Amcon Distributing Co (DIT) SEC Filing 10-K Annual report for the fiscal year ending Wednesday, September 30, 2015

Exhibit 99.1

AMCON Distributing Company Reports Fully Diluted Earnings Per Share of $8.59 for the Fiscal Year Ended September 30, 2015

OMAHA, Neb.--(BUSINESS WIRE)--November 6, 2015--AMCON Distributing Company (“AMCON”) (NYSE MKT:DIT), an Omaha, Nebraska based consumer products company is pleased to announce fully diluted earnings per share of $8.59 on net income available to common shareholders of $6.2 million for the fiscal year ended September 30, 2015. AMCON earned $2.73 per fully diluted share on net income available to common shareholders of $2.0 million for the fourth fiscal quarter ended September 30, 2015.

“We are pleased with our results for fiscal 2015. AMCON’s leadership position in the convenience distribution industry is a function of our relentless focus on customer service and reliability,” said Christopher H. Atayan, AMCON’s Chairman and Chief Executive Officer. He further noted, “We believe our focused strategic plan and customer centric philosophy has enabled AMCON to navigate this challenging business environment. Our objective is to deliver attractive risk adjusted rates of return on the capital we employ. To support this objective we continue to invest in foodservice and information technology both of which drive the profitability of our customers.”

The wholesale distribution segment reported revenues of $1.3 billion and operating income before depreciation and amortization of $18.3 million for fiscal 2015, and revenues and operating income before depreciation and amortization of $336.9 million and $5.3 million, respectively, for the fourth fiscal quarter of fiscal 2015. The retail health food segment reported revenues of $31.3 million and operating income before depreciation and amortization of $1.1 million for fiscal 2015, and revenue of $7.6 million and operating income before depreciation and amortization of $0.2 million for the fourth fiscal quarter of 2015.

“Our emphasis on building long term relationships continues to provide us with a significant competitive advantage,” said Kathleen Evans, President of AMCON’s Wholesale Distribution Segment. Evans continued, “This is clearly evident based on our positive fall trade show response which will provide considerable momentum as we enter fiscal 2016. We are actively working with our customers to expand our service territory as they grow.”

“The Retail Health Food industry continues to grow. However, with this growth there has been substantial competition enter our markets which has pressured revenues,” said Eric Hinkefent, President of AMCON’s Retail Health Food segment. “We have taken an aggressive approach to rationalize our operating expenses in light of the competitive environment and are looking at alternative ways to maintain our margins,” added Hinkefent.

“We are very focused on increasing our shareholders’ equity per share, maintaining high levels of balance sheet liquidity and generating free cash flow. At September 30, 2015, our shareholders’ equity was $61.4 million, resulting in adjusted book value per share of $88.23. We turned our inventory twenty-three times and consolidated debt was $24.6 million. At its lowest point during fiscal 2015 our consolidated debt was $12.6 million,” said Andrew Plummer, AMCON’s Chief Financial Officer. “We continue to place a high priority on the development of information technology for internal and external purposes. These are important investments in the future of our business. In addition, we are exploring additional upgrades and enhancements to our facilities system wide,” added Plummer.