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Last Post: 7/6/2016 5:37:17 PM - Followers: 0 - Board type: Premium - Posts Today: 0

AMNF.. $0.515,, 8.42% Yeild.. Table Pounder..

On the AMNF board I have posted PR releases for the past year.. While a PK it appears that AMNF has kept up with the timely isuance of PR releases.. I spoke to the company and the reason they dropped from NASDAQ and went to the PK was all sarbanes related.. If you Give Internal PR a call I'm sure you will do as I have done today.. This is a nice, well run recession resisant company with modest growth and accelerating earnings... AMNF pays a Div. Of $0.00825 per Qtr. and has paid a special Div. of $0.0085 at the end of the year the past 2 years.. I spoke to the Internal IR and have come away with a good feeling about AMNF.. With the Div. and back of the napkin doodleing I think AMNF should/could earn $0.09/$0.11 per share this year and $0.14 next.. The div. is secure and as a Div. play at this time it yields 8.42% and seems secure.. I have bought 92,752 shares  .. Hank

Armanino Foods Posts Highest Quarterly Sales and Income in Its History

Hayward, CA (July 21, 2010) Armanino Foods of Distinction, Inc. (Pink Sheets Symbol: AMNF) today reported record quarterly sales and record quarterly income, making it the highest quarter in the Company’s history.

Net sales for the second quarter ended June 30, 2010 were $6,132,629 as compared to $5,314,415 for the same quarter a year ago, an increase of 15%. All areas of the business contributed to the sales growth.

Income from continuing operations before taxes for the second quarter of 2010 were $1,132,586 compared to $761,930 in the second quarter of 2009, an increase of 49%. Net income for the same periods rose to $695,377 from $472,277, an increase of 47%.

For the first six months of 2010, net sales, income before taxes, net income and earnings per share were all the highest in the Company’s history far surpassing the previous records set in 2009.

Net sales for the six month period rose 12% to $11,129,495 from $9,976,073 in 2009. Income from continuing operations for the period totaled $1,779,224 from the $1,136,100 posted for the same period a year ago, an increase of 57%. Net income increased by 55% to $1,094,326 from $708,021 for the same period in 2009. Earnings per share for the six months was $0.031 from $0.020 last year.

Edmond J. Pera, the Company’s President and CEO said, “Obviously, we are extremely gratified with our results. Strong second quarter sales in our core products pushed profits to new levels and our distributor customer base continued to grow.”

Pera continued, “We are still working to close several new industrial accounts, which if consummated, will also add to our sales growth.”

Pera concluded, “Even with this growth in sales our working capital has not been adversely impacted. Our cash position remains strong, our receivables remain current, our inventory levels remain sufficient to handle the sales increase and we have no long term debt.”

Armanino Foods of Distinction, Inc. is an international food company that manufactures and markets frozen Italian specialty food items such as pesto 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, and Mediterranean. Armanino’s Organic line includes classic Basil Pesto. Frozen pastas, sauces, meatballs and focaccia are also offered by Armanino Foods.



Armanino Foods of Distinction, Inc.
Results for Quarter Ended June 30, 2010 (Unaudited)
2010 2009
Net Sales $6,132,629 $5,314,415
Income From Cont. Operations Before Taxes $1,132,586 $761,930
Net Income $695,377 $472,277
Basic Income Per Common Share $0.020 $0.014
Weighted Average Common Shares Outstanding 34,928,329 34,677,780
Diluted Income/(Loss) Per Common Share $0.020 $0.014
Diluted Weighted Average Common Shares Outstanding 34,990,549 34,892,758

Armanino Foods of Distinction, Inc.
Results for Six Months Ending June 30, 2010 (Unaudited)
2010 2009
Net Sales $11,129,495 $9,976,073
Income From Cont. Operations Before Taxes $1,779,224 $1,136,100
Net Income $1,094,326 $708,021
Basic Income Per Common Share $0.031 $0.020
Weighted Average Common Shares Outstanding 34,928,329 34,677,780
Diluted Income/(Loss) Per Common Share $0.031 $0.020
Diluted Weighted Average Common Shares Outstanding 35,079,464 34,853,247

 

Canfor Pulp Income Fund Announces Strong First Quarter 2010 Results and Increase in Monthly Distribution
VANCOUVER, BRITISH COLUMBIA, Apr 26, 2010 (MARKETWIRE via COMTEX) -- Canfor Pulp Income Fund (the Fund) /quotes/comstock/11t!cfx.un (CA:CFX.UN 14.20, 0.00, 0.00%) announced today its first quarter 2010 results as well as the results of Canfor Pulp Limited Partnership (the Partnership) in which the Fund has a 49.8% ownership.

The Partnership reported sales of $239.5 million and net income of $32.5 million, or $0.46 per unit, for the quarter ended March 31, 2010. The Partnership generated EBITDA of $44.1 million in the quarter. The Fund reported net income of $16.5 million, representing the Fund's share of the Partnership's net income and a future income tax recovery of $0.3 million.

In the quarter, the Partnership generated adjusted distributable cash of $41.0 million, or $0.57 per unit, and the Partnership and the Fund declared distributions of $0.32 per unit.

Improved Partnership results compared to the fourth quarter of 2009 were attributable to higher prices for the Partnership's pulp and paper products, lower unit manufacturing costs and increased pulp shipments, partially offset by the stronger Canadian dollar.

First quarter results were negatively impacted by a shutdown at the Prince George Pulp and Paper Mill, which reduced pulp production by approximately 22,000 tonnes and reduced EBITDA by approximately $11.0 million. Included in these amounts were approximately 4,000 tonnes and $4.0 million attributable to advancing the annual maintenance outage originally planned for the second quarter of 2010, which was moved to coincide with unplanned maintenance requiring the shutdown of the mill's recovery boiler. Mitigating the production loss was a record quarter at the Northwood Pulp Mill for both total tonnes and average daily rate.

Pulp markets remained strong as steady pulp demand coupled with large incremental supply side reductions maintained world inventories of pulp at very low levels throughout the quarter. The tight markets allowed producers to implement further price increases in the quarter. NBSK US dollar North American list prices were US$830 per tonne in December 2009 rising to US$910 in March 2010 with announced prices for May of US$1,000. Mitigating the impact of stronger global pulp markets for Canadian producers was the 3% appreciation of the Canadian dollar in relation to the US dollar from December 2009 to March 2010.

The pulp market is expected to remain strong through the second quarter of 2010 as inventories held by producers and customers are well below what is considered to be a balanced market. Industry downtime is expected to continue to impact the supply/demand balance. Factors impacting industry downtime include reduced production due to planned maintenance downtime in the second quarter of 2010, delays of Chilean mills returning to capacity after the February 27 earthquake, and delayed restarts of idled mills.

On April 21, 2010 the Fund announced the monthly distribution of $0.12 per Fund unit for the month of April 2010, to be paid on May 14, 2010. Today the Fund announced an increase in the monthly distribution to $0.20 per Fund unit for the month of May 2010, to be paid on June 15, 2010, to unitholders of record at the close of business on May 31, 2010.

Additional Information

A conference call to discuss the first quarter 2010 financial and operating results will be held on Wednesday, April 28, 2010 at 8:00 a.m. Pacific time.

To participate in the call, please dial 416-641-2140 or Toll-Free 1-800-952-4972. For instant replay access, please dial 416-695-5800 or Toll-Free 1-800-408-3053 and enter participant pass code 4188430. The conference call will be webcast live and will be available at www.canforpulp.com/investors/webcasts.asp.

This news release is available on the Partnership's website at www.canforpulp.com.

About Canfor Pulp Income Fund

Canfor Pulp Income Fund is an unincorporated, open-ended trust established under the laws of Ontario, created to indirectly acquire and hold an interest in Canfor Pulp Limited Partnership. The Fund indirectly holds a 49.8% interest in the Partnership with Canadian Forest Products Ltd., a subsidiary of Canfor Corporation (collectively Canfor) holding the remaining 50.2% interest in the Partnership.

Forward-Looking Statements

Certain statements in this press release constitute "forward-looking statements" which involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results, performance or achievements expressed or implied by such statements. Words such as "expects", "anticipates", "intends", "plans", "will", "believes", "seeks", "estimates", "should", "may", "could" and variations of such words and similar expressions are intended to identify such forward-looking statements. The risks and uncertainties are detailed from time to time in reports filed by the Fund with the securities regulatory authorities in all of the provinces and territories of Canada to which recipients of this press release are referred to for additional information concerning the Fund and the Partnership, its prospects and uncertainties relating to the Fund, the Partnership and its prospects. These statements are based on management's current expectations and beliefs and actual events or results may differ materially. New risk factors may arise from time to time and it is not possible for management to predict all of those risk factors or the extent to which any factor or combination of factors may cause actual results, performance and achievements of the Fund and the Partnership to be materially different from those contained in forward-looking statements. The forward-looking statements are based on current information and expectations and the Fund and the Partnership assume no obligation to update such information to reflect later events or developments, except as required by law.

Forward-looking statements in this press release include statements made under:

- "Critical Accounting Estimates";

- "SIFT Conversion Rules";

- "Conversion to International Financial Reporting Standards";

- "Outlook - Pulp";

- "Outlook - Kraft Paper";

- "Financial Requirements and Liquidity";

- "Critical Accounting Estimates";

- "Conversion to International Financial Reporting Standards";

- "Distributable Cash and Cash Distributions".

Material risk factors that could cause actual results to differ materially from the forward-looking statements contained in this press release include: general economic, market and business conditions; product selling prices; raw material and operating costs; exchange rates; changes in law and public policy; and opportunities available to or pursued by the Fund and the Partnership. Additional information concerning these and other factors can be found in the Fund's AIF dated February 18, 2010, which is available on www.sedar.com.

Canfor Pulp Income Fund and Canfor Pulp Limited Partnership

First Quarter 2010

The information in this report is as at April 26, 2010.

CANFOR PULP INCOME FUND

The Fund is an unincorporated open-ended trust established under the laws of Ontario on April 21, 2006, pursuant to the Fund Declaration. The principal head office of the Fund is located at 1700 West 75th Avenue, Vancouver, BC, Canada. The Fund has been established to acquire and hold, through a wholly-owned trust, the Canfor Pulp Trust (the Trust), investments in Limited Partnership Units of the Partnership, and such other investments as the Trustees of the Fund may determine. The general partner of the Partnership is Canfor Pulp Holding Inc. (the General Partner) and each limited partner holds an ownership interest in the General Partner equal to its proportionate interest in the Partnership.

At April 26, 2010, there were a total of 35,493,505 Fund units issued and outstanding, and the Fund indirectly held a total of 35,493,542 units of the Partnership, representing 49.8% of the Partnership. Canadian Forest Products Ltd. (Canfor) held 35,776,483 Class B Exchangeable Limited Partnership Units, representing 50.2% of the Partnership. The Class B Exchangeable Limited Partnership Units are indirectly exchangeable for an equivalent number of Fund Units pursuant to the terms of an exchange agreement (Exchange Agreement) dated July 1, 2006 among Canfor, the Fund, the Trust, the Partnership and the General Partner. The Exchange Agreement contains, among other things, the procedure through which the Class B Exchangeable Limited Partnership Units may be exchanged for Fund Units.

Each unitholder participates pro-rata in any distributions from the Fund. Under present income tax legislation, income tax obligations related to the distributions of the Fund are the obligations of the unitholders and the Fund is only taxable on any amount not allocated to the unitholders.

SELECTED QUARTERLY FUND FINANCIAL INFORMATION


(thousands of
dollars, except
per unit amounts, Q1 Q4 Q3 Q2 Q1 Q4 Q3 Q2
unaudited) 2010 2009 2009 2009 2009 2008 2008 2008
---------------------------------------------------------------------------
Equity income
(loss) in Canfor
Pulp Limited
Partnership 16,222 7,562 9,098 724 (10,740) (12,947) 5,513 9,046
Net income (loss) 16,544 6,903 8,497 4,406 (10,740) (13,686) 5,208 7,015
Net income (loss)
per Fund unit $0.47 $0.20 $0.24 $0.12 $(0.30) $(0.39) $0.15 $0.20
Distributions
earned from the
Partnership and
declared to
unitholders 11,357 4,969 1,065 1,065 2,130 9,938 12,778 12,777
Distributions
declared per Fund
unit $0.32 $0.14 $0.03 $0.03 $0.06 $0.28 $0.36 $0.36
Partnership
adjusted
distributable cash
per unit(1) $0.57 $0.31 $0.16 $0.02 $(0.06) $0.02 $0.54 $0.19
---------------------------------------------------------------------------
Note: (1) Represents the Partnership's adjusted distributable cash on which
the Fund is dependent to make its own distributions. For further
details on the Partnership's adjusted distributable cash see the
Partnership's disclosure on at the end of this news release.





Equity income (loss) in Canfor Pulp Limited Partnership represents the fund's share of the Partnership's net income (loss). Net income (loss) is also impacted by future income tax expense (recovery) which is primarily influenced by changes in substantively enacted tax rates and the difference between the tax basis of the Fund's pro-rata ownership of the Partnership's assets and liabilities and the respective amounts reported in the financial statements.

OPERATING RESULTS AND LIQUIDITY

For the quarter ended March 31, 2010, the Fund had net income of $16.5 million or $0.47 per Fund unit. The net income was the Fund's share of the Partnership's income for the first quarter of 2010, and also includes a future income tax recovery of $0.3 million. The future income tax recovery represents an adjustment to the future income tax liability based on the Fund's share of the differences between accounting and income tax values of the Partnership's assets and liabilities. The Fund's equity income in the Partnership increased by $8.6 million when compared to the prior quarter due to the Fund's share of increased operating earnings of the Partnership, partially offset by the Fund's share of non-operating items. The Fund's share of operating earnings increased by $9.0 million due primarily to higher realized prices in Canadian dollar terms for the Partnership's pulp and paper products and lower unit manufacturing costs. The Fund's share of non-operating items included in equity income of the Partnership for the first quarter of 2010 is nil, as the foreign exchange gain on translation of US dollar denominated long-term debt and the gain on derivative financial instruments were offset by a foreign exchange loss on working capital and net interest expense. Distributions declared by the Partnership and accruing to the Fund were $11.4 million of which $4.3 million was receivable at March 31, 2010. Cash distributions received from the Partnership are the only source of liquidity for the Fund. The Fund's requirements for administrative services are minimal and are funded and expensed by the Partnership. For further information refer to the Partnership's discussion of operating results and liquidity.

FUND DISTRIBUTIONS

The Fund is entirely dependent on distributions from the Partnership to make its own distributions and declares distributions on a monthly basis with the record date on the last business day of each month and payable within the 15 days following. Distributions payable by the Partnership to the Fund and distributions payable by the Fund to its unitholders are recorded when declared. During the first quarter of 2010, the Fund declared distributions of $0.32 per Fund unit or $11.4 million.

Monthly cash distributions from the Partnership are not directly equal to the Fund's pro-rata share of the Partnership's income (loss) under the equity method. This is primarily due to capital expenditures, foreign exchange gains or losses on translation of US dollar denominated debt, changes in value of derivative instruments, amortization, and other non-cash expenses of the Partnership.

RISKS AND UNCERTAINTIES

The Fund is subject to certain risks and uncertainties related to the nature of its investment in the Partnership and the structure of the Fund, as well as all of the risks and uncertainties related to the business of the Partnership. A comprehensive discussion of these risks and uncertainties is contained in the Fund's Annual Information Form dated February 18, 2010, which is available on www.sedar.com and www.canforpulp.com.

FUND UNITS

At April 26, 2010, there were a total of 35,493,505 Fund units outstanding.

RELATED PARTY TRANSACTIONS

All accounting, treasury, legal and administrative functions for the Fund are performed on its behalf, without charge, by the Partnership pursuant to a support agreement. Distributions earned from the Partnership for the three months ended March 31, 2010 were $11.4 million of which $7.1 million was received, with the balance of $4.3 million receivable on March 31, 2010.

 The Business

The Partnership is a leading global supplier of pulp and paper products with operations based in the central interior of British Columbia. The Partnership's strategy is to maximize cash flows and enhance the value of its assets by: (i) preserving its low-cost operating position, (ii) maintaining the premium quality of its products, and (iii) opportunistically acquiring high quality assets.

The Partnership owns and operates three mills with annual capacity to produce over one million tonnes of northern softwood market kraft pulp, 90% of which is bleached to become NBSK pulp for sale to the market, and approximately 140,000 tonnes of kraft paper.

SUMMARY OF SELECTED PARTNERSHIP RESULTS


(millions of dollars, except for per unit Q1 Q4 Q1
amounts, unaudited) 2010 2009 2009
---------------------------------------------------------------------------
Sales 239.5 220.2 186.3
EBITDA (1) 44.1 27.3 2.2
Operating income (loss) 32.5 14.4 (9.8)
Net income (loss) 32.5 15.2 (21.6)
---------------------------------------------------------------------------
---------------------------------------------------------------------------
Per Partnership unit, basic and diluted
Net income (loss) $0.46 $0.21 $(0.30)
EBITDA $0.62 $0.39 $0.03
---------------------------------------------------------------------------
---------------------------------------------------------------------------
Average exchange rate (US$/Cdn$) (2) 0.961 0.947 0.803
---------------------------------------------------------------------------
---------------------------------------------------------------------------
Notes: (1) For calculation of EBITDA, see supplementary financial
information at the end of this news release.
(2) Source - Bank of Canada (average noon rate for the period).





EBITDA for the first quarter of 2010 increased by $16.8 million from the fourth quarter of 2009 and was $41.9 million higher when compared to the first quarter of 2009. The improved results when compared to the fourth quarter of 2009 are attributable to higher prices for pulp and paper products, lower unit manufacturing costs and higher pulp shipments, partially offset by the stronger Canadian dollar and lower electricity sales. Realized pulp prices in Canadian dollar terms increased 6% due to a 7% increase in NBSK pulp US dollar list price, partially offset by the strengthening of the Canadian dollar. Realized paper prices in Canadian dollar terms increased 8% when compared to the fourth quarter of 2009. Unit manufacturing costs decreased 4% when compared to the prior quarter due to lower spending on maintenance costs, partially offset by higher fibre costs. Fibre costs increased 2% when compared to the prior quarter due to an increase in the price of sawmill residual chips.

The Prince George Pulp and Paper Mill maintenance outage, initially scheduled to take place in the second quarter of 2010 was moved to coincide with unplanned maintenance requiring the shutdown of the mill's recovery boiler. This shutdown reduced pulp production by approximately 22,000 tonnes and reduced EBITDA by approximately $11.0 million in the quarter. Included in these amounts were approximately 4,000 tonnes and $4.0 million attributable to the maintenance outage originally planned for the second quarter of 2010. The major maintenance expenditures incurred during the shutdown were deferred and will be amortized in accordance with the Partnership's accounting policy for treating "Major Maintenance Costs".

When compared to the first quarter of 2009, the $41.9 million increase in EBITDA was primarily attributable to a 31% increase in NBSK pulp US dollar list price, lower unit manufacturing costs and higher sales volumes, all of which were partially offset by a stronger Canadian dollar and lower realized paper prices in Canadian dollar terms. Realized pulp prices in Canadian dollar terms increased 15% as a 31% increase in NBSK pulp US dollar list price and a decrease in the proportion of sales into lower margin business, were partially offset by a 20% strengthening of the Canadian dollar. Unit manufacturing costs were 9% lower when compared to the same period in the prior year. The reduction in unit manufacturing costs was the result of higher production volumes, and lower fibre, chemical and energy costs. Production volumes were higher primarily as a result of the market curtailment in January 2009 and significantly improved operating rates in the current period. The reduction in fibre costs is attributable to a reduction in the volume and cost of whole log chips, partially offset by increased price of sawmill residual chips. Paper prices decreased 15% when compared to the first quarter of 2009 due to the stronger Canadian dollar, partially offset by improved paper markets.

 OUTSTANDING UNITS

At April 26, 2010, there were 71,270,025 Limited Partnership Units outstanding, of which 35,493,542 units (consisting of 14,254,005 Class A Limited Partnership Units and 21,239,537 Class B Limited Partnership Units) were owned by the Fund through Canfor Pulp Trust and 35,776,483 Class B Exchangeable Limited Partnership Units were owned indirectly by Canfor.

RELATED PARTY TRANSACTIONS

The Partnership's transactions with related parties are consistent with the transactions described in the December 31, 2009 audited consolidated financial statements and are based on agreed upon amounts, and are summarized in note 9 of the unaudited interim consolidated financial statements.

INTERNAL CONTROLS OVER FINANCIAL REPORTING

During the quarter ending March 31, 2010, there were no changes in the Partnership's internal controls over financial reporting that materially affected, or would be reasonably likely to materially affect, such controls.

RISKS AND UNCERTAINTIES

A comprehensive discussion of risks and uncertainties is included in the Fund's Annual Information Form dated February 18, 2010, which is available on www.sedar.com and www.canforpulp.com.

SELECTED QUARTERLY PARTNERSHIP FINANCIAL INFORMATION


(millions of
dollars unless
otherwise noted, Q1 Q4 Q3 Q2 Q1 Q4 Q3 Q2
unaudited) 2010 2009 2009 2009 2009 2008 2008 2008
----------------------------------------------------------------------------
Sales and Income
Sales 239.5 220.2 202.0 205.0 186.3 186.1 215.4 212.6
Operating income
(loss) 32.5 14.4 12.4 (5.0) (9.8) (1.0) 27.5 11.6
EBITDA 44.1 27.3 25.1 7.2 2.2 9.8 40.6 24.0
Net income (loss) 32.5 15.2 18.3 1.5 (21.6) (26.0) 11.1 18.2
----------------------------------------------------------------------------
Per Partnership
unit (dollars)
Net income (loss)
basic and diluted $0.46 $0.21 $0.26 $0.02 $(0.30) $(0.36) $0.15 $0.26
----------------------------------------------------------------------------
Statistics
Pulp shipments
(000 mt) 268.4 258.6 259.5 286.2 240.3 208.2 234.5 233.8
Paper shipments
(000 mt) 37.7 38.1 37.4 34.3 25.2 24.4 31.6 33.7
----------------------------------------------------------------------------
Average exchange
rate
(US$/Cdn$)(1) 0.961 0.947 0.912 0.858 0.803 0.825 0.960 0.990
----------------------------------------------------------------------------
Average NBSK pulp
list price -
(US$ per tonne,
delivered to USA) 880 820 733 645 673 787 880 880
----------------------------------------------------------------------------
Per Partnership
unit (dollars)
Adjusted
distributable
cash per unit(2) $0.57 $0.31 $0.16 $0.02 $(0.06) $0.02 $0.54 $0.19
Distributions
declared per unit $0.32 $0.14 $0.03 $0.03 $0.06 $0.28 $0.36 $0.36
----------------------------------------------------------------------------
Notes: 1 Source - Bank of Canada (average noon rate for the period).
2 For further details on the Partnership's adjusted distributable
cash see the Partnership's disclosure at the end of this news
release.





PostSubject
#4   No stocks this month.. 10 bagger 11/17/10 03:06:11 PM
#3   ADSY NEWS http://ih.advfn.com/p.php?pid=nmona&article=43795781&symbol=NB%5EADSY bigarow 07/29/10 09:08:03 AM
#2   AMNF.. $0.50,, 8.42% 10 bagger 07/28/10 03:08:44 PM
#1   CFPUF.. $13.643.. First selection 10 bagger 07/23/10 09:34:44 AM
PostSubject