Armanino Foods Reports Best Earnings for Any Quarter in Its History; Second Quarter Net Income Up 64% Over 2005; EPS for 6 Months Rises From a Penny to 3 Cents.HAYWARD Hayward, city (1990 pop. 111,498), Alameda co., W Calif.; settled 1851, inc. 1876. It is an important commercial and distribution center for farm products. Manufactures include wire, plastics, metal and paper products, textiles, machinery, and motor vehicles. , Calif. -- Armanino Foods of Distinction, Inc. (Pink Sheets:AMNF AMNF Address Mark Not Found (hard drive error) ) today reported the most profitable quarter in its history with net income for the second quarter of 2006 up 64 percent over the same quarter a year ago. Building on a strong first quarter, this translated through the first six months of the year to a 123 percent gain over 2005. "Last year, we invested heavily in building our sales force," said William William, crown prince of Germany William or Frederick William, 1882–1951, crown prince of Germany, son of William II. In World War I he commanded (1914) an army on the Western Front and was nominal commander in the German attack 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. . "Now we're we're Contraction of we are. we're we are seeing the return on that investment, with profit gains in every segment of our business." "In addition," he added, "we offered a number of promotions to our food service customers and their favorable fa·vor·a·ble adj. 1. Advantageous; helpful: favorable winds. 2. Encouraging; propitious: a favorable diagnosis. 3. response to this boosted that sector's sales." For the three months ending June June: see month. 30th, 2006, sales rose 21 percent from $3,622,038 last year to $4,378,386. For the same period, net income rose 64 percent from $202,897 in 2005 to $332,467 this year. Earnings per fully diluted di·lute tr.v. di·lut·ed, di·lut·ing, di·lutes 1. To make thinner or less concentrated by adding a liquid such as water. 2. To lessen the force, strength, purity, or brilliance of, especially by admixture. share were 2 cents this year, versus a penny in 2005. For the first six months of 2006, sales rose 20 percent from $6,751,305 to $8,110,403. Net income was up 123 percent, from $225,906 to $504,823. Fully diluted EPS (Encapsulated PostScript) A PostScript file format used to transfer a graphic image between applications and platforms. EPS files contain PostScript code as well as an optional preview image in TIFF, WMF, PICT or EPSI, the latter being an ASCII-only format. rose from a penny in 2005 to 3 cents this year. Mr. Armanino said net income rose more sharply than sales because of improved profit margins and favorable tax treatments. In May, Armanino Foods announced its products are now available to shoppers in 1,000 Albertson's supermarkets in Western states. "It's still too early to tell what impact being in the Albertson's market will have on our performance, but we are confident it will help us continue our growth pattern," Mr. Armanino said. He noted that during the spring, Armanino Foods was also able to increase the range of products it offered in 240 Safeway stores in Northern California Northern California, sometimes referred to as NorCal, is the northern portion of the U.S. state of California. The region contains the San Francisco Bay Area, the state capital, Sacramento; as well as the substantial natural beauty of the redwood forests, the northern , where the Company previously offered only a limited number of products, but the full impact of that has likewise yet to be felt. "We're encouraged," he continued, "by the fact that our sales growth is coming from both sides of our business -- retail sales to shoppers and food service sales to restaurants and institutions." Armanino is an international food company that manufactures and markets frozen Basil pesto sauce and numerous other sauces such as Cilantro, Dried Tomato Garlic garlic: see onion. garlic Bulbous perennial plant (Allium sativum) of the lily family, native to central Asia and growing wild in Italy and southern France. The bulbs are used as a flavouring. , Roasted roast v. roast·ed, roast·ing, roasts v.tr. 1. To cook with dry heat, as in an oven or near hot coals. 2. To dry, brown, or parch by exposing to heat. 3. 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 , 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 and organic sauces, filled pasta While the only basic difference between these names is the shape of the pasta, each pasta is typically matched with a particular sauce based on cooking time, consistency, ability to hold sauce, ease of eating, etc. products, meatballs, cooked poultry poultry, domesticated fowl kept primarily for meat and eggs; including birds of the order Galliformes, e.g., the chicken, turkey, guinea fowl, pheasant, quail, and peacock; and natatorial (swimming) birds, e.g., the duck and goose. products, garlic spreads and Focaccia to the food service, industrial, institutional industry.
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Armanino Foods of Distinction, Inc.
Results For The Second Quarter Ended June 30, 2006 (Unaudited)
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2006 2005
---------------------------------------------- ----------- -----------
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Net Sales $4,378,386 $3,622,038
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Income From Cont. Operations Before Taxes 479,451 307,419
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Net Income 332,467 202,897
---------------------------------------------- ----------- -----------
Basic Income Per Common Share 0.02 0.01
---------------------------------------------- ----------- -----------
Weighted Average Common Shares Outstanding 17,318,190 17,357,410
---------------------------------------------- ----------- -----------
Diluted Income/(Loss) Per Common Share 0.02 0.01
---------------------------------------------- ----------- -----------
Diluted Weighted Average Common Shares
Outstanding 17,549,462 18,049,240
Note:
Shares
shown at
post 5:1
split of
Dec. 2005
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Results For The Six Months Ended June 30, 2006 (Unaudited)
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2006 2005
---------------------------------------------- ----------- -----------
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Net Sales $8,110,403 $6,751,305
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Income From Cont. Operations Before Taxes 696,428 342,282
---------------------------------------------- ----------- -----------
Net Income 504,823 225,906
---------------------------------------------- ----------- -----------
Basic Income Per Common Share 0.03 0.01
---------------------------------------------- ----------- -----------
Weighted Average Common Shares Outstanding 17,318,190 17,262,500
---------------------------------------------- ----------- -----------
Diluted Income/(Loss) Per Common Share 0.03 0.01
---------------------------------------------- ----------- -----------
Diluted Weighted Average Common Shares
Outstanding 17,632,629 17,985,265
Note:
Shares
shown at
post 5:1
split of
December
2005
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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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