Armanino Foods of Distinction, Inc. Reports Highest Quarterly Sales, Profits and Earnings Per Share in Its History

Armanino Foods of Distinction, Inc. (OTC Pink Sheets Symbol: AMNF) today reported its highest quarterly sales, profits and earnings per share in the Company’s history. Year to date results for sales, profits and earnings per share are also Company records.

Net sales for the second quarter of 2012 were $7,097,885 as compared to $6,290,645 for Q2 2011, an increase of 13%.

Income from continuing operations before taxes for the second quarter of 2012 was $1,304,763 compared to $1,088,307 for the same quarter in 2011, an increase of 20%. Earnings per share for the second quarter of 2012 were $0.025 as opposed to $0.020 for the second quarter of 2011, an increase of 25%.

For the first six months of 2012 net sales were $13,781,499 compared to $12,155,115 a year ago, an increase of 13%. Income from continuing operations for 2012’s second quarter rose by 18% to $2,351,354 from $1,993,594 for the same period in 2011. Earnings per share for the first six months of 2012 amounted to $0.045 compared to $0.036 posted in 2011, an increase of 24%. The increase in earnings per share from period to period has been fueled not only by increased profitability but by the impact of our stock repurchase program as well.

Edmond J. Pera, President and CEO of Armanino Foods, said, “International sales in the second quarter were especially strong contributing to the sales increase.”

Pera continued, “We expect our margins to remain healthy for the remainder of this year thanks to raw materials pricing contracts that we have in place through the end of 2012. As usual, we will closely monitor the outlook of our material costs so that we can manage our margins appropriately. We currently do not have any plans to raise our selling prices and plan to use this pricing strategy to try and increase our market share. We continue to see a greater consumer awareness of pesto sauces in the market place which in our opinion could lead to overall market expansion.”

Pera concluded, “We believe that our current strategies are working well toward helping us achieve our overall objectives.”

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 Light Basil Pesto, Cilantro, Dried Tomato & Garlic, Roasted Red Bell Pepper, Southwest Chipotle, Artichoke and Roasted Garlic. Armanino’s Organic line includes classic Basil Pesto. Frozen Pastas, Sauces and Meatballs are also offered by Armanino Foods.

    
      
        
          Armanino Foods of Distinction, Inc.Results for Quarter Ended 
          June 30, 2012 (Unaudited)
        
      
      
        
           
        
      
      
        
        
        
           
        
        
          

     2012

     2011

        
      
      
        
          Net Sales
        
        
        
        
          $7,097,885
        
        
        
        
          $6,290,645
        
      
      
        
          Income From Cont. Operations Before Taxes
        
        
        
        
          $1,304,763
        
        
        
        
          $1,088,307
        
      
      
        
          Net Income
        
        
        
        
          $800,405
        
        
        
        
          $668,013
        
      
      
        
          Basic Income Per Common Share
        
        
        
        
          $0.025
        
        
        
        
          

$0.020

        
      
      
        
          Weighted Average Common Shares Outstanding
        
        
        
        
          32,307,505
        
        
        
        
          33,715,144
        
      
      
        
          Diluted Income/(Loss) Per Common Share
        
        
        
        
          $0.025
        
        
        
        
          

$0.020

        
      
      
        
          Diluted Weighted Average Common Shares Outstanding
        
        
        
        
          32,332,194
        
        
        
        
          33,762,343
        
      
      
        
        
        
        
        
        
        
        
        
           
        
      
      
        
           
        
      
      
        
          Armanino Foods of Distinction, Inc.Results for Six Months 
          Ending June 30, 2012 (Unaudited)
        
      
      
        
           
        
      
      
        
        
        
        
        
          

     2012

     2011

        
      
      
        
          Net Sales
        
        
        
        
          $13,781,499
        
        
        
        
          $12,155,115
        
      
      
        
          Income From Cont. Operations Before Taxes
        
        
        
        
          $2,351,354
        
        
        
        
          $1,993,594
        
      
      
        
          Net Income
        
        
        
        
          $1,443,326
        
        
        
        
          $1,227,738
        
      
      
        
          Basic Income Per Common Share
        
        
        
        
          $0.045
        
        
        
        
          $0.036
        
      
      
        
          Weighted Average Common Shares Outstanding
        
        
        
        
          32,411,129
        
        
        
        
          34,278,751
        
      
      
        
          Diluted Income/(Loss) Per Common Share
        
        
        
        
          $0.044
        
        
        
        
          $0.036
        
      
      
        
          Diluted Weighted Average Common Shares Outstanding
        
        
        
        
          32,435,913
        
        
        
        
          34,335,009
        
      
      
        
        
        
        
        
        
        
        
        
           
        
      
      
        
          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.