AmeraMex International Reports Revenue for Second Quarter and Six-Month Period Ended June 30, 2021

Rhea-AI Summary

AmeraMex International, Inc. (OTCQB:AMMX) reported substantial revenue growth for the second quarter and six-month period ending June 30, 2021. The company achieved $6.3 million in revenue for Q2 2021, a significant increase from $1.8 million in Q2 2020. Year-to-date revenue reached $10.3 million, representing a 222% increase compared to $3.2 million in the previous year. Gross profit for the six-month period was $2.1 million, up from $874,000 in 2020. Net income for Q2 was $78,000, contrasting with a net loss of $(440,000) in Q2 2020.

Positive

• Revenue for Q2 2021 reached $6.3 million, up 250% from $1.8 million in Q2 2020.
• Six-month revenue totaled $10.3 million, a 222% increase from $3.2 million in 2020.
• Gross profit for the six-month period improved to $2.1 million from $874,000 in 2020.
• Net income for Q2 2021 was $78,000, compared to a loss of $440,000 in Q2 2020.

Negative

• Gross profit margin decreased to 21% in the six-month period from 27% in 2020.
• Gross profit as a percentage of revenue fell to 15% in Q2 2021 from 24% in Q2 2020.

Revenue for six-month period exceeds $10.3 million

CHICO, CA / ACCESSWIRE / August 13, 2021 / AmeraMex International, Inc. (OTCQB:AMMX), a provider of heavy equipment for logistics companies , infrastructure construction , and forestry conservation , reports revenue for its second quarter and six-month period ending June 30, 2021.

AmeraMex is reporting a significant increase in revenue for the second quarter and six-month period of 2021. It is important to remember that the Company's revenue for the comparative periods in 2020, was negatively affected by COVID-19 restraints. There was a substantial turnaround in revenue for the third and fourth quarters of 2020 finishing the years with revenue of $12.3 million

Second Quarter Ended June 30, 2021

The company reported revenue of $6.3 million compared to revenue of $1.8 million for the second quarter of 2020.

Gross profit for the quarter was $.970 million compared to gross profit of $.430 million for the second quarter of 2020. Gross profit as a percentage of revenue was 15 percent compared to 24 percent for the second quarter of 2020.

The net income for the quarter was $.078 million compared to net loss of $(.440) million for the second quarter of 2020.

Six-Month Period Ended June 30, 2021

Revenue for the six-month period was $10.3 million, a 222 percent increase when compared to revenue of $3.2 million reported for the comparable six-month period of 2020.

Gross profit for the six-month period was $2.1 million compared to gross profit of $.874 million for the six-month period of 2020. Gross profit as a percentage of revenue was 21 percent for the six-month period compared to 27 percent for the six-month period of 2020.

The net incom e for the six-month period was $.444 million compared to a net loss of $(.568) million reported for the comparable six-month period of 2020.

As a reminder, the public is invited to participate in the Company's second quarter conference call at 11:00 a.m. PT, 2:00 p.m. ET. The conference call dial-in number for both U.S. and international callers is 1.201.689.8560. Please dial in to the conference center five minutes before the call begins and ask the operator for the AmeraMex conference call. An audio replay of the call will be available from August 13, 2021 at 5:00 p.m. ET until August 27, 2021 at 11:59 p.m. ET. The replay is accessible by dialing 1.412.317.6671 and entering pin number 13722155.

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 STATEMENTS OF OPERATIONS
		THREE MONTHS ENDED JUNE 30,								SIX MONTHS ENDED JUNE 30,
		2021				2020				2021				2020
REVENUES
Sales of Equipment and Other Revenues		$	5,656,744			$	1,025,364			$	8,902,726			$	1,937,679
Rentals and Leases			643,207				757,321				1,426,921				1,283,475
Total Sales			6,299,951				1,782,685				10,329,647				3,221,154
COST OF SALES
Sales of Equipment and Other Revenues			5,140,234				1,103,305				7,753,266				1,849,257
Rentals and Leases			189,290				249,092				434,246				497,398
Total Operating Expenses			5,329,524				1,352,397				8,187,512				2,346,655
GROSS PROFIT			970,427				430,288				2,142,135				874,499
OPERATING EXPENSES
Selling Expense			284,732				59,167				423,921				148,000
General and Administrative			229,927				708,562				474,230				977,085
Total Operating Expenses			514,659				767,729				898,151				1,125,085
Profit (loss) From Operations			455,768				(337,441	)			1,243,984				(250,586	)
OTHER INCOME (EXPENSE)
Interest Expense, net			(267,975	)			(260,989	)			(535,032	)			(520,797	)
Loss from Early Extinguishment of Debt			(77,845	)			-				(90,178	)			-
Other Income (Expense)			764				-				10,842				(1,302	)
Total Other Income (Expense)			(345,056	)			(260,989	)			(614,368	)			(522,099	)
INCOME BEFORE PROVISION for INCOME TAXES			110,712				(598,430	)			629,616				(772,685	)
PROVISION (BENEFIT) for INCOME TAXES			32,662				(158,590	)			185,737				(204,766	)
NET INCOME (LOSS)		$	78,050			$	(439,840	)		$	443,879			$	(567,919	)
Weighted Average Shares Outstanding:
Basic			14,629,155				15,068,318				14,629,155				15,068,318
Diluted			14,629,155				15,068,318				14,629,155				15,068,318
Earnings (loss) per Share
Basic		$	0.01			$	-0.03			$	0.03			$	-0.04
Diluted		$	0.01			$	-0.03			$	0.03			$	-0.04

AMERAMEX INTERNATIONAL, INC. UNAUDITED BALANCE SHEETS
		JUNE 30, 2021				DECEMBER 31, 2020
ASSETS
Current Assets:
Cash		$	450,944			$	407,881
Accounts Receivable, Net			1,349,615				768,371
Inventory, Net			6,126,283				5,873,569
Other Current Assets			226,456				198,531
Total Current Assets			8,153,298				7,248,352
Property and Equipment, Net			1,049,776				1,035,840
Rental Equipment, Net			2,013,696				3,624,376
Deferred Tax Assets, Net			-				158,124
Other Assets			414,619				453,410
Total Other Assets			3,478,091				5,271,750
TOTAL ASSETS		$	11,631,389			$	12,520,102
LIABILITIES & STOCKHOLDERS' EQUITY
Current Liabilities:
Accounts Payable		$	980,458			$	620,200
Accrued Expenses			481,320				231,329
Joint Venture Liability			370,000				439,500
Lines of Credit			4,437,957				5,749,801
Notes Payable, Current Portion			739,109				911,265
Convertible Notes			226,802				150,683
Total Current Liabilities			7,235,646				8,102,778
Long-Term Liabilities
Deferred Tax Liability			27,613				-
Notes Payable - Related Party			202,751				226,659
Notes Payable, net of Current Portion			2,073,570				2,597,935
Total Long-Term Liabilities			2,303,934				2,824,594
TOTAL LIABILITIES			9,539,580				10,927,372
Commitments and Contingencies (Note 11)
STOCKHOLDERS' EQUITY:
Shareholders' Equity
Preferred Stock, $0.001 par value, 5,000,000 shares authorized, no			-				-
shares issued and outstanding
Common Stock, $0.001 par value, 1,000,000,000 shares authorized			14,629				14,549
14,629,155 shares issued and outstanding at June 30, 2021 and
14,548,851 at December 31, 2020
Additional Paid-In Capital			21,600,734				21,545,614
Accumulated Deficit			(19,523,554	)			(19,967,433	)
Total Stockholders' Equity (Deficit)			2,091,809				1,592,730
TOTAL LIABILITIES & STOCKHOLDERS' EQUITY		$	11,631,389			$	12,520,102

AMERAMEX INTERNATIONAL, INC. UNAUDITED STATEMENTS OF CASH FLOW
		SIX MONTHS ENDED JUNE 30,
		2021				2020
OPERATING ACTIVITIES:
Net Profit (Loss)			443,879				(567,919	)
Adjustments to reconcile Net Loss to
Net Cash provided by Operations Activities:
Depreciation and Amortization			518,025				676,983
Provision (Benefit) for Deferred Income Taxes			27,613				(204,761	)
Marketing Services Paid in Stock			46,400				-
Loss on Early Extinguishment of Debt			90,178				-
Change in Assets and Liabilities:
Accounts Receivable			(581,244	)			(385,333	)
Inventory			1,357,966				(2,553,432	)
Other Current Assets			(27,925	)			(27,531	)
Accounts Payable			360,258				201,626
Accrued Expenses			249,991				492,674
NET CASH PROVIDED BY OPERATING ACTIVITIES			2,485,141				(2,367,693	)
INVESTING ACTIVITIES:
Payments for Property & Equipment			(156,502	)			(135,025	)
Payments for Rental Equipment			(416,292	)			167,490
NET CASH PROVIDED BY INVESTING ACTIVITIES			(572,794	)			32,465
FINANCING ACTIVITIES:
Proceeds from Notes Payable			2,072,205				3,840,481
Payments on Notes Payable			(2,536,238	)			(391,300	)
Payment on Note Payable - Related Party			(23,908	)			(19,672	)
Joint Venture Liability			(69,500	)			(17,500	)
Net Borrowing Under Lines of Credit			(1,311,843	)			(980,546	)
NET CASH PROVIDED BY FINANCING ACTIVITIES			(1,869,284	)			2,431,463
NET INCREASE (DECREASE) IN CASH & CASH EQUIVALENTS			43,063				96,235
Cash and Cash Equivalents, BEGINNING OF PERIOD			407,881				114,504
Cash and Cash Equivalents, END OF PERIOD			450,944				210,739
CASH PAID FOR:
Interest			513,108				520,797
Income Taxes			-				-
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING
AND FINANCING ACTIVITIES:
Transfer of Inventory to Rental Equipment			508,000				-
Equipment Financed under Capital Leases			187,732				239,709
Transfer of Rental Equipment to Inventory			964,600				227,279

AMERAMEX INTERNATIONAL, INC. UNAUDITED STATEMENTS OF STOCKHOLDERS' EQUITY (DEFICIT) FOR THE SIX MONTHS ENDED JUNE 30, 2021 AND 2020
										Additional
		Common Stock								Paid-in				Treasury				Accumulated
Balance		Shares				Amount				Capital				Stock				Deficit
12/31/2020			15,068,318			$	15,068			$	21,519,435			$	-			$	(19,384,743	)
Net Loss																			(567,919	)
6/30/2020			15,068,318			$	15,068			$	21,519,435			$	-			$	(19,952,662	)
12/31/2020			14,549,155			$	14,549			$	21,545,614			$	-			$	(19,967,433	)
Stock for Services			80,000				80				55,120
Net Income			-				-				-				-				443,879
6/30/2020			14,629,155			$	14,629			$	21,600,734			$	-			$	(19,523,554	)
			14,629,155				14,629				21,600,734				-				(19,523,554	)

SOURCE: AmeraMex International Inc

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https://www.accesswire.com/658858/AmeraMex-International-Reports-Revenue-for-Second-Quarter-and-Six-Month-Period-Ended-June-30-2021

FAQ

What was AmeraMex's revenue for the second quarter of 2021?

AmeraMex reported revenue of $6.3 million for the second quarter of 2021.

How does AmeraMex's six-month revenue for 2021 compare to 2020?

In 2021, AmeraMex's six-month revenue was $10.3 million, a 222% increase compared to $3.2 million in 2020.

What was AmeraMex's net income for the second quarter of 2021?

The net income for AmeraMex in the second quarter of 2021 was $78,000.

What was the gross profit margin for AmeraMex in the six-month period ending June 30, 2021?

The gross profit margin for AmeraMex in the six-month period was 21%.

When is AmeraMex's second quarter conference call scheduled?

The second quarter conference call is scheduled for August 13, 2021, at 11:00 a.m. PT.