and to support and expand sales territories. When
the U.S. economy began to falter, a decision was made to forego the
acquisition strategy and put energies into expanding the company's
international presence in resource-rich countries.
Today's call is scheduled for 9:30 a.m. Pacific Time, 12:30 p.m.
Eastern Time. All shareholders and members of the investment
community are cordially invited to participate in the conference
call. The conference call dial-in number for both U.S. and
international callers is 1-480-629-9664. Please dial in to the
conference five minutes before the call is scheduled to begin and
ask the operator for the AmeraMex conference call, ID 4660652.
An audio replay of the conference call will be available from
February 14, 2014 at 3:30 p.m. Eastern until February 28, 2014 at
11:59 a.m. Eastern. The replay can be accessed by dialing
1-858-384-5517 and entering conference pin number 4660652.
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 maintains an inventory of top-of-the-line equipment and parts
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.
Safe Harbor
Statement Except for the historical information
contained herein, the matters discussed are forward-looking
statements 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.
Media and Financial Contact: Marty Tullio McCloud Communications
LLC 949.632.1900 Email Contact
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