Exhibit 99.1

AMCON Distributing Company Reports Fully Diluted Earnings Per Share of $0.49 for the Quarter Ended March 31, 2018

OMAHA, Neb.--(BUSINESS WIRE)--April 18, 2018--AMCON Distributing Company (“AMCON”) (NYSE American:DIT), an Omaha, Nebraska based consumer products company is pleased to announce fully diluted earnings per share of $0.49 on net income available to common shareholders of $0.3 million for our second fiscal quarter ended March 31, 2018.

“We operate in a highly competitive environment in both our business segments. AMCON will continue to initiate the operating investments necessary to support our customers and enhance our leadership position in the Convenience Distribution Industry. Foodservice expertise is a critical part of the future of our industry and our commitment to this category remains at the forefront of our business strategy. In addition, we seek to develop proprietary technology capabilities as the needs of our customers grow in complexity. This approach has served to differentiate us from our competition,” said Christopher H. Atayan, AMCON’s Chairman and Chief Executive Officer. He further noted, “We are actively seeking acquisitions that can benefit from our extensive platform of customer service. We are also looking carefully at a number of geographic growth opportunities as our customer base expands.”

“Our annual spring trade show in Kansas City was well received by our customers and vendors. This event provides momentum as we enter our customers’ peak selling season,” said Kathleen M. Evans, President of AMCON’s Wholesale Distribution segment. She further noted, “We are making the logistics and related technology investments necessary to support our customers’ geographic growth.”

“We are pleased with the progress of our new store in Lakeland, Florida. Our management team is developing market driven enhancements to our core business model in order for us to compete in this highly challenging retail environment. We will continue to invest heavily in new stores and store upgrades as that is necessary for us to remain a viable competitor in the market place,” said Clifford Ginn, President of AMCON’s Retail Health Food Segment.

“We actively manage our working capital and liquidity which provides an ability to respond quickly to the dynamic environments in which both of our business segments operate. This conservative approach provides us significant flexibility to act in the long term best interest of the many constituencies we serve. Both of our business segments are utilizing significant financial resources in the course of making the investments necessary for long term competitive success,” said Andrew C. Plummer, AMCON’s Chief Financial Officer. “We were pleased to close the March 31, 2018 quarter with shareholders’ equity of $70.1 million and consolidated debt of $33.4 million.”

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
March 31, 2018 and September 30, 2017
March September
2018 2017
Current assets:
Cash $ 564,817 $ 523,065
Accounts receivable, less allowance for doubtful accounts of $0.7 million at March 2018 and $0.8 million at September 2017 29,245,698 30,690,403
Inventories, net 76,092,792 72,909,996
Prepaid and other current assets   3,002,475     4,218,811  
Total current assets 108,905,782 108,342,275
Property and equipment, net 13,616,571 13,307,986
Goodwill 6,349,827 6,349,827
Other intangible assets, net 3,446,186 3,494,311
Other assets   330,391     310,488  
Total assets $ 132,648,757   $ 131,804,887  
Current liabilities:
Accounts payable $ 17,720,165 $ 17,631,552
Accrued expenses 6,710,555 7,553,089
Accrued wages, salaries and bonuses 2,612,826 3,477,966
Income taxes payable 175,600 544,069
Current maturities of long-term debt   379,302     373,645  
Total current liabilities 27,598,448 29,580,321
Credit facility 30,549,306 29,037,182
Deferred income tax liability, net 1,912,941 2,336,263
Long-term debt, less current maturities 2,456,769 2,648,179
Other long-term liabilities 36,078 34,100
Shareholders’ equity:
Preferred stock, $.01 par value, 1,000,000 shares authorized
Common stock, $.01 par value, 3,000,000 shares authorized, 684,004 shares outstanding at March 2018 and 678,006 shares outstanding at September 2017 8,441 8,314
Additional paid-in capital 22,036,562 20,825,919
Retained earnings 62,296,042 60,935,911
Treasury stock at cost   (14,245,830 )   (13,601,302 )
Total shareholders’ equity   70,095,215     68,168,842  
Total liabilities and shareholders' equity $ 132,648,757   $ 131,804,887  

AMCON Distributing Company and Subsidiaries
Condensed Consolidated Unaudited Statements of Operations
for the three and six months ended March 31, 2018 and 2017
For the three months ended March For the six months ended March
2018 2017 2018 2017
Sales (including excise taxes of $83.1 million and $85.7 million, and $171.7 million and $176.7 million, respectively) $ 295,207,286 $ 294,047,870 $ 610,720,495 $ 604,152,099
Cost of sales   278,141,110     276,573,968     575,462,557     568,362,211  
Gross profit   17,066,176     17,473,902     35,257,938     35,789,888  
Selling, general and administrative expenses 15,619,420 15,820,504 31,973,028 31,518,823
Depreciation and amortization   537,903     529,969     1,068,908     1,056,402  
  16,157,323     16,350,473     33,041,936     32,575,225  
Operating income   908,853     1,123,429     2,216,002     3,214,663  
Other expense (income):
Interest expense 313,364 147,910 515,555 365,453
Other (income), net   (27,410 )   (14,964 )   (32,543 )   (20,737 )
  285,954     132,946     483,012     344,716  
Income from operations before income tax expense 622,899 990,483 1,732,990 2,869,947
Income tax expense (benefit)   284,000     502,000     (86,000 )   1,335,000  
Net income available to common shareholders $ 338,899   $ 488,483   $ 1,818,990   $ 1,534,947  
Basic earnings per share available to common shareholders $ 0.49 $ 0.72 $ 2.64 $ 2.26
Diluted earnings per share available to common shareholders $ 0.49 $ 0.71 $ 2.61 $ 2.22
Basic weighted average shares outstanding 689,480 678,938 688,570 680,318
Diluted weighted average shares outstanding 697,406 688,016 697,563 690,190
Dividends declared and paid per common share $ 0.46 $ 0.46 $ 0.64 $ 0.64

AMCON Distributing Company and Subsidiaries
Condensed Consolidated Unaudited Statements of Cash Flows
for the six months ended March 31, 2018 and 2017
March March
2018 2017
Net income $ 1,818,990 $ 1,534,947

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

Depreciation 1,020,783 923,903
Amortization 48,125 132,499
Gain on sale of property and equipment (300 ) (21,624 )
Equity-based compensation 642,785 765,554
Deferred income taxes (423,322 ) 318,682
Provision (recovery) for losses on doubtful accounts (77,000 ) 29,000
Inventory allowance (231,625 ) 72,197
Other 1,978 1,308
Changes in assets and liabilities:
Accounts receivable 1,521,705 2,266,241
Inventories (2,951,171 ) 2,625,416
Prepaid and other current assets 1,216,336 778,364
Other assets (19,903 ) (52,854 )
Accounts payable 126,012 (771,163 )
Accrued expenses and accrued wages, salaries and bonuses (1,059,839 ) (822,955 )
Income taxes payable   (368,469 )   (117,476 )
Net cash flows from operating activities   1,265,085     7,662,039  
Purchase of property and equipment (1,366,767 ) (837,895 )
Proceeds from sales of property and equipment   300     31,978  
Net cash flows from investing activities   (1,366,467 )   (805,917 )
Borrowings under revolving credit facility 623,945,799 610,559,577
Repayments under revolving credit facility (622,433,675 ) (615,994,225 )
Principal payments on long-term debt (185,753 ) (180,267 )
Repurchase of common stock (644,528 ) (1,038,060 )
Dividends on common stock (458,859 ) (452,685 )
Withholdings on the exercise of equity-based awards   (79,850 )   (107,082 )
Net cash flows from financing activities   143,134     (7,212,742 )
Net change in cash 41,752 (356,620 )
Cash, beginning of period   523,065     605,380  
Cash, end of period $ 564,817   $ 248,760  
Supplemental disclosure of cash flow information:
Cash paid during the period for interest $ 489,840 $ 365,620
Cash paid during the period for income taxes 705,790 1,133,794
Supplemental disclosure of non-cash information:
Equipment acquisitions classified in accounts payable 63,962 29,219

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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