AmeraMex International Announces First Quarter 2010 Financial Results and Initial Shipment of Projected $4 Million El Salvador Port Project
Shareholder Conference Call to Be Held Monday, May 24,
CHICO, CA, May 24, 2010 (MARKETWIRE via COMTEX) -- AmeraMex International, Inc. (PINKSHEETS: AMMX), a provider of heavy equipment to stevedoring(logistics companies), infrastructure construction and mining companies, today reported financial results for its first quarter, ended March 31, 2010. For the quarter, the company reported revenue of $913,290 and a net loss of $128,129, or a loss per share of $0.0004. AmeraMex captures revenue upon shipment of equipment to its customers.
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.
CHICO, CA, May 24, 2010 (MARKETWIRE via COMTEX) -- AmeraMex International, Inc. (PINKSHEETS: AMMX), a provider of heavy equipment to stevedoring(logistics companies), infrastructure construction and mining companies, today reported financial results for its first quarter, ended March 31, 2010. For the quarter, the company reported revenue of $913,290 and a net loss of $128,129, or a loss per share of $0.0004. AmeraMex captures revenue upon shipment of equipment to its customers.
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.