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, 2015.

Net sales for the first quarter ended March 31, 2015 were $8,143,817 compared to $7,306,325 for the first quarter of 2014, an increase of 11%. Income from operations for the first quarter of 2015 was $1,565,976 compared to $1,398,268 for the comparable quarter a year ago, an increase of 12%. Earnings per share for the first quarter of 2015 was $0.0299, compared to $0.0267 for the same quarter a year ago, an increase of 12%.

Edmond J. Pera, President and CEO of Armanino Foods said, “We are very pleased with our record breaking results. Sales in all sectors of our business were up primarily due to higher demand of our products from new and existing customers, fueled in part by our aggressive investment in promotional expenditures. Despite higher promotional expenses and a higher mix of lower margin products, we were able to achieve record breaking profits for the quarter as a result of “across the board” growth in sales volume and economies of scale in our operating expenses.”

Pera continued, “We intend to continue to invest heavily in promotional expenditures into the foreseeable future in order to profitably grow our domestic markets. Also, we are in the process of securing a major piece of manufacturing equipment which will replace an older existing one. We expect the new equipment to also add substantial manufacturing capacity. This new equipment is expected to be installed sometime in the third quarter of this year.”

Pera concluded, “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 3/31/15 (Unaudited)

               

2015

               

2014

  Net Sales $8,143,817 $7,306,325   Income From Cont. Operations Before Taxes $1,565,976 $1,398,268   Net Income $959,746 $857,443   Basic Income Per Common Share $0.0299 $0.0267   Weighted Average Common Shares Outstanding 32,065,645 32,065,645   Diluted Income/(Loss) Per Common Share $0.0299 $0.0267   Diluted Weighted Average Common Shares Outstanding 32,065,645 32,065,645  

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