AmeraMex International Reports Revenue for Second Quarter and Six-Month Period Ended June 30, 2020
AmeraMex International (OTCQB:AMMX) reported significant declines in revenue due to COVID-19. For Q2 2020, revenue dropped by 67% to $1,782,658 from $5,473,041 in Q2 2019. The six-month revenue fell by 59%, totaling $3,221,154. Despite a gross profit of $430,288 in Q2, the company posted a net loss of $(439,840), down from net income of $24,032 a year prior. Positive signs include July sales exceeding $2.2 million, indicating a potential recovery.
- July sales exceeding $2.2 million, indicating a potential revenue recovery.
- Gross profit as a percentage of revenue increased to 24% for Q2 2020, compared to 11% for Q2 2019.
- Q2 2020 revenue decreased by 67% compared to Q2 2019.
- Net loss for Q2 2020 was $(439,840), down from net income of $24,032 in Q2 2019.
- Six-month revenue decreased by 59% compared to the same period in 2019.
CHICO, CA / ACCESSWIRE / August 10, 2020 / 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, 2020.
The Company's revenue for the second quarter and six-month period was negatively affected by COVID-19 restraints as was that of its customers. The first month of the third quarter has already experienced a revenue turnaround. For the month of July through August 4, the Company reported sales in excess of
Second Quarter Ended June 30, 2020
The company reported revenue of
Gross profit for the quarter was
The net loss for the quarter was
Six-Month Period Ended June 30, 2020
Revenue for the six-month period was
Gross profit for the six-month period was
The net loss for the six-month period was
AmeraMex's CFO, Hope Stone, presented at the OTC Markets Online OTCQB Venture Company Investor Conference on August 6, 2020. A replay of Stone's presentation is available, via registration, on the OTCMarkets.com website.
As a reminder, the public is invited to participate today 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 10, 2020 at 5:00 p.m. ET until August 24, 2020 at 11:59 p.m.ET. The replay is accessible by dialing 1.412.317.6671 and entering pin number 13707920
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
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Marty Tullio, Managing Member
Office: 949.632.1900 or Marty@McCloudCommunications.com
Tables follow:
AMERAMEX INTERNATIONAL, INC.
UNAUDITED STATEMENT OF OPERATIONS
FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2020 AND 2019
| THREE MONTHS | THREE MONTHS | SIX MONTHS | SIX MONTHS | |||||||||||||||||||||
| JUNE 30, 2020 | JUNE 30, 2019 | JUNE 30, 2020 | JUNE 30, 2019 | |||||||||||||||||||||
REVENUES | ||||||||||||||||||||||||
Sales of Equipment and Other Revenues | $ | 1,025,364 | $ | 4,901,300 | $ | 1,937,679 | $ | 6,671,353 | -71 | % | ||||||||||||||
Rentals and Leases | 757,321 | 571,741 | 1,283,475 | 1,245,580 | 3 | % | ||||||||||||||||||
Total Sales | 1,782,685 | 5,473,041 | 3,221,154 | 7,916,933 | -59 | % | ||||||||||||||||||
COST OF SALES | ||||||||||||||||||||||||
Sales of Equipment and Other Revenues | 1,103,305 | 4,632,000 | 95 | % | 1,849,257 | 6,197,536 | 93 | % | ||||||||||||||||
Rentals and Leases | 249,092 | 235,537 | 41 | % | 497,398 | 471,723 | 38 | % | ||||||||||||||||
Total Operating Expenses | 1,352,397 | 4,867,537 | 2,346,655 | 6,669,259 | -65 | % | ||||||||||||||||||
GROSS PROFIT | 430,288 | 605,504 | 874,499 | 1,247,674 | 19 | % | ||||||||||||||||||
OPERATING EXPENSES | ||||||||||||||||||||||||
Selling Expense | 59,167 | 106,726 | 148,000 | 187,959 | ||||||||||||||||||||
General and Administrative | 708,562 | 292,751 | 977,085 | 497,368 | ||||||||||||||||||||
Total Operating Expenses | 767,729 | 399,477 | 1,125,085 | 685,327 | ||||||||||||||||||||
Profit (loss) From Operations | (337,441 | ) | 206,027 | (250,586 | ) | 562,347 | ||||||||||||||||||
OTHER INCOME (EXPENSE) | ||||||||||||||||||||||||
Interest Expense, net | (260,989 | ) | (172,559 | ) | (520,797 | ) | (435,734 | ) | ||||||||||||||||
Loss from Early Extinguishment of Debt | - | - | - | (482,908 | ) | |||||||||||||||||||
Other Income (Expense) | - | 716 | (1,302 | ) | 1,233 | |||||||||||||||||||
Total Other Income (Expense) | (260,989 | ) | (171,843 | ) | (522,099 | ) | (917,409 | ) | ||||||||||||||||
INCOME BEFORE PROVISION for INCOME TAXES | (598,430 | ) | 34,184 | (772,685 | ) | (355,062 | ) | |||||||||||||||||
PROVISION (BENEFIT) for INCOME TAXES | (158,590 | ) | 10,152 | (204,766 | ) | (96,476 | ) | |||||||||||||||||
NET INCOME (LOSS) | $ | (439,840 | ) | $ | 24,032 | $ | (567,919 | ) | $ | (258,586 | ) | |||||||||||||
Weighted Average Shares Outstanding: | ||||||||||||||||||||||||
Basic | 753,415,879 | 753,415,879 | 753,415,879 | 753,415,879 | ||||||||||||||||||||
Diluted | 753,415,879 | 753,415,879 | 753,415,879 | 753,415,879 | ||||||||||||||||||||
Earnings (loss) per Share | ||||||||||||||||||||||||
Basic | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | ||||||||||||||||
Diluted | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | ||||||||||||||||
AMERAMEX INTERNATIONAL, INC.
UNAUDITED BALANCE SHEETS
FOR THE SIX MONTHS ENDED JUNE 30, 2020
AND THE YEAR ENDED DECEMBER 31, 2019
| JUNE 30, 2020 | |||||
FAQ
What were AmeraMex's revenue figures for Q2 2020?
How much did AmeraMex lose in net income for Q2 2020?
What are the sales figures for AmeraMex in July 2020?
How did AmeraMex's six-month revenue compare year-over-year?
