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

Pera concluded, “Overall, while we are guarded about our financial performance for the remainder of this year, we believe our current sales pipeline in the US is strong and that our efforts to establish relationships with several large domestic prospects will eventually bear fruit. Despite the increases to our promotional spending, our overall margins remain healthy due primarily to the investments in our plant over the last 3 years which has increased our operating efficiencies. We will continue to pursue investments that increase our sales and market share keeping our focus on long run performance. Our cash position remains strong and we are paying down our debt which is expected to be eliminated by the fourth quarter of 2022.”

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, Creamy Garlic, Harissa, Romesco, Chimichurri, 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, 2019 (Unaudited)
		2019		2018
Net Sales		$10,334,608		$10,692,153
Income Before Taxes		$1,725,189		$2,298,602
Net Income		$1,520,319		$1,792,909
Basic Income Per Common Share		$0.0474