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abouthistorynewsproductionmarketing 


Armanino Foods of Distinction,  Inc.
Announces Third Quarter Financial Results
 

Hayward, CA (November 2, 2005) Armanino Foods of Distinction, Inc. (Pink Sheets Symbol: ARMF ) announced today net sales and operating and net income for the third quarter and nine month periods ended September 30, 2005.

 Net sales for the third quarter ended
September 30, 2005 amounted to $3,883,935 as compared to $3,249,171 for the same period in 2004, an increase of 20%. The percentage increase in net sales, one of the highest in the Company’s history, was attributable to higher food service sales. Net sales for the nine months ended September 30, 2005 were $10,635,240 as compared to $9,705,248, an increase of 10%.

 Income from continuing operations before taxes for the third quarter of 2005 was $319,593 compared to $102,792 for the third quarter of 2004, an increase of 211%. This increase is also attributable to higher food service sales. Income from continuing operations before income taxes for the nine months ended
September 30, 2005 was $661,875 compared to $332,930, an increase of 99%.
 

Net income for the third quarter of 2005 amounted to $177,969 or $0.05 per share compared to the September 2004 quarter which amounted to $72,982 or $0.02 per share. Net income for the nine months ended
September 30, 2005 amounted to $403,875 or $0.11 per share compared to $236,380 or $0.07 per share for the nine months ended September 30, 2004 .


William J. Armanino, President and CEO of Armanino Foods said, “Our decision to double our food service sales team in 2004 is now paying dividends as is evident by our significant sales increase in the quarter. We anticipate that this favorable momentum will continue.”

Armanino continued, “We are currently marketing two 100% organic pestos and have revitalized all of our retail pasta packaging.  In addition we have upgraded the quality of our pasta products to truly gourmet status. We believe that these decisions will add to our sales growth in future quarters.”


Armanino concluded, “We believe our strong balance sheet with no long term debt and more than adequate cash reserves will allow us to maintain our current dividend policy.”

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.

Third Quarter Financials


This press release contains forward-looking statements within the meaning of U.S. securities laws. These forward looking statements are subject to certain risks and uncertainties that could cause the actual results to differ materially from those projected. The Company assumes no obligation to update the information included in this press release.

 

© 2003 Armanino Foods of Distinction, Inc.
email questions to webmaster@armanino.biz
Revised: February 17, 2006