Amcon Distributing Co (DIT) SEC Filing 10-K Annual report for the fiscal year ending Saturday, September 30, 2017

Exhibit 99.1

AMCON Distributing Company Reports Fully Diluted Earnings Per Share of $4.26 for the Fiscal Year Ended September 30, 2017

OMAHA, Neb.--(BUSINESS WIRE)--November 8, 2017--AMCON Distributing Company (“AMCON”) (NYSE MKT:DIT), an Omaha, Nebraska based consumer products company is pleased to announce fully diluted earnings per share of $4.26 on net income available to common shareholders of $2.9 million for the fiscal year ended September 30, 2017. AMCON earned $1.48 per fully diluted share on net income available to common shareholders of $1.0 million for the fourth fiscal quarter ended September 30, 2017.

“We are pleased with our results for fiscal 2017. AMCON continues to be a leader in the convenience distribution industry as a result of our relentless efforts to provide first class customer service and reliability. As the convenience store industry evolves and becomes increasingly complex, the wide variety of programs and services we offer serve to competitively differentiate our Company,” said Christopher H. Atayan, AMCON’s Chairman and Chief Executive Officer. He further noted, “We are diligently implementing our focused strategic plan anchored by our customer centric philosophy enabling our management team to navigate a challenging business environment. Our objective is to deliver attractive risk adjusted rates of return on the capital we employ. We expect an enhanced level of capital expenditures in the coming years to support our efforts in foodservice, information technology, expansion of our territory, and the addition of retail health food stores. In addition, we are seeking acquisitions in wholesale and foodservice distribution that further our strategic objectives.”

The wholesale distribution segment reported revenues of $1.2 billion and operating income of $13.7 million for fiscal 2017, and revenues and operating income of $331.9 million and $3.9 million, respectively, for the fourth fiscal quarter of fiscal 2017. The retail health food segment reported revenues of $25.4 million and an operating loss of $1.8 million for fiscal 2017, and revenue of $6.1 million and an operating loss of $0.7 million for the fourth quarter of fiscal 2017.

“Our wholesale customers are growing both organically and from acquisitions. To support this growth, we are actively expanding our service territory,” said Kathleen M. Evans, President of AMCON’s Wholesale Distribution Segment. Evans continued, “Our fall trade shows provided considerable momentum as we enter fiscal 2018. We embrace a long term approach to building our customers’ business which is mutually beneficial.”

“Our new flagship Chamberlin’s store, which we opened early in fiscal 2017 in the Orlando market, has been a commercial success. We have recently opened a second store in the Lakeland market which builds off the momentum we have made in the Florida market as a function of our brand reimaging and social media initiatives in this market,” said Clifford Ginn, President of AMCON’s Retail Health Food Segment. “We will continue to invest in 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.”