Re: Armanino Foods (AMNF) - out w/ another excellent report
AMNF out with another blow out quarter Record highest quarterly and Q3 YTD Sales & profit in Company's history
Armanino Foods of Distinction, Inc. Reports Highest Quarterly and Q3 YTD Sales and Profits in Company’s History
Armanino Foods of Distinction, Inc. (OTCQX: AMNF) reported its highest quarterly and Q3 YTD sales and profits ever for the third quarter ending September 30, 2024. This marks the 2nd quarter in a row of record breaking quarterly results. Armanino continued its profitability streak for the 84th quarter in a row.
Net sales for the third quarter of 2024 were $17,667,112 compared to $16,080,357 for the same period last year, an increase of 10%. Income before taxes for Q3 2024 was $5,514,502 compared to $3,050,210 for the same quarter in 2023, an increase of 81%. Net income for this period was $4,102,730 (or $.1280 per share), compared to $2,263,971 (or $.0706 per share) for the same quarter a year ago, an increase of 81%.
Net sales for the first nine months of 2024 were $50,868,879 compared to $47,468,553 for the same period last year, an increase of 7%. Income before taxes in this period for 2024 was $13,744,171, compared to the 2023 amount of $8,318,451, an increase of 65%. Net income for the first nine months of 2024 was $10,225,474 (or $0.3189 per share), compared to $6,188,927 (or $0.1930 per share) posted for the same period in 2023, an increase of 65%.
The hidden story is the company made a huge investment in early 2023 in new equipment w/ new technology allowing them to manufacture more product at lesser costs. Their Cost Of Goods as a percentage of Revenues keep falling YoY. That's the combination you want especially w/ FCF growth.
The next big milestone is if/when they open up an East Coast manufacturing facility using everything they learned w/ their new equipment production line. Maybe this happens in 2-3 years.
Would love to see them get their products in Costco. Even sell a sample gift basket that includes all of their quality products. |
