Armanino Foods Declares Regular Dividend for 3rd Quarter of 2006.HAYWARD, Calif. -- The directors of Armanino Foods of Distinction, Inc. (Pink Sheets:AMNF AMNF Address Mark Not Found (hard drive error) ) have declared the regular quarterly dividend of 1.25 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. for the third quarter of 2006. It will be payable on or about October 27, 2006 to shareholders of record as of October 12, 2006. "This is the 25th consecutive quarterly dividend we will have paid to our shareholders since June of 2000 without skipping a beat," said William Armanino, the company's president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "We're able to reward our shareholders for their confidence in the company not just because of our continued strong sales and earnings performance, but also because of our strong balance sheet." In July, the company reported the strongest six month sales in its history, with fully diluted earnings per share diluted earnings per share An earnings measure calculated by dividing net income less preferred stock dividends for a period by the average number of shares of common stock that would be outstanding if all convertible securities were converted into shares of for the first half of the year of 3 cents, triple the equivalent figure reported for the same period in 2005. "We have approximately $1,600,000 in cash and equivalents and no long-term debt Long-Term Debt Loans and financial obligations lasting over one year. Notes: For example debts obligations such as bonds and notes which have maturities greater than one year would be considered long-term debt. on our balance sheet," he continued. "This has enabled us to ramp up Ramp Up To increase a company's operations in anticipation of increased demand. Notes: A company might 'ramp up' operations if they just signed a contract creating substantially more demand for their product. See also: Demand, Economies of Scale our production and make further investments in our sales and marketing staffs without borrowing." Armanino is an international food company that manufactures and markets frozen basil pesto sauce and numerous other sauces such as Cilantro, Dried Tomato Garlic, Roasted Red Bell Pepper, Southwest Chipotle, Artichoke artichoke, name for two different plants of the family Asteraceae (aster family), both having edible parts. The French, or globe, artichoke (Cynara scolymus , Mushroom, Alfredo and organic sauces, filled pasta products, meatballs, cooked poultry products, garlic spreads and Focaccia to the food service, industrial, institutional industry. Armanino Foods is listed under the stock symbol AMNF.PK This press release contains forward-looking statements within the meaning of U.S. securities laws. These forward looking statements are subject to certain risks and uncertainties that could cause the actual results to differ materially from those projected. The Company assumes no obligation to update the information included in this press release. |
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