AMNF Armanino Foods of Distinction Inc New (QX)

Armanino Foods of Distinction, Inc. (OTC Pink: AMNF) today reported record sales and profits for the first quarter ending March 31, 2014.

Net sales for the first quarter ended March 31, 2014 were $7,306,325 compared to $6,699,072 for the first quarter of 2012, an increase of 10%. Income from operations for the first quarter of 2014 was $1,398,268 compared to $1,216,261 for the comparable quarter a year ago, an increase of 15%. Earnings per share for the first quarter of 2014 was $0.0267, compared to $0.0233 for the same quarter a year ago, an increase of 15%.

Edmond J. Pera, President and CEO of Armanino Foods said, “Our first quarter sales in the western part of the United States and to our international customers were very strong. Even though first quarter sales in the eastern and mid-western parts of the U.S. initially started out slow because of inclement weather, revenue had rebounded significantly by the end of the quarter to make up enough ground to result in higher year over year sales in those territories.”

Pera continued, “We invested in higher than normal promotional expenses which helped fuel our sales increase, but these expenditures did affect our first quarter bottom line. We expect that these strategic expenditures will support the generation of additional sales and overall profitability for future quarters.”

Pera concluded, “Both our sales pipeline and our cash position currently remain strong. Armanino is cautiously optimistic about its prospects for continued gains in revenue and profitability for the remainder of the year.”

Armanino Foods of Distinction, Inc. is an international food company that manufactures and markets frozen Italian specialty food items such as pestos, sauces and filled pastas to the foodservice, retail, and industrial markets. In addition to a classic Basil Pesto Armanino offers other flavors such as Cilantro, Dried Tomato & Garlic, Roasted Red Bell Pepper, Southwest Chipotle, Artichoke, Roasted Garlic, Light Basil Pesto, Alfredo sauce, and Bolognese sauce. Armanino’s Organic line includes classic Basil Pesto. Frozen pastas and meatballs are also offered by Armanino Foods.

 

Armanino Foods of Distinction, Inc.Results for the Quarter Ended 3/31/14 (Unaudited)

     

2014

 

2013

Net Sales $7,306,325 $6,669,072 Income From Cont. Operations Before Taxes $1,398,268 $1,216,261 Net Income $857,443 $746,419 Basic Income Per Common Share $0.0267 $0.0233 Weighted Average Common Shares Outstanding 32,065,645 32,015,381 Diluted Income/(Loss) Per Common Share $0.0267 $0.0233 Diluted Weighted Average Common Shares Outstanding 32,065,645 32,088,320  

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 reports. The Company assumes no obligation to update the information included in this press release.

The best source of information on the company is the OTC Markets website http://www.otcmarkets.com/stock/amnf/company-info, or the Company website http://www.armaninofoods.com

Armanino Foods of Distinction, Inc.Edgar Estonina, 510-441-9300CFOamnf@armaninofoods.com