Armanino Foods of Distinction, Inc. Board Approves Plan to Buy Back 396,000 Shares of Common Stock.HAYWARD, Calif.--(BUSINESS WIRE)--Dec. 30, 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 National Market Symbol: "ARMF ARMF Advanced Reactivity Measurement Facility ") announced the Board of Directors has approved a plan to enter into an agreement to buy back 396,000 shares from a private investor group. The company plans to retire the stock. William Armanino, 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. of Armanino Foods, said, "We believe that because of our strong financial position of having the cash available, the continued growth of our core frozen pesto business and the exciting potential of our specialty pastas, that now is the wise and prudent time to execute a buy back." Armanino Foods reported net sales Net Sales The amount a seller receives from the buyer after costs associated with the sale are deducted. Notes: This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight for the quarter ended Sept. 30, 1996 were $3,687,365, as compared to $3,188,155 for the quarter ended Sept. 30, 1995, a 16 percent increase. Armanino Foods of Distinction, Inc. is a national specialty food company that makes frozen pesto sauces, filled pasta products and meatballs to the retail, foodservice, club stores and industrial food industries. CONTACT: Armanino Foods of Distinction, Inc., William Armanino, president & CEO, 510/441-9300 or Creative Options Advertising, Jim Drewitz, investor relations Investor relations The process by which the corporation communicates with its investors. , 817/430-3131 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion