Armanino Foods of Distinction, Inc. Reports Higher Sales and Profits for the 2nd Quarter and Year to Date Periods
Jul 16, 2015
OTC Disclosure & News Service
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Armanino Foods of Distinction, Inc. (OTC Pink Sheets Symbol: AMNF) reported today that it achieved the highest second quarter sales and earnings in its history. Six month figures for both sales and profits were the highest in the Company’s history.
Net sales for the second quarter of 2015 were $9,010,012 as compared to $7,664,883 for Q2 2014, an increase of 17.5%.
Income from continuing operations for the second quarter of 2015 was $1,868,470 compared to $1,591,231 for the same quarter in 2014, an increase of 17.4%. Earnings per share for the second quarter of 2015 were $0.036 compared to $0.030 for the second quarter of 2014, an increase of 20%.
For the six month period ended June 30, 2015 net sales were $17,153,829 compared to $14,971,208 for the same period a year ago, an increase of 14.6%. Income from continuing operations for this six month period rose by 14.9% to $3,434,447 from $2,989,499 for the same period in 2014. Earnings per share for the first six months of 2015 amounted to $0.066 compared to $0.057 posted in 2014, an increase of 15.8%.
Edmond J. Pera, President and CEO of Armanino Foods said, “We are very pleased with our strong financial performance for the quarter and year to date. The Company’s sales and profits reached new records because of solid and growing domestic sales in the second quarter. We posted excellent profit numbers despite incurring higher than normal promotional expenses.”
Pera added, “We will continue to invest heavily in promotional expenditures this year in order to profitably grow our domestic markets in the current and future years. We are on schedule to install a new piece of manufacturing equipment before the end of the third quarter. This new equipment will replace an older existing one and increase our manufacturing capacity.”
Pera concluded, “We are cautiously optimistic about our prospects for the remainder of this year. Our overall sales pipeline remains robust.”
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.
