Armanino Foods of Distinction, Inc. Reports Record Breaking Net Sales and Earnings for the Third Quarter - Seite 2

Pera concluded, “We remain cautiously optimistic about our financial performance for the remainder of this year. The Company’s current sales pipeline and its cash position are strong.”

Armanino Foods of Distinction, Inc. is an international food company that manufactures and markets frozen Italian specialty food items such as pestos, Bolognese, Alfredo sauce 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 Light Basil Pesto. Armanino’s Organic line includes classic Basil Pesto. Frozen pastas, sauces and meatballs are also offered by Armanino Foods.

Armanino Foods of Distinction, Inc. Results for Quarter Ended September 30, 2018 (Unaudited)
		2018		2017
Net Sales		$10,692,153		$10,004,933
Income from Cont. Operations Before Taxes		$2,298,602		$2,059,674
Net Income		$1,792,909		$1,318,919
Basic Income Per Common Share		$0.0559		$0.0411
Weighted Average Common Shares Outstanding		32,065,645		32,065,645
Diluted Income/(Loss) Per Common Share		$0.0559		$0.0411
Diluted Weighted Average Common Shares Outstanding		32,065,645		32,065,645
Results for Nine Months Ended September 30, 2018 (Unaudited)
		2018		2017
Net Sales		$31,572,486		$29,357,649
Income From Cont. Operations Before Taxes		$6,455,231		$5,796,215
Net Income		$5,035,080		$3,710,229
Basic Income Per Common Share		$0.1570		$0.1157
Weighted Average Common Shares Outstanding		32,065,645		32,065,645
Diluted Income/(Loss) Per Common Share		$0.1570		$0.1157
Diluted Weighted Average Common Shares Outstanding		32,065,645		32,065,645
This press release contains forward-looking statements within the meaning of U.S. securities laws, including statements regarding the Company’s goals and growth prospects. These forward looking statements are subject to certain risks and uncertainties that could cause the actual results to differ materially from those projected, including general economic conditions, fluctuations in customer demand, competitive factors such as pricing pressures on existing products, and the timing and market acceptance of new product introductions, the Company’s ability to achieve manufacturing efficiencies necessary for profitable sales at current pricing, and the risk factors listed from time-to-time in the Company’s annual and quarterly reports. The Company assumes no obligation to update the information included in this press release.