Armanino Foods of Distinction, Inc. Announces
Record Growth in Net Sales +7% and Record
Growth in Profits +69% for the First Quarter of
April 21, 2010 11:03 AM Eastern Daylight Time
HAYWARD, Calif.--(EON: Enhanced Online News)--Armanino Foods of Distinction, Inc. (Pink Sheets Symbol:
AMNF) today reported record first quarter sales and record first quarter profits.
Net sales for the first quarter ended March 31, 2010, were $4,996,866 compared to $4,661,658 for the first
quarter of 2009, an increase of 7%.
Income from operations before income taxes for the first quarter of 2010 was $646,638 compared to income from
operations before income taxes of $374,170 for the same quarter a year ago, an increase of 73%.
The Company reported net income of $398,949 compared to net income of $235,744 for the comparable quarter a
year ago, an increase of 69%. Basic income per common share for the quarter ended March 31, 2010 amounted to
$0.011 as opposed to $0.007 for the same quarter a year ago.
Edmond J. Pera, President and CEO of Armanino Foods, said, “Our first quarter sales, traditionally our slowest
quarter, showed an increase of 7% over last year’s first quarter principally due to higher foodservice gains in our
core products as well as strong post-holiday retail sales.”
Pera continued, “Our record first quarter net profits, up 69%, are primarily attributable to our higher sales and to a
favorable sales product mix.”
Pera concluded, “Our recent success has in part been based on our ability to penetrate more and larger chain
accounts for our food service business. We continue to work hard to expand our product sales to chain accounts,
which because of their size, can contribute significantly to sales and profits. We now have a number of new customer
prospects that are at the end of a long selling cycle, which if closed, would allow us to continue our recent positive
Armanino Foods of Distinction, Inc. is an international food company that manufactures and markets froz