Armanino Foods of Distinction, Inc., Announces Record Sales and Net Income For The Third Quarter and Year To Date
Oct 20, 2011
OTC Disclosure News Service
Hayward, CA –
Armanino Foods of Distinction, Inc. (Pink Sheets Symbol: AMNF) today reported record third quarter sales and profits compared to 2010’s third quarter. Year to date results for sales and profits are also company records.
Net sales for the third quarter of 2011 were $6,697,665 as compared to $5,956,914 for Q3 2010, an increase of 12%.
Income from continuing operations before taxes for the third quarter of 2011 were $1,105,803 compared to $1,058,321 for the same quarter in 2010, an increase of 4%. Net Income for the same periods rose to $676,394 from $650,076 respectively, an increase of 4%.
For the first nine months of 2011, net sales, income before taxes, net income and earnings per share are company records.
Net sales for the nine months of 2011 were $18,852,780 compared to $17,086,409 in 2010, an increase of 10%. Net income for the same period rose by 9% to $1,904,132 in 2011 from $1,744,402 in 2010. Earnings per share for the first nine months of 2011 amounted to $0.056 compared to $0.050 posted in 2010.
Edmond J. Pera, President and CEO of Armanino Foods stated, “We are extremely gratified about our third quarter and year to date numbers. All sales areas of our food service business exceeded last year’s totals.”
Pera concluded, “Although our fourth quarter profits a year ago were strong, we believe that our fourth quarter results for this year will also be strong.”
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 Light Basil Pesto, Cilantro, Dried Tomato Garlic, Roasted Red Bell Pepper, Southwest Chipotle, Artichoke and Roasted Garlic. Armanino’s Organic line includes classic Basil Pesto. Frozen Pastas, Sauces, Meatballs and Focaccia are also offered by Armanino Foods.
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