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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: Lazarus who wrote (39484)	9/29/2010 6:17:51 PM
From: E_K_S	Read Replies (1) \| Respond to of 78699

Hi Lazarus - Re: Armanino Foods of Distinction Inc. (AMNF.PK) This is an interesting and profitable micro cap company (EV $18 million). They are probably too small for Kroger to be interested in unless their manufacturing & distribution systems could be scaled up to cover a much larger geographical foot print. The company leases most if not all of their hard assets including buildings and some of their large processing machinery. One customer accounts for 62% of their business (could this be Kroger?). I see the value of their company is in their people, operation(s) and high quality product(s). The company produces high margin, healthy food products that continue to show good Q-to-Q growth. Their product(s) carry a high margin so it would be something that a Kroger could make good money on if integrated into their operations as a private label line. That said, they are just way too small to make any significant contribution to Kroger's bottom line. This company could be folded into a larger private label "value added" food business (one of several product lines). The key for Armanino Foods is to maintain their quality controls as they grow. I suspect that Kroger has many vendors where they represent the largest customer. Kroger could simply look at their vendor list, cherry pick the best (high margin) product lines and build their own private label business. Maybe this is the approach they will eventually take. This indeed is an unusual Penny stock selling at a 10 PE and paying a 7% dividend (including their "annual" special dividends). The company carries no debt and in fact has CD's worth $500K ($0.02/share) sitting in the bank (as reported in their Q2 2010 report). Stock issued in 2009 at $0.27/share has already more than doubled based on today's market price. This is one worth watching. I may even start a preliminary buy once I have had a chance to try some of their products. For a penny stock, this one seems to have a lot of value in it. It's like a Warren Buffet company. Just leave it alone and let the current owners grow the business. Thanks for the lead. EKS

To: Lazarus who wrote (39484)	10/20/2010 4:08:35 PM
From: E_K_S	Read Replies (1) \| Respond to of 78699

RE: Armanino Foods of Distinction Inc. (AMNF.PK) Upped my starter position. Company reported excellent sales for last quarter. Armanino Foods of Distinction, Inc. Announces Record Growth in Sales (+10%) and Record Growth in Net Income (+34%) For Q3 2010 Compared to Q3 2009 finance.yahoo.com Company looks like a a better value bet than SVU and they pay a higher dividend at 4.5%. Thank you for the initial heads up on this company. EKS

To: Lazarus who wrote (39484)	12/9/2010 5:33:15 PM
From: E_K_S	Read Replies (1) \| Respond to of 78699

Another Great Call Lazarus - After their special dividend in October, they announced a 21% increase in their dividend today. Pretty good for a penny stock. Thank's for the recommendation. Re: Armanino Foods of Distinction Inc. (AMNF.PK) Company Web site: armaninofoods.com This is the first penny stock that I have seen that pays a divided. It now yields 6% and they raised their dividend again! Armanino Foods of Distinction, Inc. Ups Regular Quarterly Dividend By 21% Press Release Source: Armanino Foods of Distinction, Inc. On Thursday December 9, 2010, 2:28 pm EST finance.yahoo.com HAYWARD, Calif.--(BUSINESS WIRE)-- Armanino Foods of Distinction, Inc. (Pink Sheets:AMNF.pk - News) today declared an increased regular quarterly dividend of $0.01 per share from its previous amount of $0.00825, an increase of 21%.This dividend will be payable on or about January 28, 2011 to share-holders of record January 3, 2011. This is the Company’s 42nd consecutive quarterly dividend. In addition, the Company has had nine special dividends the last of which was disbursed in October of 2010. Douglas R. Nichols, Chairman of the Board stated, “We are having an exceptionally strong year and think we should reward our shareholders accordingly. Our balance sheet remains very strong.” Armanino Foods of Distinction, Inc. is an international food company that manufactures and markets frozen Italian specialty food items such as pesto 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 and Mediterranean. Armanino’s Organic line includes classic Basil Pesto. Frozen pastas, sauces, meatballs and Focaccia are also offered by Armanino Foods. ================================================================== I started a tracking position on 10/17/2010 at $0.64. Company is up 11% and they even raised their dividend again. Company has a great balance sheet, over $500K cash in the bank and continue to increase their sales by double digits. EKS

To: Lazarus who wrote (39484)	3/2/2011 7:09:48 PM
From: E_K_S	Read Replies (2) \| Respond to of 78699

Hi Lazarus - Re: ARMANINO FOODS NEW (Other OTC: AMNF.PK ) finance.yahoo.com Web Site: armaninofoods.com I added another 20% to my previous position. This one has been slow and steady with an annual dividend yield now around 5% and a 28% increase in the stock price since my first buy in 10/2010. I really like the value that management continues to build in this company. Management has made 43 consecutive quarterly dividend payments in addition to nine special dividends over the same time period. They had over $500K in bank CD's at year end 2009 ready to deploy for new product opportunities. I now noticed that as of September 30, 2010, this amount has grown to over $860K (up 72% from the 2009 figure). The company has no debt, has increased sales every QTR and most recently landed some really new exciting distribution contracts in 2011. The company continues to buy back it's shares from time to time in the open market. Their 2010 results were quite impressive. The company got more efficient with their YoY and Qtr to Qtr - Net Income growth nearing 50%! Q4 2010 vs Q4 2009:..Net Sales Up 3.5%..Net Income Up 49% 2010 vs 2009:..............Net Sales Up 9%.....Net Income Up 47% Here is their full report that was released February 18, 2011. finance.yahoo.com I visited their leased company manufacturing facility (just up the road 34 miles) and it's the real thing (Google Maps: maps.google.com ). They produce a quality product w/ the best ingredients that is fresh frozen. They have recently expended their distribution points Coast to Coast (w/Dot Foods a food re distributor dotfoods.com ) from their company facility located in Hayward California. This small company (now w/ a Market Cap of $30 million) with $23 million in 2010 sales reminds me of a Warren Buffet company. They just keep plugging along, growing their revenues all accomplished from internal earnings (ie no debt). It may be selling at the high end of it's recent price range ($0.86/share) at 13x 2010 earnings however, I expect them to grow their earnings again by 35%-45% in 2011. That would make their Forward PE right around 9.5 at today's closing price. At some point, (as you pointed out) they may even be a candidate for a buy out by a larger food integrator. Thanks for the heads up back in September 2010. This is a micro-cap I don't mind holding. You get growth at a very reasonable "value" price. EKS

To: Lazarus who wrote (39484)	3/26/2011 10:03:53 PM
From: E_K_S	Respond to of 78699

/deleted

To: Lazarus who wrote (39484)	4/21/2011 3:24:37 PM
From: E_K_S	Respond to of 78699

/delete

To: Lazarus who wrote (39484)	9/26/2011 2:25:06 PM
From: E_K_S	Read Replies (2) \| Respond to of 78699

Armanino Foods of Distinction Inc. (AMNF.PK) Company increased their dividend so our penny stock now yields 6%. They are also buying back more shares. To date they have bought back 6.25% of their outstanding shares. Their new buy back announcement today for $2M when completed would represent the purchase of 7.25% of outstanding shares. ARMANINO FOODS OF DISTINCTION, INC., UPS REGULAR QUARTERLY DIVIDEND BY 20% AND CONTINUES STOCK BUY BACK PROGRAM Sep 22, 2011 OTC Disclosure & News Service Hayward, CA - Armanino Foods of Distinction, Inc. (Pink Sheets: AMNF) today declared an increased regular quarterly dividend of $0.012 per share. This new level is an increase of 20% from the prior regular quarterly dividend amount of $0.01. The dividend will be payable on or about October 28, 2011 to shareholders of record October 3, 2011. This dividend will be the Company’s 45th consecutive quarterly dividend. In addition, the Company has had nine special dividends. Douglas R. Nichols, Chairman of the Board stated, *“We are having an exceptional year and think we should reward our shareholders accordingly. Our balance sheet remains very strong.”* In addition, Mr. Nichols stated that the Company has continued its stock repurchases in the open market and that it has recently repurchased 300,000 shares of its common stock in a private block trade transaction from an unrelated non-affiliate stockholder. To date, since the inception of its stock repurchase program in September 2010, the Company has repurchased 2,064,742 shares of its common stock for an aggregate purchase price of $1,552,936. The Company has utilized its available line of credit to consummate these repurchases. After the shares acquired in the block trade transaction and other repurchase transactions previously conducted in the open market have been retired, the Company will have 33,053,038 shares outstanding. The Company’s board of directors has established $2,000,000 as the aggregate purchase authorization for the program. The repurchase program does not require the Company to acquire a specific number of shares and may be suspended from time-to-time or discontinued at any time. 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 and Roasted Garlic. Armanino’s Light Basil Pesto and Armanino’s Organic line includes classic Basil Pesto. Frozen Pastas, Sauces, Meatballs and Focaccia are also offered by Armanino Foods. ------------------------------------------------------------------------------------------------------------------------------------------------- Company continues to grow, is selling just a bit more than a 10 PE and continues to pay a 6% dividend with their announcement today. EKS