Armanino Foods Of Distinction, Inc. Reports Record Breaking Sales And Earnings For The Fourth Quarter And For The Year Ended December 31, 2019
Armanino Foods of Distinction, Inc. (OTC Pink: AMNF) reported record-breaking sales and earnings for the fourth quarter and for the year ended December 31, 2019.
Net sales for the fourth quarter of 2019 were $10,929,061 compared to $10,265,532 for the previous year, an increase of 6%. Income before taxes for Q4 2019 were $1,795,737 compared to $1,670,855 for the same quarter in 2018, an increase of 7%. Net income for this period increased to $1,422,805 (or $0.0444 per share), from $1,230,706 (or $0.0384 per share) for the previous year, an increase of 16%.
Net sales for the year ended December 31, 2019 were $42,551,202 compared to $41,838,018 for 2018, an increase of 2%. Income before taxes for 2019 were $8,181,402, compared to the 2018 figure of $8,126,086, an increase of 1%. Net income for the year ended December 31, 2019 was $6,484,997 (or $0.2022 per share), compared to $6,265,786 (or $0.1954 per share) for 2018, an increase of 3%.
Edmond J. Pera, President and CEO of Armanino Foods stated, "We are pleased with our record breaking results for the fourth quarter thanks to strong year over year growth in sales across all of our market channels, regions and product categories. This is our 65th quarter in a row of profitability." |
