AMNF.. $0.50,, 8.42%
AMNF.. $0.50,, 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
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