Armanino Foods of Distinction Inc (AMNF)

[Amigo Mike]

Will be interesting to see how the current qtr shakes out in a couple weeks. The stock has basically been sitting for a while now.

Still content to collect big divys on early purchases.
Amigo Mike

[jbaxter]

I'm in and still buying a hundred here and there with my pocket change (maybe more depending on cash and price). Patience is what will pay off.

[Amigo Mike]

Dividend Announcement

http://www.businesswire.com/news/home/20160825006135/en/CORRECTING-REPLACING-Armanino-Foods-Distinction-Announces-Regular

>>>>>>>>>>>>>
August 29, 2016 09:02 AM Eastern Daylight Time


HAYWARD, Calif.--(BUSINESS WIRE)--The date in the first paragraph, first sentence of the release dated Aug. 25, 2016, should read: October 3, 2016 (instead of October 7, 2016).

The corrected release reads:

ARMANINO FOODS OF DISTINCTION, INC. ANNOUNCES REGULAR QUARTERLY DIVIDEND

Armanino Foods of Distinction, Inc. (OTC Pink: AMNF) announced today that its board of directors has declared its regular quarterly cash dividend of $0.020 per share payable to shareholders of record October 3, 2016. The dividend will be disbursed on or about October 28, 2016. This dividend will be the Company’s 65th consecutive regular quarterly dividend. In addition, the Company has had ten special dividends.

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, Bolognese and Alfredo sauce. Armanino’s organic line includes classic Basil Pesto. Armanino Foods also offers cheese shakers, frozen pastas and meatballs.

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).

This press release contains forward-looking statements within the meaning of U.S. securities laws. These forward-looking statements are subject to certain risks and uncertainties that could cause the actual results to differ materially from those projected. The Company assumes no obligation to update the information included in this press release.

Contacts

Armanino Foods of Distinction, Inc.
Edgar Estonina, 510-441-9300
CFO
[e-mail]
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Amigo Mike

[Amigo Mike]

Been quiet around these parts of late.

AMNF seems to have hit a plateau for a while here. Begs the question as to when the next move comes.

Amigo Mike

[Amigo Mike]

Armanino Foods of Distinction, Inc., Reports Year to Date Record Sales and Earnings Despite Lower Results for the Second Quarter of 2016

July 15, 2016

HAYWARD, Calif.--(BUSINESS WIRE)--

Armanino Foods of Distinction, Inc. (OTC Pink: AMNF) today reported record breaking sales and earnings for the six months ending June 30, 2016, despite lower results for the second quarter.

Net sales for the second quarter ended June 30, 2016 were $8,704,319 compared to $9,010,012 for the same period last year, a decrease of 3%. Income from operations for the second quarter of 2016 was $1,735,629 compared to $1,868,470 for the comparable quarter a year ago, a decrease of 7%. Earnings per share for the first quarter of 2016 was $0.034, compared to $0.036 for the same quarter a year ago, a decrease of 6%.

Net sales for the six months of 2016 were $17,695,561 compared to $17,153,829 for the same period last year, an increase of 3%. Income from continuing operations in this period for 2016 were $3,456,989, compared to the 2015 figure of $3,434,447, an increase of 1%. Earnings per share for the six months of 2016 amounted to $0.068 compared to the $0.066 posted in 2015, an increase of 3%. Both year to date sales and year to date profits for the 2016 six month period are record breaking results.

Edmond J. Pera, President and CEO of Armanino Foods stated, “Year to date sales in both our US and Asian markets are higher this year than in any prior year. Second quarter sales are lower than the same period last year mainly due to timing delays in closing several domestic deals, as well as the effects of weak economic conditions in our Asian markets. To put our quarterly results into perspective, we were up against very strong sales’ results in last year’s second quarter which was our second highest sales quarter ever. Further, profits for Q2 2016 are currently the third highest ever; last year’s second quarter profits were the second highest.”

Pera continued, “The Company has been working on several significant domestic relationships, and after a long cycle of product testing and customizing, we believe we are close to finalizing. Although we expect sales in our Asian markets to pick up in the third quarter, we remain guarded on the near term outlook for that market since it continues to be subject to currency challenges and slower economic growth.”

Pera concluded, “Our current sales pipeline and cash position remain strong. The Company remains cautiously optimistic about its ability to achieve a strong end to this fiscal year. We continue to be committed to investing in our plant expansion in order to meet expected future demand, and are still in the process of planning this significant undertaking.”

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, 2016 (Unaudited)

2016

2015

Net Sales $8,704,319 $9,010,012
Income From Cont. Operations Before Taxes $1,735,629 $1,868,470
Net Income $1,093,446 $1,144,803
Basic Income Per Common Share $0.034 $0.036
Weighted Average Common Shares Outstanding 32,065,645 32,065,645
Diluted Income/(Loss) Per Common Share $0.034 $0.036
Diluted Weighted Average Common Shares Outstanding 32,065,645 32,065,645


Armanino Foods of Distinction, Inc.
Results for Six Months Ending June 30, 2016 (Unaudited)

2016

2015

Net Sales $17,695,561 $17,153,829
Income From Cont. Operations Before Taxes $3,456,989 $3,434,447
Net Income $2,177,903 $2,104,548
Basic Income Per Common Share $0.068 $0.066
Weighted Average Common Shares Outstanding 32,065,645 32,065,645
Diluted Income/(Loss) Per Common Share $0.068 $0.066
Diluted Weighted Average Common Shares Outstanding 32,065,645 32,065,645

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.

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[Amigo Mike]

Another raise in the dividend is a good sign. AMNF mgmt typically is quite conservative and a raise in the divvy should signal revenues and earnings on the rise.

Amigo Mike

[A Dinosaur]

Hopefully, not in my lifetime.

Dino

[31set]

Another AMNF dividend increase, and a quarter earlier than I was expecting it. Quarterly dividend is now up to $0.02 per share. When will it ever end?

[protagonist12]

AMNF getting kinda tired of all the seeking alpha pump pieces on this stock lately. How many times do they have to restate the same stuff?

[Amigo Mike]

LOL,

Five times 30 day average volume up til now for the day and a number of bids on L2 just waiting for more.

My only hope is those buying do take the advice in the article that this is not a trading stock ........ but a multiyear hold. Someone appears willing to part with shares today as well.

Amigo Mike

[Amigo Mike]

Thanks Morokko,

For some reason I didn't get that article from SA.

One of the better written articles that discusses AMNF. Author points out a number of reasons why I have held this stock for years. It is a diamond in the rough.

Quite frankly surprised it even got consideration given that it is OTC. But will certainly take any spotlight that can be shed on the company. And the author is correct. This is basically a buy and place the stock in the corner of the portfolio ...... and leave it alone, checking on it every so often.

Amigo Mike

[morokko65]

A new article on AMNF, nice to see the good reviews. Years ago, virtually no one followed this stock.

http://seekingalpha.com/article/3973134-finding-best-dividend-growth-stock-market

[Amigo Mike]

Morokko,

It is a nice historical review of AMNF but yields almost nothing about future potential. My take on it is that despite it being a pink sheet stock, historically mgmt has gotten the job done and an investor could expect the trend to continue.

Amigo Mike

[morokko65]

Nice write up on AMNF over at seeking alpha today
http://seekingalpha.com/article/3966414-security-like-best-armanino-foods?source=feed_f

[Amigo Mike]

AMNF just keeps on posting solid results. I expect the trend to continue.

Amigo Mike

[Amigo Mike]

Armanino Foods of Distinction, Inc. Announces Record Sales and Earnings for the First Quarter of 2016
Business Wire Armanino Foods of Distinction, Inc.

HAYWARD, Calif.--(BUSINESS WIRE)--

Armanino Foods of Distinction, Inc. (OTC Pink: AMNF) today reported record sales and profits for the first quarter ending March 31, 2016.

Net sales for the first quarter ended March 31, 2016 were $8,991,242 compared to $8,143,817 for the first quarter of 2016, an increase of 10%. Income from operations for the first quarter of 2016 was $1,721,360 compared to $1,565,976 for the comparable quarter a year ago, an increase of 10%. Net income for the first quarter of 2016 was $1,084,457 compared to $959,746, an increase of 13%. Earnings per share for the first quarter of 2016 was $0.0338, compared to $0.0299 for the same quarter a year ago, an increase of 13%.

Edmond J. Pera, President and CEO of Armanino Foods said, “We are very pleased with our record breaking results for the first quarter. The growth in our revenue came from both our domestic and Asian markets. We secured business from a new and substantial US customer which ramped up its purchases this quarter in order to build up its initial inventory. Our strategy of aggressively investing in domestic promotional expenditures has been a contributing factor behind the growth of our US markets. While the natural consequence of this strategy has been lower incremental margins, the company has been able to solidly maintain its overall profitability. The year over year growth rate of first quarter sales within our Asian markets was at its highest level compared to any of the previous four quarters. Further, this is the second quarter in a row that we have seen growth within this region. Despite these positive trends, our outlook regarding sales into our Asian markets remains guarded.”

Pera continued, “To ensure that the Company has enough capacity to meet expected higher demand, we are currently in the process of planning for substantial investments to expand our manufacturing plant capacity. The estimated cost for this project and our plan to fund it will be determined within the second quarter of this year. Our goal is to begin construction in the third quarter of this year, and to complete it by the end of this year or shortly thereafter.”

Pera concluded, “Our sales pipeline and our cash position currently remain strong. We are cautiously optimistic about our financial performance for the remainder of this year.”

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 the Quarter Ended 3/31/16 (Unaudited)


2016 2015
Net Sales $8,991,242 $8,143,817
Income From Cont. Operations Before Taxes $1,721,360 $1,565,976
Net Income $1,084,457 $959,746
Basic Income Per Common Share $0.0338 $0.0299
Weighted Average Common Shares Outstanding 32,065,645 32,065,645
Diluted Income/(Loss) Per Common Share $0.0338 $0.0299
Diluted Weighted Average Common Shares Outstanding 32,065,645 32,065,645


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

View source version on businesswire.com: http://www.businesswire.com/news/home/20160415005476/en/
Contact:
Armanino Foods of Distinction, Inc.
Edgar Estonina, 510-441-9300
COO
[e-mail]

[31set]

Q1 2016 YoY record sales (+10%) and net profits (+13%). Significant new customer, need to expand to meet expected demand. Sounds good to me. Steady as she goes!

[sagedono]

Strange but true, I am also out over the last few days with an itsy profit.I don't have PM, so good luck to you also.Catch me at SYEV (sorry, not a pump)tee he.... :) sagedono

[Trueheart]

I'm all out at $2.03, Sagedono.

Overall this was a losing investment for me. But then, my lack of patience at times has caused me dearly.

Best wishes for the company's and your success, my friend.

Trueheart

[Amigo Mike]

Seeking Alpha mention

http://seekingalpha.com/article/3886106-buffett-small-cap-gem-armanino-foods-distinction

... although the article is lacking any true insight. Nice to see the mention regardless. More eyes on it.

Amigo Mike

[sagedono]

No worries here, all smiles. Like a rock! AMNF

[31set]

Record Q4 & 2015 sales and profits! Sounds like more good news is on the way. AMNF just keeps growing nice and steady. Sooner or later, the stock price will move up again and shatter the former highs. Till then, just keep collecting the already nice and growing dividends while the rest of the world buys government bonds at negative interest rates for a guaranteed loss!

[Amigo Mike]

Morokko,

I like the earnings. Looks solid. Also like the peak into the 1st qtr.

I'd love to know what the exciting projects are.

Bottomline this company continues to be rock steady.

Amigo Mike

[morokko65]

Solid earnings today, Sales over $9MM... looks like Ed Pera is keeping the train on the track. if they grow 10 this year, we should be at close to .14 EPS annually. at 18x that puts us at $2.49. Needs to get above $2.05-2.10 to retest highs

[31set]

Trueheart, how do you know that large blocks of stock are being sold by insiders? If true, it seems like potentially important information and a red flag.

[Trueheart]

Perhaps the company should change its name to "Amanino Foods of Distraction."

Could be those big insider sells were looking at coming results.

Or perhaps not.

Still here but lighter. I was the one who sold those 700 shares at $2.35.

Looking for good numbers.

Trueheart

[morokko65]

strong volume this week with a lot volatility, looks like big bets are being made one way or the other... volume tends to precede price on AMNF, so we shall see. Don't think AMNF would have made positive comments on 12/03 if Q4 was sideways growth, but always concerned that I see MY trade in the chart, not objectivity. $2.05 -$2.10 will be a big resistance point on the way up, followed by $2.20s

Still think they could see .15-16 a share this year and $2.65-2.85 on a divvy bump to .02 or better as vote of confidence

[Amigo Mike]

Yes morokko,

I had just been looking at AMNFs chart positioning this past week as I review and evaluate my holdings.

I agree it does appear as you say. This company has been solid for years. Should remain a keeper as long as there are no surprises.

Amigo Mike

[morokko65]

Weekly chart starting to look constructive for the first time in a while on AMNF. 40K shares yesterday and we appear to be forming a low. Last update was in the divvy announcement which re-iterated positive 4Q sales comments. dont know if this chart link will post:

http://stockcharts.com/h-sc/ui?s=AMNF&p=W&yr=3&mn=0&dy=0&id=p15289751322

[BLUEVOODU]

yeah, there just isn't a lot of information. This started to climb but lost a bit of steam as of late... Not a lot though.

I'm still on the fence about investing more into this... the company still looks good...so idk. Maybe there is good opportunity here. If it hits 1.89 again, I may drop some more money into this position.

What I do know is that I'm taking a beating across the board right now :)

[Amigo Mike]

AMNF seems to be .... ever so slowly ...... climbing back northward after weathering some size selling.

Too bad there isn't a bit more information on how things stack up currently. Slow and steady though.
Amigo Mike

[sagedono]

I think this pull back had less to do with the numbers or the company, just a needed rest stop on a long journey up the chart.Some big fish wanted out.This company has never been about BS or fluff and we have both shared an experience in that area. I say opportunity.sagedono

[Trueheart]

At the 52-week low the share price was down over 22% from the 52-week high. This is the most dramatic drop in the last five years by far.

Lots of selling for at least a month.

Sagedono, you're getting your wish, darn it.

Trueheart

[sagedono]

Just home for lunch and saw the 1.89s.....I gotta watch what I say.Sorry longs, but I needed more shares. :)

[Trueheart]

Well, there you go, Sagedono.

Your 80s are served.

Trueheart

[morokko65]

Good call! $2.10 is next resistance... May take a little while to build a base as weak hands exit. Would like to see revenues in 2016 stay in the $9MM a quarter range and start seeing consistent eps of .035-.04 a quarter. That would support a divvy of .02-.022

[sagedono]

I think bottom was set at 1.90 today. IMO sagedono

[sagedono]

Good observations morokko65, I couldn't agree more. I see nothing but opportunity here at a pps we will probably never see again.That's why I was joking about it would be great to see $1.80s, because it does NOT deserve to get that low (and won't now) IMO. sagedono

[morokko65]

Remember, this corrected 22% in 2014 and 21% in 2013... I think people got complacent that each quarter would always exceed expectations. Q3 2014 was tremendous, and a difficult comparison. They have a ton of cash and debt will be gone soon.

Maybe we get a special div due to all the cash; should know in 4-5 weeks

[sagedono]

Many here have been in since 2007 and another large group came aboard between 2011 - 2013. I think with this little hiccup it caused a tipping point and shares are changing hands. It was a great multi year run of dividends and with an uncertain market (asia), many pulled the sales trigger and moved on.I have waited a long time to catch shares low enough to come back in. This little stock has a great reputation,and I'm sure there are many that regret getting out.sagedono

[Amigo Mike]

Trueheart,

Any number of reasons to sell ....... few to buy ..... someone is buying up all those shares being sold ..... not willing to say the bottom is in but clearly larger blocks are being traded .... so someone is willing to absorb shares at these prices.

Amigo Mike

[Trueheart]

Hey, Sagedono,

Whats interesting to me is that large blocks of shares (for this company) are trading at or near the 52-week low. Support seems to be lacking. I mean, what can one make on shares selling at that level?

Trueheart

[sagedono]

gotta watch what I ask for. :)

[Trueheart]

Hey, Sagedono,

It's good to see you around.

Your patience has paid off for that 3rd re-entry, picking up "cheapies" around the 52-week low. Good luck with your buys.

I'm not quite sure I'd agree with your call for "awesome" 1-80s.

Trueheart

[sagedono]

Hi Trueheart, long time.
I have watched the slide also and waited patiently for my 3rd re-entry in 7 or 8 years. filled some 1.95s today, not as lucky on my 1.93 and 1.91 bids.Good luck here, not to worried about pps, some 1.80s would be awsome!

[Trueheart]

Dunno, BV. Perhaps someone with greater knowledge of the company has a good answer.

However, big sells occurred prior to the earnings announcement and are occurring now.

The company's 2015 looks pretty good overall and if the 4th quarter is solid perhaps the share price will get back on track.

Sales me hearties, the sales must go up.

Trueheart

[BLUEVOODU]

I guess I don't fully understand the drastic fall in price. Their last announcement wasn't "bad" in the realm of truely bad news.

Is something else going on we're not seeing?

[Trueheart]

The good: Google Finance has the dividend yield at 3.84% at today's price close.

The bad: The share price has been in a three month decline.

Hopefully, the bottom has been reached and the company will report a good 4th quarter.

Trueheart

[Trueheart]

The share price touched the 52-week low under heavy volume for this stock.

Trueheart

[A Dinosaur]

Quote: "After all, isn't food one of the last things one wants to give up when times get tough?"

Yes, but Armanino's product is probably a luxury in China. For that matter, here in the States , as well. When times look like they are going to be or are tough, yoou revert to the staples.

I agree that expanded distribution is the way to go. I'm on the east coast and wonder if I'll see the products in my lifetime.

Dino