Armanino Foods of Distinction, Inc. (OTC Pink Sheets Symbol:
AMNF) reported today that its second quarter had achieved the
highest quarterly sales and earnings in its history. Six month
figures also set Company records.
Net sales for the second quarter of 2014 were $7,664,883 as
compared to $7,246,520 for Q2 2013, an increase of 6%.
Income from continuing operations for the second quarter of 2014
was $1,591,231 compared to $1,388,447 for the same quarter in 2013,
an increase of 15%. Earnings per share for the second quarter of
2014 were $0.030 compared to $0.027 for the second quarter of 2013,
an increase of 11%.
For the six month period ended June 30, 2014 net sales were
$14,971,208 compared to $13,915,592 a year ago, an increase of 8%.
Income from continuing operations for the six month period rose by
15% to $2,989,499 from $2,604,642 for the same period in 2013.
Earnings per share for the first six months of 2014 amounted to
$0.057 compared to $0.050 posted in 2013, an increase of 14%.
Edmond J. Pera, President and CEO of Armanino Foods said, “We
are very pleased with the upward momentum of our financial
performance in the second quarter and year to date as the Company’s
sales and profitability reached record breaking levels. Our second
quarter domestic sales, fueled by higher than normal promotional
activities and their associated expenses, were solid.”
Pera concluded, “Our domestic and international sales pipelines
are robust, and our cash position and balance sheet are strong. We
are cautiously optimistic about our prospects for the remainder of
this year as our flavorful natural products, wide distribution
network, excellent quality assurance programs and customer service
continue to be well received by the foodservice and industrial food
market segments.”
Armanino Foods of Distinction, Inc. is an international food
company that manufactures and markets frozen Italian specialty food
items such as pestos, sauces and filled pastas to the foodservice,
retail, and industrial markets. In addition to a classic Basil
Pesto Armanino offers other flavors such as Cilantro, Dried Tomato
& Garlic, Roasted Red Bell Pepper, Southwest Chipotle,
Artichoke, Roasted Garlic, Light Basil Pesto, Alfredo sauce, and
Bolognese sauce. Armanino’s Organic line includes classic Basil
Pesto. Frozen pastas and meatballs are also offered by Armanino
Foods.
Armanino Foods of Distinction, Inc.Results for Quarter Ended
June 30, 2014 (Unaudited)
2014
2013
Net Sales $7,664,883 $7,246,520 Income From Cont. Operations Before
Taxes $1,591,231 $1,388,447 Net Income $975,151 $851,453 Basic
Income Per Common Share $0.030 $0.027 Weighted Average Common
Shares Outstanding 32,065,645 32,063,447 Diluted Income/(Loss) Per
Common Share $0.030 $0.026 Diluted Weighted Average Common Shares
Outstanding 32,065,645 32,139,239 Armanino Foods of
Distinction, Inc.Results for Six Months Ending June 30, 2014
(Unaudited)
2014
2013
Net Sales $14,971,208 $13,915,592 Income From Cont. Operations
Before Taxes $2,989,499 $2,604,642 Net Income $1,832,594 $1,597,805
Basic Income Per Common Share $0.057 $0.050 Weighted Average Common
Shares Outstanding 32,065,645 32,039,678 Diluted Income/(Loss) Per
Common Share $0.057 $0.050 Diluted Weighted Average Common Shares
Outstanding 32,065,645 32,114,044
This press release contains forward-looking statements within
the meaning of U.S. securities laws, including statements regarding
the Company’s goals and growth prospects. These forward looking
statements are subject to certain risks and uncertainties that
could cause the actual results to differ materially from those
projected, including general economic conditions, fluctuations in
customer demand, competitive factors such as pricing pressures on
existing products, and the timing and market acceptance of new
product introductions, the Company’s ability to achieve
manufacturing efficiencies necessary for profitable sales at
current pricing, and the risk factors listed from time-to-time in
the Company’s annual and quarterly reports. The Company assumes no
obligation to update the information included in this press
release.
The best source of information on the company is the OTC Markets
website http://www.otcmarkets.com/stock/amnf/company-info, or the
Company website http://www.armaninofoods.com
Armanino Foods of Distinction, Inc.Edgar Estonina,
510-441-9300CFOAMNF@armaninofoods.com
Armanino Foods of Distin... (QX) (USOTC:AMNF)
過去 株価チャート
から 10 2024 まで 11 2024
Armanino Foods of Distin... (QX) (USOTC:AMNF)
過去 株価チャート
から 11 2023 まで 11 2024