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AMCON Distributing Company Reports Results for the Fiscal Year Ended September 30, 2021
OMAHA, Neb.--(BUSINESS WIRE)--November 8, 2021--AMCON Distributing Company (“AMCON”) (NYSE American: DIT), an Omaha, Nebraska based consumer products company, is pleased to announce fully diluted earnings per share of $27.36 on net income available to common shareholders of $15.5 million for the fiscal year ended September 30, 2021. AMCON earned $11.00 per fully diluted share on net income available to common shareholders of $6.3 million for the fourth fiscal quarter ended September 30, 2021.
“We are pleased with our fiscal 2021 results. AMCON’s associates and management did an outstanding job of securing the products and staffing necessary for success in the convenience distribution industry. We have a long-standing tradition of providing a superior level of customer service. This core operating philosophy has guided us through these difficult times and helped ensure that AMCON’s customers have received a consistent and timely flow of goods and services,” said Christopher H. Atayan, AMCON’s Chairman and Chief Executive Officer. He further noted, “We continue to seek strategic acquisition opportunities for operators who want to align with our customer centric management philosophy.”
The wholesale distribution segment reported revenues of $1.6 billion and operating income of $24.5 million for fiscal 2021, and revenues and operating income of $438.7 million and $7.9 million, respectively, for the fourth fiscal quarter of fiscal 2021. The retail health food segment reported revenues of $47.3 million and operating income of $1.8 million for fiscal 2021, and revenues of $12.1 million and operating income of $0.6 million for the fourth fiscal quarter of fiscal 2021.
“We remain committed to making the requisite capital expenditures in the coming years to support the Company’s investments in its foodservice and technology platforms, expand its geographic reach, and the continued redevelopment of its retail health food store portfolio. We continue to expand the territories we serve as our customers grow their store footprint,” said Andrew C. Plummer, AMCON’s President and Chief Operating Officer.
Charles J. Schmaderer, AMCON’s Chief Financial Officer said, “At September 30, 2021, our shareholders’ equity was $77.6 million, resulting in adjusted book value per share of $139.27. During fiscal 2021, we turned our inventory 20 times and ended the year with $49.3 million of consolidated debt. At its lowest point during fiscal 2021, the Company’s consolidated debt was approximately $28.8 million.” Mr. Schmaderer also added, “We are pleased with the results of our investment in Team Sledd, LLC.”
AMCON’s Healthy Edge Retail Group plays an important role in the health and wellness of the communities it serves. Throughout the pandemic, our management team has worked diligently to offer a continuous and safe shopping experience for customers. Our long term relationship with the organic/natural products vendor community has enabled our stores to meet the demands of our customers for total wellness solutions. Our strategy is to offer a broad selection of the highest quality organic and natural merchandise available supported by a high degree of customer service not found at other big box retailers within our industry.
The following information was filed by Amcon Distributing Co (DIT) on Monday, November 8, 2021 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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