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ARMANINO
FOODS OF DISTINCTION, INC. ANNOUNCES
FIRST QUARTER FINANCIAL RESULTS
Hayward, CA (April 20, 2005)
Armanino Foods of Distinction, Inc. (NASDAQ Small Cap Symbol: ARMF) announced
today financial results for the first quarter ended March 31, 2005.
Net sales for the first quarter ended March 31, 2005 were $3,129,268 compared to $3,055,659 for the first quarter of 2004, an increase of
2%.
Income from operations before income taxes for the first quarter ended March 31,
2005 resulted in income of $34,863 compared to income of $24,176 a year ago.
Net income for the first quarter ended March 31, 2005
amounted to $24,753 compared to $17,165 for the same period in 2004.
The Company reported basic earnings per share of $0.01 for the quarter
ended March 31, 2005 compared to $0.01 for the like 2004 quarter.
Diluted earnings per share were $0.01 for the first quarter of 2005 and
$0.00 for the like 2004 quarter.
William J. Armanino, President and CEO of Armanino
Foods said, The first quarter is usually the slowest of the year in terms of
sales and profitability, but our prospects and indications for future business
remain strong. We are especially pleased with our sauce sales which are up from
the same quarter a year ago.
Armanino concluded, We expect that our expanded sales
force and promotional efforts will build momentum for us as the year
progresses.
Armanino is an international food company that manufactures
and markets frozen pestos, filled pasta products, meatballs, cooked meat, cooked
poultry products, garlic spreads and focaccia to the retail, food service, club
stores, institutional, and industrial food industry segments.
First Quarter Chart
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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