Armanino Foods of Distinction, Inc. Board Authorized Additional Repurchase of Common Stock.Business Editors HAYWARD, Calif.--(BUSINESS WIRE)--Jan. 24, 2000 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 Small Cap Symbol: ARMF ARMF Advanced Reactivity Measurement Facility ) announced that its Board of Directors has increased the amount that had been previously authorized au·thor·ize tr.v. au·thor·ized, au·thor·iz·ing, au·thor·iz·es 1. To grant authority or power to. 2. To give permission for; sanction: for the repurchase re·pur·chase tr.v. re·pur·chased, re·pur·chas·ing, re·pur·chas·es To buy (something) again. n. The act of buying something that one previously sold or owned. Noun 1. of shares of the Company's common stock in the open market. In early November 1999 the Company had authorized up to $500,000 for this repurchase program. The Board's recent action has increased the allocation The apportionment or designation of an item for a specific purpose or to a particular place. In the law of trusts, the allocation of cash dividends earned by a stock that makes up the principal of a trust for a beneficiary usually means that the dividends will be treated as to up to $800,000. The Board of Directors continues to believe the Company's common stock is undervalued Undervalued A stock or other security that is trading below its true value. Notes: The difficulty is knowing what the "true" value actually is. Analysts will usually recommend an undervalued stock with a strong buy rating. and that it would be in the best interest of the Company and its shareholders to utilize some of the Company's cash resources to repurchase its stock. The Company anticipates the repurchases will be made at the discretion of management from time to time depending on market conditions. Armanino Foods of Distinction, Inc. is an international authentic Italian food company that manufactures and markets frozen pesto, 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, sauced entrees, meatballs and focaccia to the retail, food service, club stores, and institutional food industry segments. This press release contains forward looking statements within the meaning of U.S. securities laws, including statements regarding the Company's goals and growth prospects. These forward looking statements are subject to certain risks and uncertainties that could cause the actual results to differ materially from those projected, including general economic conditions, fluctuations in customer demand, competitive factors such as pricing pressures on existing products, and the timing and market acceptance of new product introductions, the Company's ability to achieve manufacturing efficiencies necessary for profitable sales at current pricing, and the risk factors listed from time-to-time in the Company's annual and quarterly SEC reports. The Company assumes no obligation to update the information included in this press release. |
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