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Armanino Foods of Distinction Inc New (PK)

Armanino Foods of Distinction Inc New (PK) (AMNF)

5.49
0.02
(0.37%)
Closed July 20 4:00PM

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Key stats and details

Current Price
5.49
Bid
5.40
Ask
5.50
Volume
5,004
5.45 Day's Range 5.50
4.13 52 Week Range 6.30
Market Cap
Previous Close
5.47
Open
5.46
Last Trade
100
@
5.49
Last Trade Time
Financial Volume
$ 27,378
VWAP
5.4712
Average Volume (3m)
14,668
Shares Outstanding
32,065,645
Dividend Yield
1.86%
PE Ratio
20.10
Earnings Per Share (EPS)
0.27
Revenue
63.56M
Net Profit
8.76M

About Armanino Foods of Distinction Inc New (PK)

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 ... 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, Roasted Garlic, Light Basil Pesto, Chimichurri, Harissa, Bolognese and Alfredo sauce. Armanino's organic line includes classic Basil Pesto. Armanino Foods also offers cheese shakers, frozen pastas and meatballs. Show more

Sector
Frozen Fruit,juice,vegetable
Industry
Frozen Fruit,juice,vegetable
Headquarters
Brighton, Colorado, USA
Founded
1970
Armanino Foods of Distinction Inc New (PK) is listed in the Frozen Fruit,juice,vegetable sector of the OTCMarkets with ticker AMNF. The last closing price for Armanino Foods of Distin... (PK) was $5.47. Over the last year, Armanino Foods of Distin... (PK) shares have traded in a share price range of $ 4.13 to $ 6.30.

Armanino Foods of Distin... (PK) currently has 32,065,645 shares outstanding. The market capitalization of Armanino Foods of Distin... (PK) is $175.40 million. Armanino Foods of Distin... (PK) has a price to earnings ratio (PE ratio) of 20.10.

AMNF Latest News

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PeriodChangeChange %OpenHighLowAvg. Daily VolVWAP
10.030.5494505494515.465.55.360569025.46670108CS
40.193.584905660385.35.55.14135205.47486555CS
12-0.04-0.7233273056065.536.055.1146685.56158957CS
260.7515.82278481014.746.34.74137875.5105395CS
521.14526.35212888384.3456.34.13217504.72144628CS
1562.01557.98561151083.4756.33.15183454.01249736CS
2601.848.78048780493.696.31.75210693.38943676CS

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AMNF Discussion

View Posts
Trueheart Trueheart 2 years ago
I invested in the company years ago. Recently, in my Facebook feed an ad for the company's products showed up. The presentation looked tasty.

Trueheart.
👍️0
Thugmuffin Thugmuffin 2 years ago
$AMNF Armanino Foods of Distinction, Inc. Reports Highest Ever Quarterly Sales, and the Highest First Quarter ProfitsPress Release | 04/20/2022

Armanino Foods of Distinction, Inc. (OTC Pink: AMNF) reported its highest quarterly sales and the highest first quarter profits ever for the first quarter ending March 31, 2022. Armanino continued its streak of being profitable on a year-to-date basis for the 75th quarter in a row.

Net sales for the first quarter of 2022 were $12,430,753 compared to $9,299,670 for the same period last year, an increase of 34%. Income before taxes for Q1 2022 was $1,921,247 compared to $1,447,074 for the same quarter in 2021, an increase of 33%. Net income for this period was $1,452,463 (or $.0453 per share), compared to $1,114,247 (or $0.0347 per share) for the same quarter a year ago, an increase of 30%.

Tim Anderson, President and CEO of Armanino Foods stated, “These results represent three consecutive quarters of record net sales and the highest income for the first quarter in our Company’s history. We continue to make significant progress implementing our strategies to expand into diversified channels, and despite broader economic challenges, controlling our overall costs and expenses as well. Our strategies have allowed us to successfully navigate through a myriad of challenges, including labor shortages, inflation, and logistical and supply chain challenges which may have otherwise had a significant impact on our business. As a result, we continue to outperform many industry benchmarks.”

Anderson concluded, “While we are pleased with the continued upward trend of the Company’s financial performance, we also remain guarded in the near term given the political instability in Eastern Europe which could negatively impact broad economic sentiment, as well as concerns about a newly discovered strain of the Coronavirus. Nonetheless, we remain committed to making strategic and operational investments to drive sustained growth with an eye towards new products, new markets, and potential acquisitions. Given our financial resources, the strength of our brand, and proven track record of management excellence, we remain confident in our ability to achieve our long-term vision for the Company.”

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, Roasted Garlic, Light Basil Pesto, Chimichurri, Harissa, Bolognese, Alfredo sauce, Creamy Garlic, and Romesco. Armanino’s organic line includes classic Basil Pesto. Armanino Foods also offers cheese shakers, frozen pastas, and meatballs.

Armanino Foods of Distinction, Inc.
Results for Quarter Ended March 31, 2022 (Unaudited)












2022


2021









Net Sales


$12,430,753


$9,299,670

Income Before Taxes


$1,921,247


$1,447,074

Net Income


$1,452,463


$1,114,247

Basic/Diluted Income Per Common Share


$0.0453


$0.0347

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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220420005402/en/
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Amigo Mike Amigo Mike 2 years ago
An old friend .... continues to raise and churn out the divys ..... just needs to resume the march northward.

Amigo Mike
👍️0
AskMuncher AskMuncher 3 years ago
$AMNF Armanino Foods of Distinction, Inc. Announces Regular Quarterly Dividend
Press Release | 12/20/2021
Armanino Foods of Distinction, Inc. (OTC Pink: AMNF) announced today that its Board of Directors has declared a regular quarterly cash dividend of $0.0275 per share payable to shareholders of record on January 4, 2022. The dividend will be disbursed on or about January 24, 2022. This is the Company’s 86th consecutive quarterly dividend. In addition, the Company has had ten special dividends.

Douglas R. Nichols, Chairman of the Board, stated, “We remain confident in the Company’s management and the financial strength of Armanino Foods. The Company’s working capital is healthy, and aside from normal levels of trade payables, it is debt free. Its sales and profitability have consistently trended upward throughout 2021. As a result of the Company’s continued success, the Board of Directors is certain in its decision to declare another quarterly dividend.”

Tim Anderson, President and CEO, commented, “Material changes have taken place in the organization, which have helped us successfully weather the ongoing pandemic and economic challenges, while setting up the organization for record growth. We expect to exceed sales projections, while optimizing marketing and cost spend. In addition, despite labor shortages, inflation and logistics challenges that continue to plague our industry, Armanino is confident that sales will achieve record levels for the year.”

Anderson continued, “Given our financial resources, and the strength of our brand we remain committed to making investments to reposition the Company for recovery and sustained future growth with an eye towards new products, new markets, and potential acquisitions.”

Armanino Foods of Distinction, Inc. is an international food company that manufactures, and markets frozen Italian specialty food items to the foodservice, retail, and industrial markets. In addition to a classic Basil Pesto, Armanino offers other flavors and sauces including as Cilantro, Dried Tomato & Garlic, Roasted Red Bell Pepper, Southwest Chipotle, Artichoke, Roasted Garlic, Light Basil Pesto, Chimichurri, Harissa, Bolognese, and Alfredo. Armanino’s organic line includes classic Basil Pesto. Finally, Armanino Foods also offers cheese shakers, frozen pastas, and meatballs.

The best source of information on the company is the OTC Markets website (http://www.otcmarkets.com/stock/AMNF/company-info).


View source version on businesswire.com: https://www.businesswire.com/news/home/20211219005149/en/
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AskMuncher AskMuncher 3 years ago
$AMNF Armanino Foods of Distinction, Inc., Reports Highest Quarterly Sales Ever, and Record-Breaking Year to Date Net Sales for the Third Quarter
Press Release | 10/25/2021
Armanino Foods of Distinction, Inc. (OTC Pink: AMNF) reported its highest quarterly sales ever and record-breaking net sales for the third quarter year to date ending September 30, 2021. Third quarter earnings continued its upward trend of quarter over quarter growth since the beginning of the pandemic. The Company continued its streak of being profitable on a year-to-date basis for 73 quarters in a row.

Net sales for the third quarter of 2021 were $11,857,707 compared to $8,321,414 for the same period last year, an increase of 42%. Income before taxes for Q3 2021 was $2,006,080 compared to $904,267 for the same quarter in 2020, an increase of 122%. Net income for this period was $1,498,542 (or $0.0467 per share), compared to $723,356 (or $0.0226 per share) for the same quarter a year ago, an increase of 107%.

Net sales for the first nine months of 2021 were $31,899,352 compared to $23,217,858 for the same period in 2020, an increase of 37%. Income before taxes for the nine months ending September 30th of this year was $5,177,909, compared to the 2020 figure of $1,391,299, an increase of 272%. Net income for this period was $3,933,953 (or $0.1227 per share), compared to $1,112,982 (or $0.0347 per share) for the same period a year ago, an increase of 254%.

Tim Anderson, President and CEO of Armanino Foods, stated, “We are pleased to report record sales for the quarter and year to date as we continue to outpace economic trends in our sector. In fact, the company’s sales and profits continue to trend upward as the development and implementation of our transformative strategy has set up Armanino Foods for growth and profitability for the long-term.”

Anderson continued, “While the effects of the Delta variant and inflationary pressure continue to have us somewhat guarded in the near term, the Company continues to experience consistent growth in sales and profits. We have also made necessary adjustments in our operating model to support and grow our margins as we continue to navigate through the current economic challenges.”

Anderson concluded, “We are confident in our direction and believe that we will continue to effectively manage through these uncertain times. Given our financial resources, the strength of our brand, and proven track record of management excellence, Armanino Foods remains committed towards making investments to reposition the Company for recovery and sustained future growth with an eye towards new products, new markets, and potential acquisitions.”

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, Roasted Garlic, Light Basil Pesto, Chimichurri, Harissa, Bolognese, Alfredo sauce, Creamy Garlic, and Romesco. Armanino’s organic line includes classic Basil Pesto. Armanino Foods also offers cheese shakers, frozen pastas, and meatballs.

Armanino Foods of Distinction, Inc.

Results for Quarter Ended September 30, 2021 (Unaudited)









2021

2020







Net Sales

$11,857,707

$8,321,414

Income Before Taxes

$2,006,080

$904,267

Net Income

$1,498,542

$723,356

Basic Income Per Common Share

$0.0467

$0.0226

Weighted Average Common Shares Outstanding

32,065,645

32,065,645

Diluted Income/(Loss) Per Common Share

$0.0467

$0.0226

Diluted Weighted Average Common Shares Outstanding

32,065,645

32,065,645







Results for Nine Months Ended September 30, 2021 (Unaudited)









2021

2020

Net Sales

$31,899,352

$23,217,858

Income Before Taxes

$5,177,909

$1,391,299

Net Income

$3,933,953

$1,112,982

Basic Income Per Common Share

$0.1227

$0.0347

Weighted Average Common Shares Outstanding

32,065,645

32,065,645

Diluted Income/(Loss) Per Common Share

$0.1227

$0.0347

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.


View source version on businesswire.com: https://www.businesswire.com/news/home/20211025005298/en/
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AskMuncher AskMuncher 3 years ago
$AMNF Armanino Foods of Distinction, Inc., Reports Net Sales and Earnings for the Second Quarter
Press Release | 07/26/2021
Armanino Foods of Distinction, Inc. (OTC Pink: AMNF) reported an increase in its net sales and net income before and after taxes for the second quarter ending June 30, 2021 relative to the same timeframe in 2020.

Net sales for the second quarter ending June 30, 2021 were $10,741,975, compared to $5,135,598 for the second quarter of 2020, an increase of 109%. Income/ before taxes for the second quarter of 2021 was $1,724,756, compared to <$894,853> for the comparable quarter a year ago, an increase of 293%. Net income/ for this period increased to $1,321,163, or $0.0412 per share, from <$715,883>, or <$0.0223> per share for the previous year, an increase of 285%.

Net sales for the first six months of 2021 were $20,041,645 compared to $14,896,444 for the same period last year, an increase of 35%. Income before taxes in this period for 2021 was $3,171,830, compared to the 2020 amount of $487,032, an increase of 551%. Net income for the first six months of 2021 was $2,435,411, or $0.0760 per share, compared to $389,626, or $0.0122 per share posted for the same period in 2020, an increase of 525%.

Tim Anderson, President and CEO of Armanino Foods said, “Sales and profits continue to improve since the beginning of the pandemic driven by the opening of the economy and progress in executing against our key growth strategies. Quarter over quarter results continue to improve representing progress over the last four quarters since Q2 2020. In addition, we continue to control our overall costs, particularly related to COGS and promotional expenses. Another key highlight is that our Q2 2021 Net Sales results were near historical highs achieved in Q2 2019.”

Anderson continued, “Although we remain somewhat guarded on the future outlook in light of a recent uptick in infection rates related to the Delta variant of the COVID-19 virus, we are confident in our direction and believe we can effectively manage through these uncertain times. We will continue to make investments to reposition the Company for recovery and sustained future growth with an eye towards new products, new markets, and potential acquisitions. Given our financial resources, the strength of our brand, and proven track record of management excellence, we remain confident in our ability to achieve our long-term vision for the Company.”

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 June 30, 2021 (Unaudited)




2021


2020

Net Sales

$10,741,975


$5,135,598

Income/ Before Taxes

$1,724,756


<$894,853>

Net Income/

$1,321,163


<$715,883>

Basic/Diluted Income/ Per Common Share

$0.0412


<$0.0223>

Weighted Average Common Shares Outstanding

32,065,645


32,065,645








Armanino Foods of Distinction, Inc.
Results for Six Months Ending June 30, 2021 (Unaudited)




2021


2020

Net Sales

$20,041,645


$14,896,444

Income Before Taxes

$3,171,830


$487,032

Net Income

$2,435,411


$389,626

Basic/Diluted Income/ Per Common Share

$0.0760


$0.0122

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.

The best source of information on the company is the OTC Markets website http://www.otcmarkets.com/stock/amnf/company-info, or the Company website http://www.armaninofoods.c
👍️0
AskMuncher AskMuncher 3 years ago
$AMNF Herborium To Develop Proprietary Protein Bar with Unique Skin Benefits and Weight Management Properties
Press Release | 06/28/2021
Houston, June 28, 2021 (GLOBE NEWSWIRE) -- Houston, Texas , June 28, 2021 Herborium Group, Inc. (OTC Pink: HBRM), a Botanical Therapeutics Company and the provider of unique, all botanical medicinal products with a strong records of efficacy and safety, (Botanical Therapeutics®) announced today that it will be launching its new, proprietary protein derma - bar that combines the benefits of clear, healthy and youthful skin with healthy weight management, in the 4th Quarter of 2021. . The bar that comes in different flavors to satisfy diversified consumers pallet is targeting a rapidly growing population of protein bar favoring consumers in particular and functional foods customers at large. The target distributors such as Whole Foods, TraderJoe, Walmart and Target will be canvased to distribute this highly competitive product. There is no protein bar on the market that also targets skin health.
“Fortune Business Insights” says that the global protein bar market size is expected to reach USD 7.03 billion globally by 2027 with the US market alone achieving over $3 Billion. In addition, the uniqueness of Herborium’s Derma-Bar is based on the fact that it also belongs to the category of “beauty positioned supplements” that grew 61% in sales in USA in the past year. This represent the largest growth among countries with the top seven highest sales in the category. The US posted $144 million in sales of beauty supplements in 2020 compared to $89 million the previous year and made it to the top five countries for sales, overcoming Germany and France which have had stronger sales than the US in the past few years. The fact that the Herborium bar belongs to two not just one fast growing categories of products provides an additional factor positively shaping revenues expectations for Herborium.
Herborium’s CEO Dr. Agnes Olszewski noted, “We are very happy to introduce our new proprietary addition to Herborium product portfolio. We expect this new product to generate significant revenues and improve Herborium’s recognition as a prominent natural health and wellness expert. While awaiting the final manufacturing to be completed we are going to continue with our content development to support our present star product AcnEase for all types of skin blemishes and acne, oily skin and symptoms of rosacea, our adjunct skincare stem cell products family and of course our new product addition.”

“Herborium is clearly becoming a destination point for natural skin health and wellness. Adding this new product to our product portfolio represents next step in solidifying this position. Herborium’s Derma-Bar should stand as a beacon of quality and science in this sector as it was developed in collaboration with medical professionals and herbalist a like.” Concluded Dr. Olszewski.

About Herborium Group, Inc.
Herborium Group, Inc., a botanical therapeutics company that develops, license and markets proprietary, botanical based medicinal products to consumers and healthcare professionals. The Company business model focuses on emerging market opportunities spearheaded by the growth of a new market sector located between high-cost, high-risk, ethical pharmaceuticals and commoditized classic nutraceuticals (supplements). The Company uses clinical validation and a proactive regulatory strategy based on the FDA Guidance for Industry: Botanical Drug Products to establish and maintain a differential advantage. Herborium has secured a pipeline of botanical ingredients based products in the areas of dermatological needs, wellness and energy, women’s health and selected sexual disorders and has built the versatile, technologically advanced, interactive content platform to support consumer needs. Herborium Group sells its products in the United States, the United Kingdom, and continental Europe through a network of distributors, specialty retailers, and e-commerce. For more information, please visit www.herborium.com, www.acnease.com, www.acnease.fr and www.acneasesp.com

Safe Harbor Statement: This release contains forward-looking statements with respect to the results of operations and business of Herborium Group, Inc., which involves risks and uncertainties. The Company's actual future results could materially differ from those discussed. The Company intends that such statements about the Company's future expectations, including future revenues and earnings, and all other forward looking statements be subject to the "Safe Harbors" provision of the Private Securities Litigation Reform Act of 1995.


Herborium Group, Inc. CustomerService@Herborium.com ; Investorrelations@Herborium.com
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AskMuncher AskMuncher 3 years ago
$AMNF Armanino Foods of Distinction, Inc. Reports First Quarter Sales and Profits; Earnings Grow Above Prepandemic Levels
Press Release | 04/23/2021
Armanino Foods of Distinction, Inc. (OTC Pink: AMNF) reported a year over year 1% increase in earnings with a 4.7% decrease in net sales for the first quarter ending March 31, 2021. In addition, the Company generated growth in income before taxes and net income which exceeded the previous 4 quarters. It is also notable that Armanino continues the streak of being profitable on a year-to-date basis for the 71st quarter in a row.

Net sales for the first quarter of 2021 were $9,299,670 compared to $9,760,846 for the same period last year, a decrease of 4.7%. Income before taxes for Q1 2021 was $1,447,074 compared to $1,381,886 for the same quarter in 2020, an increase of 5.0%. Net income for this period was $1,114,247 (or $0.0347 per share), compared to $1,105,508 (or $0.0345 per share) for the same quarter a year ago, an increase of 1.0%.

Tim Anderson, President and CEO of Armanino Foods stated, “We are on track with our plans to position the Company for recovery from the impact of COVID-19, while also continuing to strategically invest in diversified channels to capitalize on growth trends. Our success on those fronts is demonstrated by our recent three quarter results of consecutive growth in sales and profits with profits exceeding pre-COVID levels this past quarter. This growth was largely attributable to our ability to control our overall costs and expenses across the entire company including promotions, COGS, G&A and Operations. Sales growth was primarily driven by the easing of COVID restrictions and return to food eaten away from home. But it was also due to customers increasing their inventory levels in anticipation of greater future sales.

Anderson continued, “We are currently trending significantly higher than prior year April sales and 2021 January sales so we are hopeful that our results will continue to improve. This gives us confidence that we continue to be on track with our plans to position the Company for recovery from the impact of COVID-19.”

Anderson concluded, “We are increasingly optimistic that the worst of the COVID-19 effects are behind us now that COVID vaccinations are now available to all adults in the US, and as many state and local governments continue to lift pandemic restrictions. As a result, we remain committed to making strategic and operational investments to drive sustained growth with an eye towards new products, new markets, and potential acquisitions. Given our financial resources, the strength of our brand, and proven track record of management excellence, we remain confident in our ability to achieve our long-term vision for the Company.

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, Roasted Garlic, Light Basil Pesto, Chimichurri, Harissa, Bolognese, Alfredo sauce, Creamy Garlic, and Romesco. Armanino’s organic line includes classic Basil Pesto. Armanino Foods also offers cheese shakers, frozen pastas, and meatballs.

Armanino Foods of Distinction, Inc.

Results for Quarter Ended March 31, 2021 (Unaudited)









2021

2020







Net Sales

$9,299,670

$9,760,846

Income Before Taxes

$1,447,074

$1,381,886

Net Income

$1,114,247

$1,105,508

Basic/Diluted Income Per Common Share

$0.0347

$0.0345

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.




View source version on businesswire.com: https://www.businesswire.com/news/home/20210423005148/en/
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A Dinosaur A Dinosaur 3 years ago
I've bee ready for about 10 years. What makes you think it's going to happen now?

Dino
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aftt36 aftt36 3 years ago
Is everyone ready for 5.00
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aftt36 aftt36 3 years ago
This hidden Gem is about to break out!!!
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georgie18 georgie18 3 years ago
AMNF...$2.73...Looking for an Upper Channel Breakout to the $3.64 plus range for a Blue Skies Breakout...

Break/Hold $3.64 range and there is NO Topside Resistance on the Blue Skies Chart...imo...we shall see...

Chart...https://schrts.co/zFhGEpBH ...

Armanino Foods of Distinction, Inc. (OTC Pink: AMNF) today announced that its board of directors has declared a regular quarterly cash dividend of $0.0225 per share representing an increase of approximately 29% from its most recent three quarterly dividends. The dividend will be payable to shareholders of record on April 6, 2021 and will be disbursed on or about April 28, 2021. This is the Company’s 83rd consecutive quarterly dividend. In addition, the Company has had ten special dividends...

Authorized Shares
40,000,000
03/25/2021
Outstanding Shares
32,065,645
03/25/2021
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Amigo Mike Amigo Mike 3 years ago
Tough year for AMNF in 2020 as with many companies. Still remains strong though.

Future growth will be interesting to see.
Amigo Mike
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Golden Cross Golden Cross 4 years ago
AMNF back to Pink Current
https://www.otcmarkets.com/stock/AMNF




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AskMuncher AskMuncher 4 years ago
$AMNF Retail Industry Veteran Jim Gillis Joins Armanino Foods of Distinction, Inc. Board of Directors to Build Market Presence
Press Release | 11/09/2020
Armanino Foods of Distinction, Inc. (OTC Pink: AMNF) today announced Jim Gillis is joining the company’s board of directors effective immediately. Gillis is a President and CEO of Gillis & Associates, a corporate and equity fund advisory firm in the consumer packaged goods industry, and brings more than 40 years of experience to the board.

“We are thrilled to welcome an executive with Jim’s expertise and business network to our board. He will not only provide a vision for the direction of Armanino Foods, his connections will help make that vision a reality and help us dramatically broaden our horizons,” said Tim Anderson, President and CEO of Armanino Foods.

Gillis, who sits on several corporate boards, was previously Managing Partner of Burke • Gillis • Juliano Group (BGJ), a leading management consulting firm focused on delivering solutions to the retail value chain. He retired as President and CEO of Source Interlink Companies, a premier marketing, merchandising and fulfillment company of entertainment products, after increasing revenues from $38 million to $2.5 billion. Gillis was also President, CEO and Owner of Brand Manufacturing Corporation, a leading designer and manufacturer of retail display systems, and Managing Partner of Aders, Wilcox, Gillis Group, a global developer of trade relationships serving major brand marketers and retailers worldwide.

“Armanino Foods has an amazing variety of high-quality products, a strong leadership team, a great workforce and excellent production facilities. I look forward to working with Tim and the rest of the board to help the company realize its full potential,” said Gillis.

About Armanino Foods of Distinction

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, Roasted Garlic, Light Basil Pesto, Chimichurri, Harissa, Bolognese, Alfredo sauce, Creamy Garlic, and Romesco. Armanino’s organic line includes classic Basil Pesto. Armanino Foods also offers cheese shakers, frozen pastas, and meatballs.


View source version on businesswire.com: https://www.businesswire.com/news/home/20201109005628/e
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sagedono sagedono 4 years ago
Haven't been back in this gem since 2016. Been building a position over the last couple weeks. Looks like the right time again. sagedono
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AskMuncher AskMuncher 4 years ago
$AMNF Armanino Foods of Distinction, Inc. Reports Net Sales and Earnings for the Third Quarter Reversing Second Quarter Loss
Press Release | 10/19/2020
Armanino Foods of Distinction, Inc. (OTC Pink: AMNF) reported a year over year decrease in its net sales and net income for the third quarter ending September 30, 2020, but relative improvement across several metrics. Third quarter earnings eclipsed the second quarter loss, enabling the Company to continue its streak of being profitable on a year to date basis for 69 quarters in a row.

Net sales for the third quarter of 2020 were $8,321,414 compared to $10,334,608 for the same period last year, a decrease of 19%. Income before taxes for Q3 2020 was $904,267 compared to $1,725,189 for the same quarter in 2019, a decrease of 48%. Net income for this period was $723,356 (or $0.0226 per share), compared to $1,520,319 (or $0.0474 per share) for the same quarter a year ago, a decrease of 52%.

Net sales for the first nine months of 2020 were $23,217,858 compared to $31,622,142 for the same period in 2019, a decrease of 27%. Income before taxes for the nine months ending September 30th of this year was $1,391,299, compared to the 2019 figure of $6,385,665, a decrease of 78%. Net income for this period was $1,112,982 (or $0.0347 per share), compared to $5,062,192 (or $0.1579 per share) for the same period a year ago, a decrease of 78%.

Tim Anderson, President and CEO of Armanino Foods stated, “We are pleased our profits for this third quarter reversed the losses we incurred last quarter and that we remain profitable on a year to date basis. Specifically, this quarter’s net income of $723,356 more than made up for the <$715,883> net loss we incurred last quarter. Since the height of the pandemic in April 2020, the Company experienced consistent growth in sales and profits ending the second quarter with net income starting in June 2020. This growth trend continued into the third quarter where we ended with a surge in sales at the end of the quarter which prompted us to increase production to meet the higher demand.”

Anderson continued, “Our efforts to reposition the Company for recovery from the current economic environment for sustained future growth is working as illustrated by the consistent increase in sales, positive reversal of margins and continued cost reductions across all functions within the Company. Given our financial resources, the strength of our brand, and proven track record of management excellence, we have confidence in our ability to achieve our long-term vision for the Company despite the current economic environment.”

Anderson concluded, “While we are hopeful that the worst of the COVID 19 effects are behind, current market conditions and near-term demand growth are uncertain, so we remain guarded with our financial outlook for the remainder of the year.”

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, Roasted Garlic, Light Basil Pesto, Chimichurri, Harissa, Bolognese, Alfredo sauce, Creamy Garlic, and Romesco. Armanino’s organic line includes classic Basil Pesto. Armanino Foods also offers cheese shakers, frozen pastas, and meatballs.

Armanino Foods of Distinction, Inc.

Results for Quarter Ended September 30, 2020 (Unaudited)









2020



2019









Net Sales

$8,321,414



$10,334,608

Income Before Taxes

$904,267



$1,725,189

Net Income

$723,356



$1,520,319

Basic Income Per Common Share

$0.0226



$0.0474

Weighted Average Common Shares Outstanding

32,065,645



32,065,645

Diluted Income/(Loss) Per Common Share

$0.0226



$0.0474

Diluted Weighted Average Common Shares Outstanding

32,065,645



32,065,645







Results for Nine Months Ended September 30, 2020 (Unaudited)









2020



2019

Net Sales

$23,217,858



$31,622,142

Income Before Taxes

$1,391,299



$6,385,665

Net Income

$1,112,982



$5,062,192

Basic Income Per Common Share

$0.0347



$0.1579

Weighted Average Common Shares Outstanding

32,065,645



32,065,645

Diluted Income/(Loss) Per Common Share

$0.0347



$0.1579

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.
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AskMuncher AskMuncher 4 years ago
$AMNF Armanino Foods of Distinction, Inc. Declares a Regular Quarterly Dividend Of $0.0175
Press Release | 09/21/2020
Armanino Foods of Distinction, Inc. (OTC Pink: AMNF) today announced that its board of directors has declared a quarterly cash dividend of $0.0175 per share. The dividend will be payable to shareholders of record on October 1, 2020 and will be disbursed on or about October 26, 2020. This is the Company’s 81st consecutive quarterly dividend. In addition, the Company has had ten special dividends.

Douglas R. Nichols, Chairman of the board stated, “Armanino Foods is pleased that we are able to continue our proud tradition of rewarding our shareholders with another quarterly dividend as we are confident that the worst of the COVID 19 effects are behind us and our current positive financial results will continue. Similar to what we did in the prior quarter, rather than resume paying our dividend at our previous rate of $0.0275 per share, we will pay down our line of credit with the $320,000 in savings from the dividend reduction.”

Tim Anderson, President and CEO commented, “Starting in June 2020, the Company has achieved a consistent month over month growth in our sales and profitability. We expect this trend to continue through the end of the third quarter ending September 30, 2020. A surge in sales orders this month have prompted us to increase production to fulfill the demand. With the increase in sales and along with it margins, as well as multiple cost cutting measures, we have enough working capital to continue to fund our operations, while at the same time embarking upon a series of growth initiatives beyond our current business model. We are confident that given our financial resources, the strength of our brand, and our proven track record of management excellence, that we will be successful in executing these initiatives. However, we remain guarded in providing guidance on our financial outlook for the remainder of this year due to unprecedented uncertainty regarding the COVID 19 pandemic.”

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, Roasted Garlic, Light Basil Pesto, Chimichurri, Harissa, Bolognese, Alfredo sauce, Creamy Garlic, and Romesco. Armanino’s organic line includes classic Basil Pesto. Armanino Foods also offers cheese shakers, frozen pastas, and meatballs.

The best source of information on the company is the OTC Markets website (http://www.otcmarkets.com/stock/AMNF/company-info).


View source version on businesswire.com: https://www.businesswire.com/news/home/20200921005252/en/
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AskMuncher AskMuncher 4 years ago
$AMNF OTC DISCLOSURE & NEWS SERVICE
Armanino Foods of Distinction, Inc. Declares a Regular Quarterly Dividend Of $0.0175
Press Release | 06/19/2020
Armanino Foods of Distinction, Inc. (OTC Pink: AMNF) today announced that its board of directors have declared a quarterly cash dividend of $0.0175 per share. This level is a decrease of approximately 36% from the prior regular quarterly dividend amount of $0.0275. The dividend will be payable to shareholders of record on July 1, 2020 and will be disbursed on or about July 24, 2020. This is the Company’s 80th consecutive quarterly dividend. In addition, the Company has had ten special dividends.

Douglas R. Nichols, Chairman of the board stated, “As previously disclosed, we expect to report a loss for our second quarter ending June 30, 2020; however, thanks to the strength of our balance sheet, Armanino Foods will continue our proud tradition of rewarding our shareholders with a quarterly dividend payment despite the adverse effect that the COVID 19 pandemic has had on our business in Q2. Because we are seeing sales continue to improve and have implemented many cost savings measures since the beginning of the pandemic, we are comfortable with paying a reduced dividend, and are confident of our financial position even if a second wave of the virus emerges. The $320,000 savings from the dividend reduction will be utilized to payoff an equipment loan with a balance that closely approximates the dividend savings. That loan was otherwise scheduled to mature at the end of 2022. This strategy, coupled with our cost reductions across all functions, enables us to reinvest in our core business and strategic growth initiatives. Due to unprecedented uncertainty regarding the COVID 19 pandemic, we remain guarded on the outlook of our financial performance for the remainder of this year. It is the board’s intention to reinstate the dividend to $0.0275 per share as soon as business conditions return to historic levels.”

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, Roasted Garlic, Light Basil Pesto, Chimichurri, Harissa, Bolognese, Alfredo sauce, Creamy Garlic, and Romesco. Armanino’s organic line includes classic Basil Pesto. Armanino Foods also offers cheese shakers, frozen pastas, and meatballs.
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Golden Cross Golden Cross 4 years ago
AMNF Now pink current
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A Dinosaur A Dinosaur 4 years ago
Any idea why they're dumping on Armanino? Good earnings, increased the dividend 10% last quarter... What's not to like?

Is locating in California the problem?

Dino
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Amigo Mike Amigo Mike 5 years ago
Have owned this for years.

Steady as a rock.

Amigo Mike
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whytestocks whytestocks 5 years ago
News: $AMNF Armanino Foods of Distinction, Inc., Reports Highest Quarterly Net Sales and Earnings in Its History

Armanino Foods of Distinction, Inc. (OTC Pink: AMNF) today reported its highest quarterly net sales and earnings ever, as well as record breaking sales and earnings for the six month period ending June 30, 2019. Net sales for the second quarter ended June 30, 2019 were $11,518,343 compare...

Find out more Armanino Foods of Distinction, Inc., Reports Highest Quarterly Net Sales and Earnings in Its History
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31set 31set 6 years ago
As Amigo Mike predicted in July, AMNF reported a 3Q 2018 somewhat softer than the company's all time record breaking performance in Q2 2018. Q2 may have been helped in part by customers stocking up on product prior to AMNF raising prices, causing a bit of a subsequent letdown in Q3.

Nevertheless, Q3 2018 was still the company's second best quarter ever. Sales were up 7% and operating income before taxes was up 12% over Q3 2017. Q3 net operating income after taxes was up a stellar 36% YoY, no doubt helped along by the reduction in federal corporate income tax rates that became effective in 2018.

Overall, Q3 2018 was another very solid quarter for AMNF. The company continues to invest in efforts to expand production capacity and efficiency, some of which should be in place near the end of this year or soon after. New products are being developed and digital marketing efforts are being improved. Management reports that the company continues to enjoy a very strong cash position.

Still wish AMNF would find a way to broaden geographical product distribution. As far as I know, AMNF's products remain unavailable in my region. Very happy with the performance of AMNF's stock, though! Looking look forward to collecting another nice dividend on October 26th.
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Amigo Mike Amigo Mike 6 years ago
AMNF MGMT just keeps delivering ! Another solid quarter.

Amigo Mike
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Amigo Mike Amigo Mike 6 years ago
I’ve been in AMNF for several years. Been in since below .50. Mgmt continues to deliver year after year and cant beat the divvy the company continues to pay out. Wouldn’t shock me to see another specialty divvy this year ... or higher increases to the regular divvy.

I do think that we’ve seen qtrly increases in revenue just before a price hike before so I’d expect a softer 3rd qtr. But all in all, continues to deliver.

Amigo Mike
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31set 31set 6 years ago
AMNF turns in a smashing 2Q 2018! Sales up 12%, income before taxes up 24%, and net income up 51%. All these increases are versus 2Q 2017, which until now was the company's best quarter ever for both sales and income.

The huge increase in net income was significantly driven by the reduction in the federal corporate tax rate which went into effect at the start of 2018.

Looking ahead, AMNF reports adequate cash on hand and a strong sales pipeline. In 1Q 2018 the company started using some of the additional cash flow resulting from the corporate tax rate reduction to invest in strategic initiatives related to product development, digital marketing, and tax planning. These investments will continue at least through the remainder of 2018.

3Q 2018 sales might be somewhat weaker due to customers ordering extra product in 2Q in advance of a price increase that took effect July 1st. AMNF mentioned rising cost pressures in their 1Q 2018 report, which I speculated at the time might mean AMNF would increase prices sometime this year.

Wish AMNF would do something about increasing the geographic availability of their product line (distribution). As far as I know, AMNF's products aren't available in the area where I live. Management seems to know what they are doing, though. Practically every quarter since I invested in AMNF some years ago now, the company has reported either record sales, income, or both. The dividend has more than doubled, too, with a nice boost almost every year.

All the hot money seems to have left the stock over the past few years. The price hasn't moved up all that much despite consistently good reports, and volume has sort of dried up. Maybe AMNF stock is now poised for better market performance? Getting hard to believe that won't be the case, if they can keep delivering quarters like this last one. I'm certainly happy with AMNF today, and intend to continue to stick around hopeful for more of the same in the future.
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31set 31set 6 years ago
Record 2018Q1 sales up 4%, but operating income was down 3%. Net income was up a strong 18% benefiting from recent tax law changes. EBITDA was up 1%. All these figures are for 2018Q1 versus 2017Q1.

These results show weakening operating performance due to some margin pressure, though overall net profits benefited in a major way from the new lower corporate tax rates. Part of the margin deterioration was due to investment in a strategic planning initiative to improve future sales and profitability. However, management also cited rising cost pressures for raw materials and packaging.

Asian market sales turned in the first strong performance in a while. Management made no mention of significant unspecified sales opportunities being entertained currently as they have sometimes done in the past. They did mention actively managing costs and margins going forward.

Overall, a solid, but not stellar Q1 for AMNF. It's possible it would have been better had bad weather in the NE USA not postponed some orders. The recent 12.5% dividend boost is a nice benefit to shareholders. Company continues to grow, maintaining a strong balance sheet and healthy order pipeline.

Rising cost pressures are a concern. We shall see how effectively they can be controlled. Expect AMNF to boost prices sometime later this year to help maintain margins.

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DrStockonomics DrStockonomics 6 years ago
Nice to get the dividend increase. A little surprised we didn't move up a little bit today
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BLUEVOODU BLUEVOODU 6 years ago
What is going on with volume and purchases right now? Barely any trading it seems.
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set_pt set_pt 6 years ago
Good wrapup set

rarely we see both ends with such percision
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31set 31set 6 years ago
AMNF smashing it again in Q4 2017! Record sales up 12%, net income from continuing operations before taxes up 15%, net income including one-time gains up 53%.

More good news to come in 2018 as well. Federal tax rate drops from 34% to 21% in 2018. New plant completed in 2017 enables push into new markets. Strong cash position enabling more promotional efforts. Domestic pipeline is strong.

Negatives? Asian markets remain weak. Management didn't mention it, but I've read recently that California might increase state corporate taxes to take about half of the recent federal corporate tax reduction away. Don't know what the status of that possibility is.
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morokko65 morokko65 7 years ago
AMNF been really doing well in last 3 months. Plant expansion done, may be poised for a great 2018.
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DrStockonomics DrStockonomics 7 years ago
Excellent Q3 report. Slow and steady here with continued growth.
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31set 31set 7 years ago
AMNF looking fine, doing good! Q3 sales up 7% over 2016 Q3. Highest quarterly earnings ever, with an increase in earnings per share of 15% over 2016 Q3. Plant expansion completed on time and within budget. Now operating out of the new facility.

A little choppy water in Asia with sales still sluggish there, other than that - smooth sailing. Our ship is coming in!
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Trueheart Trueheart 7 years ago
Thought I'd revisit, see what's happening since I sold over a year ago. Not much.

Trueheart
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DJCII DJCII 7 years ago
No one is letting me buy more shares??
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DJCII DJCII 7 years ago
I hope someone sells me 195 shares @ 2.15 today
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BLUEVOODU BLUEVOODU 7 years ago
Been in this stock awhile... plan to be in it awhile longer. A little surprised it hasn't steadily gone up more.
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31set 31set 7 years ago
Q1 2017 set records for a Q1 with sales (+1%) and profits (+3%) up over Q1 2016 despite a 2nd Q in a row of weakness in Asian markets. The plant expansion is still expected to be complete by the end of Q3 2017.

The big news was that subsequent to the end of Q1, AMNF secured business from a new and substantial US customer. This important news bodes well for the future. The company anticipates fulfilling initial orders in the next few months.

This is great news! Lack of adequate distribution has held AMNF back for a long time. With the new plant expansion being completed soon, AMNF is in a strong position to fulfill orders from this and other new customers. The company has often referred to unspecified exciting new opportunities that they have been working on in quarterly reports over the past several years. Maybe this new customer is the start of the realization of some of these possibilities? At any rate, although Q1 2107 saw only modest increases to results, the company appears poised for accelerated growth.

Hang in there, everyone. Looking like a strong finish to 2017 for AMNF to me!
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DrStockonomics DrStockonomics 7 years ago
Agreed. I don't see it dropping much. If it goes to $2.15 I will be adding more.
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31set 31set 7 years ago
Oh, I do like it! AMNF is one of the few stocks I've held onto in this increasingly overpriced market. Lots to like here. I do expect it to trade a little softer after this last mildly disappointing quarterly report, but still expect great things ahead. Furthermore, it's barely more than 2 months until AMNF will likely report Q1 2017 results in mid-April, so good news may not be that long in coming. I'm not going anywhere. Been well rewarded over time for sticking with AMNF, and look forward to more of the same.
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DrStockonomics DrStockonomics 7 years ago
Solid company with a decent dividend. What's not to like here?
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31set 31set 7 years ago
Record 2016 sales (+3%) and net income (+5%) despite a weaker Q4. Q4 2016 was down compared to Q4 2015 for both sales (-5%) and net income (-6%). Management cites notably weaker Asian sales due to a weaker economy in that part of the world as the reason. The domestic market remained strong.

The company's previously announced $3.5 million expansion plans to keep up with food safety requirements and expected sales increases are expected to be complete by the end of Q3 2017. AMNF also continues to invest in promotional efforts.

Management cites several exciting and significant opportunities they expect to close in 2017, but without giving any details.

AMNF remains financially solid. Management continues to express a cautiously optimistic outlook. 2016 was another record breaking year. Q4 2016 was another solid and profitable quarter, but not another record-breaker.
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Amigo Mike Amigo Mike 8 years ago
Armanino Foods of Distinction, Inc. Reports Highest Quarterly and Year to Date Sales and Earnings Ever
Business Wire Armanino Foods of Distinction, Inc.
10 hours ago
????
HAYWARD, Calif.--(BUSINESS WIRE)--

Armanino Foods of Distinction, Inc. (OTC Pink: AMNF) reported its highest quarterly and year to date sales and earnings ever.

Net sales for the third quarter of 2016 were $9,388,778 compared to $8,488,032 for the same period last year, an increase of 11%. Income from continuing operations before taxes for Q3 2016 were $1,822,134 compared to $1,586,641 for the same quarter in 2015, an increase of 15%. Earnings per share in Q3 2016 were $0.036 compared to $0.030 in Q3 2015, an increase of 20%.

Net sales for the first nine months of 2016 were $27,084,339 compared to $25,641,861 for the same period in 2015, an increase of 6%. Income from continuing operations in this period for 2016 were $5,279,123 compared to the 2015 figure of $5,021,088, an increase of 5%. Earnings per share for the nine months of 2016 amounted to $0.104 compared to the $0.096 posted in 2015, an increase of 8%.

Edmond J. Pera, President and CEO of Armanino Foods stated, “Financial performance in both our US and Asian markets was strong this quarter. We achieved higher quarterly sales with existing customers across all of our core products. As we stated in last quarter’s report, timing delays in closing several domestic deals affected sales in the Q2. Those same Q2 delayed sales were booked in Q3 and were part of the growth in our sales this quarter.”

Pera continued, “Our Board of Directors recently gave its approval for us to secure a $3.5 million credit facility to expand our manufacturing plant capacity. This project is expected to help us double our plant capacity, and increase production efficiencies. The Company also negotiated an extension of the lease on its existing plant facility. This extension carries a 5 year term beginning January 1, 2017, and contains two 5 year renewal options. Construction for the plant expansion project is scheduled to begin around the end of December 2016, and expected to be completed shortly after the end of the first quarter of 2017.”

Pera concluded, “The Company is cautiously optimistic about it financial performance for the remainder of this year. We continue to work on several significant domestic relationships that we are trying to close before year end. We remain guarded on our outlook with our Asian markets due to continued weak economic conditions in that part of the world. Our current sales pipeline and cash position remain 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, 2016 (Unaudited)

2016
2015

Net Sales $9,388,778 $8,488,032
Income from Cont. Operations Before Taxes $1,822,134 $1,586,641
Net Income $1,147,944 $972,351
Basic Income Per Common Share $0.036 $0.030
Weighted Average Common Shares Outstanding 32,065,645 32,065,645
Diluted Income/(Loss) Per Common Share $0.036 $0.030
Diluted Weighted Average Common Shares Outstanding 32,065,645 32,065,645


Results for Nine Months Ended September 30, 2016 (Unaudited)

2016
2015
Net Sales $27,084,339 $25,641,861
Income From Cont. Operations Before Taxes $5,279,123 $5,021,088
Net Income $3,325,847 $3,076,899
Basic Income Per Common Share $0.104 $0.096
Weighted Average Common Shares Outstanding 32,065,645 32,065,645
Diluted Income/(Loss) Per Common Share $0.104 $0.096
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.
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31set 31set 8 years ago
Q3 2016 sets all-time record for profits and sales! Sales up 11%, earnings up 15% YoY. $3.5M plant expansion in the works to double production capacity by early Q2 2017. Chuck declared stock guru!
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DJCII DJCII 8 years ago
I don't care about news here awesome management! Divy great growth easy to predict bounces! Perfect stock to buy,trade,hold! If I had mad cash I would buy a lot more I mean a lot!
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Amigo Mike Amigo Mike 8 years ago
Good question. I believe that mgmt provides an update with the quarterly earnings report in a couple weeks.

Amigo Mike
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DrStockonomics DrStockonomics 8 years ago
Any word on their expansion plans?
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Amigo Mike Amigo Mike 8 years ago
AMNF should post 3rd qtr results in about 2 weeks. F3Q15 was a bit weak so should have a favorable compare assuming no hiccups in the qtr.

Steady as she goes.
Amigo Mike
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