Exhibit 99.1

AMCON Distributing Company Reports Fully Diluted Earnings Per Share of $2.13 for the Quarter Ended December 31, 2017

OMAHA, Neb.--(BUSINESS WIRE)--January 18, 2018--AMCON Distributing Company (“AMCON”) (NYSE MKT:DIT), an Omaha, Nebraska based consumer products company is pleased to announce fully diluted earnings per share of $2.13 on net income available to common shareholders of $1.5 million for the fiscal quarter ended December 31, 2017.

“We are pleased with our start to fiscal 2018. Our business philosophy is centered on customer service and reliability which enables us to compete in a challenging environment. We expect to continue to operate the enterprise with a view toward sustained capital expenditures. This investment is necessary to maintain and enhance our strong competitive position in light of current operating conditions,” said Christopher H. Atayan, AMCON’s Chairman and Chief Executive Officer. He further noted, “As a leader in the convenience distribution industry, AMCON is actively seeking acquisitions in the convenience distribution and foodservice industries that can benefit from our extensive platform of services.”

For the first fiscal quarter, the Wholesale Distribution Segment reported revenues of $309.2 million and operating income of $3.2 million. Our Retail Health Food Segment reported revenues of $6.3 million and an operating loss of $0.5 million.

“Foodservice category sales are growing industry wide. We are among the leaders in program development and strive to continue to enhance our capabilities in this category,” said Kathleen M. Evans, President of AMCON’s Wholesale Distribution Segment.

“We opened our second store in the Lakeland, Florida market early in fiscal 2018 which has been well received,” said Clifford Ginn, President of AMCON’s Retail Health Food Segment. “We will continue to invest in brand reimaging, social media, new stores, store remodeling, and marketing as we seek to address the competitive challenges we face in the industry. Our Midwestern markets operate in a highly challenging environment.”

“We closed the December 31, 2017 quarter with shareholders’ equity of $70.5 million and consolidated debt of $15.6 million,” said Andrew C. Plummer, AMCON’s Chief Financial Officer. Plummer added, “During the first fiscal quarter, the Company benefitted approximately $0.9 million from the implementation of the Tax Cuts and Jobs Act which was signed into law on December 22, 2017. This tax cut will facilitate our continued development in technology products for our internal and external customers in a rapidly changing environment. In addition, we have a commitment to investing in our facilities and transportation equipment to serve our long term strategic initiatives in foodservice. We continue to actively manage our working capital and liquidity which affords us the ability to invest in our businesses for the long-term which benefits our customers.”

AMCON is a leading wholesale distributor of consumer products, including beverages, candy, tobacco, groceries, foodservice, frozen and chilled foods, and health and beauty care products with locations in Illinois, Missouri, Nebraska, North Dakota, South Dakota and Tennessee. AMCON also operates sixteen (16) health and natural product retail stores in the Midwest and Florida. The retail stores operate under the names Chamberlin's Market & Cafe www.chamberlins.com and Akin’s Natural Foods Market www.akins.com.

This news release contains forward-looking statements that are subject to risks and uncertainties and which reflect management's current beliefs and estimates of future economic circumstances, industry conditions, Company performance and financial results. A number of factors could affect the future results of the Company and could cause those results to differ materially from those expressed in the Company's forward-looking statements including, without limitation, availability of sufficient cash resources to conduct its business and meet its capital expenditures needs and the other factors described under Item 1.A. of the Company’s Annual Report on Form 10-K. Moreover, past financial performance should not be considered a reliable indicator of future performance. Accordingly, the Company claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 with respect to all such forward-looking statements.

Visit AMCON Distributing Company's web site at: www.amcon.com

AMCON Distributing Company and Subsidiaries
Condensed Consolidated Balance Sheets
December 31, 2017 and September 30, 2017
December September
2017 2017
Current assets:
Cash $ 570,560 $ 523,065
Accounts receivable, less allowance for doubtful accounts of $0.8 million at both December 2017 and September 2017 30,511,104 30,690,403
Inventories, net 49,699,948 72,909,996
Prepaid and other current assets   7,982,638     4,218,811  
Total current assets 88,764,250 108,342,275
Property and equipment, net 13,014,903 13,307,986
Goodwill 6,349,827 6,349,827
Other intangible assets, net 3,461,811 3,494,311
Other assets   323,643     310,488  
Total assets $ 111,914,434   $ 131,804,887  
Current liabilities:
Accounts payable $ 15,022,223 $ 17,631,552
Accrued expenses 6,735,349 7,553,089
Accrued wages, salaries and bonuses 1,555,176 3,477,966
Income taxes payable 657,095 544,069
Current maturities of long-term debt   376,478     373,645  
Total current liabilities 24,346,321 29,580,321
Credit facility 12,638,221 29,037,182
Deferred income tax liability, net 1,854,151 2,336,263
Long-term debt, less current maturities 2,552,935 2,648,179
Other long-term liabilities 35,089 34,100
Shareholders’ equity:
Preferred stock, $.01 par value, 1,000,000 shares authorized
Common stock, $.01 par value, 3,000,000 shares authorized, 690,486 shares outstanding at December 2017 and 678,006 shares outstanding at September 2017 8,441 8,314
Additional paid-in capital 22,009,620 20,825,919
Retained earnings 62,086,133 60,935,911
Treasury stock at cost   (13,616,477 )   (13,601,302 )
Total shareholders’ equity   70,487,717     68,168,842  
Total liabilities and shareholders' equity $ 111,914,434   $ 131,804,887  

AMCON Distributing Company and Subsidiaries
Condensed Consolidated Unaudited Statements of Operations
for the three months ended December 31, 2017 and 2016
For the three months ended December
2017 2016
Sales (including excise taxes of $88.6 million and $91.0 million, respectively) $ 315,513,209 $ 310,104,229
Cost of sales   297,321,447     291,788,243  
Gross profit   18,191,762     18,315,986  
Selling, general and administrative expenses 16,353,608 15,698,319
Depreciation and amortization   531,005     526,433  
  16,884,613     16,224,752  
Operating income 1,307,149 2,091,234
Other expense (income):
Interest expense 202,191 217,543
Other (income), net   (5,133 )   (5,773 )
  197,058     211,770  
Income from operations before income tax expense 1,110,091 1,879,464
Income tax expense (benefit)   (370,000 )   833,000  
Net income available to common shareholders $ 1,480,091   $ 1,046,464  
Basic earnings per share available to common shareholders $ 2.15 $ 1.54
Diluted earnings per share available to common shareholders $ 2.13 $ 1.52
Basic weighted average shares outstanding 687,679 681,668
Diluted weighted average shares outstanding 695,950 688,676
Dividends declared and paid per common share $ 0.18 $ 0.18

AMCON Distributing Company and Subsidiaries
Condensed Consolidated Unaudited Statements of Cash Flows
for the three months ended December 31, 2017 and 2016
December December
2017 2016
Net income $ 1,480,091 $ 1,046,464

Adjustments to reconcile net income from operations to net cash flows from operating activities:

Depreciation 498,505 460,183
Amortization 32,500 66,250
Gain on sale of property and equipment (300 ) (23,559 )
Equity-based compensation 334,256 459,278
Deferred income taxes (482,112 ) 406,972
Provision (recovery) for losses on doubtful accounts (3,000 ) 183
Provision for losses on inventory obsolescence 30,660 58,776
Other 989 319
Changes in assets and liabilities:
Accounts receivable 182,299 3,605,673
Inventories 23,179,388 (1,385,731 )
Prepaid and other current assets (3,763,827 ) 1,969,853
Other assets (13,155 ) 24,074
Accounts payable (2,523,433 ) (2,179,939 )
Accrued expenses and accrued wages, salaries and bonuses (2,011,951 ) (2,370,918 )
Income taxes payable   113,026     28,134  
Net cash flows from operating activities   17,053,936     2,166,012  
Purchase of property and equipment (291,318 ) (400,778 )
Proceeds from sales of property and equipment   300     31,478  
Net cash flows from investing activities   (291,018 )   (369,300 )
Borrowings under revolving credit facility 305,522,554 319,265,456
Repayments under revolving credit facility (321,921,515 ) (319,998,237 )
Principal payments on long-term debt (92,411 ) (89,662 )
Repurchase of common stock (15,175 ) (1,038,060 )
Dividends on common stock (129,026 ) (127,713 )
Withholdings on the exercise of equity-based awards   (79,850 )   (82,456 )
Net cash flows from financing activities   (16,715,423 )   (2,070,672 )
Net change in cash 47,495 (273,960 )
Cash, beginning of period   523,065     605,380  
Cash, end of period $ 570,560   $ 331,420  
Supplemental disclosure of cash flow information:
Cash paid during the period for interest $ 199,423 $ 223,802
Cash paid during the period for income taxes 397,894
Supplemental disclosure of non-cash information:
Equipment acquisitions classified in accounts payable 15,465 2,128
Dividends declared, not paid 200,843 194,173

Issuance of common stock in connection with the vesting and exercise of equity-based awards

1,183,091 1,262,763

AMCON Distributing Company
Christopher H. Atayan, 402-331-3727

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