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Armanino Foods of Distinction
Reports Record First Quarter Sales and Net Income
Sales Up 19.3%, Net Income Rises by Almost 600%
HAYWARD
,
Calif.
, April 25th, 2006 ---
Armanino Foods
of Distinction (AMNF) 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,
“and we are particularly gratified 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 increases resulted from
the investments we made last year in expanding and strengthening our sales
force. The gains make us optimistic
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 Red Bell Pepper,
Southwest Chipotle, Artichoke, Mushroom, Alfredo and organic sauces, filled
pasta products, meatballs, cooked poultry products, garlic spreads and focaccia
to the food service, industrial, institutional industry.
First
Quarter Financial Results
For
further information, please contact:
Don Rosendale, Don Rosendale & Partners
DonPR1@AOL.COM,
845.373.9017
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.
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