Armanino Foods of Distinction Inc. (AMNF)
Stock trading 4x it's average daily volume.
Armanino Foods of Distinction, Inc. Reports Highest Quarterly Sales, Profits and Earnings Per Share in Its History goo.gl
Armanino Foods of Distinction, Inc. (OTC Pink Sheets Symbol: AMNF) today reported its highest quarterly sales, profits and earnings per share in the Company’s history. Year to date results for sales, profits and earnings per share are also Company records.Net sales for the second quarter of 2012 were $7,097,885 as compared to $6,290,645 for Q2 2011, an increase of 13%.Income from continuing operations before taxes for the second quarter of 2012 was $1,304,763 compared to $1,088,307 for the same quarter in 2011, an increase of 20%. Earnings per share for the second quarter of 2012 were $0.025 as opposed to $0.020 for the second quarter of 2011, an increase of 25%.
Edmond J. Pera, President and CEO of Armanino Foods, said, “International sales in the second quarter were especially strong contributing to the sales increase.”Pera continued, “We expect our margins to remain healthy for the remainder of this year thanks to raw materials pricing contracts that we have in place through the end of 2012. As usual, we will closely monitor the outlook of our material costs so that we can manage our margins appropriately. We currently do not have any plans to raise our selling prices and plan to use this pricing strategy to try and increase our market share. We continue to see a greater consumer awareness of pesto sauces in the market place which in our opinion could lead to overall market expansion.” The company keeps producing higher results every quarter as they expand their operation throughout the U.S. and now Internationally (in a limited approach) It's a slow and steady approach limited to their plant capacity and not over promising product that can not be delivered in quantity and quality.
FWIW, I still plan to peel of some shares at $0.90 or higher.
EKS |