Armanino Foods of Distinction, Inc. -- Unaudited -- Consolidated Results for 1995 Fourth Quarter and Year-End.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.--(BUSINESS WIRE)--Feb. 7, 1996--Armanino Foods of Distinction, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : ARMF ARMF Advanced Reactivity Measurement Facility ) today announced its preliminary, unaudited consolidated results for the fourth quarter and year ended December December: see month. 31, 1995, which show record sales and net income for both periods. For the year ended December 31, 1995, consolidated revenue increased 29% to $13,504,429 versus $10,451,956 for 1994. Consolidated net income for 1995 grew 132% to $1,092,741 (11 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. ) as compared to $470,252 (5 cents per share) in net profit for 1994. Consolidated revenue increased 15% to $4,091,138 and consolidated net income rose 93% to $433,663 for the fourth quarter ended December 31, 1995, as compared to revenue of $3,562,933 and net income of $224,573 for the comparable quarter in 1994. The Company reported that its revenue and net profit results for both the fourth quarter and year were record-setting. 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, 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. of Armanino Foods of Distinction, Inc., said "The revenue and net income results for the year and fourth quarter were strong. I believe that given our strong balance sheet, our strong brand-name recognition, and top-quality products, we have the opportunity to improve on these results in 1996." Armanino Foods of Distinction, Inc. is a national specialty food company that markets frozen pesto 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 and meatballs to the retail, foodservice, club stores, and industrial food industries. -0- ARMANINO FOODS OF DISTINCTION, INC (NASDAQ: ARMF) (UNAUDITED) CONSOLIDATED RESULTS
Three Months
Ended
12/31/95 12/31/94 INCREASE
Revenue 4,091,138 3,562,933 15% Net Income Before income taxes 615,862 414,285 49% Net Income 433,663 224,573 93% Net Income per Share 0.04 0.02 Weighted average shares outstanding 10,089,090 10,083,538
Twelve Months
Ended
12/31/95 12/31/94
Revenue 13,504,429 10,451,956 29% Net Income before income taxes 1,714,325 810,564 111% Net Income 1,092,741 470,252 132% Net income per share 0.11 0.05 Weighted average shares outstanding 10,089,090 10,083,538 CONTACT: Armanino Foods of Distinction, Inc. William Armanino, 510/441-9300 (President & CEO) |
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