Armanino Foods of Distinction Inc. (AMNF) - peeled off 10% of shares (bought 12/2011 @ $0.75/share) sold @ $2.25/share
Comtech Telecommunications Corp. (CMTL) - small add @ $10.83/share 10.25% div (until it gets cut)
Cypress Semiconductor Corporation (CY) - small add @ $10.81/share. 3.75% dividend
Armanino Foods of Distinction, Inc. Reports Highest Quarterly and Year to Date Sales and Earnings Ever
Net sales for the third quarter of 2016 were $9,388,778 compared to $8,488,032 for the same period last year, an increase of 11%. Income from continuing operations before taxes for Q3 2016 were $1,822,134 compared to $1,586,641 for the same quarter in 2015, an increase of 15%. Earnings per share in Q3 2016 were $0.036 compared to $0.030 in Q3 2015, an increase of 20%.
Very nice report, still a top 10 portfolio position.
Used the proceeds to Buy CY and CMTL. More for diversification w/ similar or higher dividend. CMTL & CY are both value/GARP plays. CMTL revenues +45% after merger and CY turned down a private equity deal at $15-$17 per share.
FWIW, also peeled off some SNFCA shares at $6.57/share (bought at 4/2016 @ $4.86/share) to pay for the CY & CMTL buys.
AMNF is one of those positions that continue to perform, grow and pay dividends. I have positions in IRA and taxable account. Their dividend will be the Company’s 64th consecutive regular quarterly dividend. In addition, the Company has had ten special dividends. What's not to like about that track record.
EKS
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