Armanino Foods of Distinction Reports Record First Quarter Sales and Net Income; Sales Up 19.3%, Net Income Rises by Almost 600%.HAYWARD, Calif. -- Armanino Foods of Distinction (AMNF AMNF Address Mark Not Found (hard drive error) ) today reported record sales and net income for the first quarter of 2006. The company said that for the three months ending March 31st, 2006, sales rose from $3,129,268 in the same period last year to $3,732,017 in the current quarter. In the same period, net income after taxes almost sextupled, from $24,753 in 2005 to $172,357 this year. This was an actual percentage increase of 596%. "These are the best first quarter results we have reported in the company's entire history," said William Armanino, the company's 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. , "and we are particularly gratified grat·i·fy tr.v. grat·i·fied, grat·i·fy·ing, grat·i·fies 1. To please or satisfy: His achievement gratified his father. See Synonyms at please. 2. because these gains, coming in what normally is our slowest quarter, resulted from improvement in both our food service and retail markets. "In large part," he continued, "these gratifying grat·i·fy tr.v. grat·i·fied, grat·i·fy·ing, grat·i·fies 1. To please or satisfy: His achievement gratified his father. See Synonyms at please. 2. increases resulted from the investments we made last year in expanding and strengthening our sales force. The gains make us optimistic op·ti·mist n. 1. One who usually expects a favorable outcome. 2. A believer in philosophical optimism. op that we will report solid sales and earnings throughout the year." Earnings per share for the first quarter of 2006 were a penny, versus zero in the same period last year. Armanino is an international food company that manufactures and markets frozen Basil pesto sauce and numerous other sauces such as Cilantro, Dried Tomato Garlic, 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 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.
Armanino Foods of Distinction, Inc.
Results For The First Quarter Ended March 31, 2006 (Unaudited)
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2006 2005
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Net Sales $3,732,017 $3,129,268
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Income From Cont. Operations Before Taxes $216,978 $34,863
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Net Income $172,357 $24,753
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Basic Income Per Common Share $0.01 $0.00
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Weighted Average Common Shares Outstanding 17,318,190 17,166,540
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Diluted Income Per Common Share $0.01 $0.00
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Diluted Weighted Average Common Shares
Outstanding 17,401,357 18,152,035
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Note:
Shares
shown at
post 5:1
split of
Dec. 2005
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