Armanino Foods of Distinction, Inc. Reports Highest Sales and Profits Ever for the Fourth Quarter and Fiscal Year End
Net sales for the fourth quarter of 2023 were
Net sales for the year ending 2023 were
Anderson continued, “Our margins continue to improve, driven by our focus on optimizing our operations and implementing more disciplined buying practices. We are currently in the final stages of upgrading our infrastructure with an expected completion date by late 2024. Our efforts are reflected in the significant increase in sales, profits, and shareholder value throughout 2023.”
Results for Quarter Ended |
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|
|
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2023 |
2022 |
||||
|
|
|||||
|
$ |
16,092,538 |
$ |
13,717,899 |
||
Income Before Taxes |
$ |
3,355,709 |
$ |
2,045,138 |
||
Net Income |
$ |
2,569,156 |
$ |
1,446,209 |
||
Basic Income Per Common Share |
$ |
0.0801 |
$ |
0.0451 |
||
Weighted Average Common Shares Outstanding |
|
32,065,645 |
|
32,065,645 |
||
Diluted Income/(Loss) Per Common Share |
$ |
0.0801 |
$ |
0.0451 |
||
Diluted Weighted Average Common Shares Outstanding |
|
32,065,645 |
|
32,065,645 |
||
|
|
|
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Results for the Year Ended |
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|
|
|
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|
|
2023 |
|
2022 |
||
|
$ |
63,561,091 |
$ |
57,873,545 |
||
Income Before Taxes |
$ |
11,674,160 |
$ |
8,867,258 |
||
Net Income |
$ |
8,758,085 |
$ |
6,603,589 |
||
Basic Income Per Common Share |
$ |
0.2731 |
$ |
0.2059 |
||
Weighted Average Common Shares Outstanding |
|
32,065,645 |
|
32,065,645 |
||
Diluted Income/(Loss) Per Common Share |
$ |
0.2731 |
$ |
0.2059 |
||
Diluted Weighted Average Common Shares Outstanding |
|
32,065,645 |
|
32,065,645 |
This press release contains forward-looking statements within the meaning of
View source version on businesswire.com: https://www.businesswire.com/news/home/20240311411176/en/
For further information, please contact:
COO/CFO
(510) 441-9300
AMNF@armaninofoods.com
Source: