Armanino Foods of Distinction Inc (AMNF)

[31set]

Record 2016 sales (+3%) and net income (+5%) despite a weaker Q4. Q4 2016 was down compared to Q4 2015 for both sales (-5%) and net income (-6%). Management cites notably weaker Asian sales due to a weaker economy in that part of the world as the reason. The domestic market remained strong.

The company's previously announced $3.5 million expansion plans to keep up with food safety requirements and expected sales increases are expected to be complete by the end of Q3 2017. AMNF also continues to invest in promotional efforts.

Management cites several exciting and significant opportunities they expect to close in 2017, but without giving any details.

AMNF remains financially solid. Management continues to express a cautiously optimistic outlook. 2016 was another record breaking year. Q4 2016 was another solid and profitable quarter, but not another record-breaker.