Armanino Foods Posts Record Quarterly Sales and Pre-tax Earnings.HAYWARD, Calif. -- Armanino Foods of Distinction, Inc. (Pink Sheets: AMNF AMNF Address Mark Not Found (hard drive error) ) today reported the best quarter in its history for sales and pre-tax earnings. For the three months ended September 30, 2007, sales rose 17% to $4,823,548 from $4,125,947 recorded last year. Pre-tax income for the quarter was $516,269 up from $200,272 for the same quarter a year ago, an increase of 158%. Quarterly earnings per share for the third quarter were two cents this year compared to one cent last year. For the nine months ended September 30, 2007, sales are 12% above the same period for 2006, rising to $13,649,375 from $12,236,351. Pre-tax earnings for 2007's 9 month period reached $1,050,445 compared to $896,700 a year ago, an increase of 17%. William Armanino, the Company's Chairman 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. , said, "We are extremely pleased with our sales and earnings growth. The increased experience and knowledge of our sales force and broker and distributor networks have allowed us to make significant inroads inroads Noun, pl make inroads into to start affecting or reducing: my gambling has made great inroads into my savings inroads npl to make inroads into [+ into finding new accounts. Our increased focus on food service chains has resulted in converting many of them to Armanino products. Based on preliminary indications, we are optimistic op·ti·mist n. 1. One who usually expects a favorable outcome. 2. A believer in philosophical optimism. op that the fourth quarter will also show positive sales and profit results." Armanino concluded, "To increase our Company's transparency to our shareholders and investor communication, we have expanded our financial reporting to give greater insight into our financial statements. This information can be found on our website, "armaninofoods.com" as well as at "www.pinksheets.com." Armanino is an international food company that manufactures and markets frozen basil pesto and numerous other pestos and sauces such as Cilantro, Dried Tomato Garlic, Roasted Red Bell Pepper, Southwest Chipotle chi·pot·le n. A ripe jalapeño pepper that has been dried and smoked for use in cooking. [American Spanish, from Nahuatl xipotli.] Noun 1. , Artichoke artichoke, name for two different plants of the family Asteraceae (aster family), both having edible parts. The French, or globe, artichoke (Cynara scolymus , Roasted Garlic, Organic Basil, Organic Dried Tomato Garlic pesto, Mushroom mushroom, type of basidium fungus characterized by spore-bearing gills on the underside of the umbrella- or cone-shaped cap. The name toadstool is popularly reserved for inedible or poisonous mushrooms, but this classification has no scientific basis. , Alfredo sauces, filled pasta products, meatballs, cooked poultry products, garlic spreads and Focaccia to the food service, industrial, institutional industry. [TABLE OMITTED] |
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