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Exhibit 99.1
AMCON Distributing Company Reports Fully Diluted Earnings Per Share of $1.99 for the Quarter Ended December 31, 2018
OMAHA, Neb.--(BUSINESS WIRE)--January 18, 2019--AMCON Distributing Company (“AMCON”) (NYSE American:DIT), an Omaha, Nebraska based consumer products company is pleased to announce fully diluted earnings per share of $1.99 on net income available to common shareholders of $1.2 million for its first fiscal quarter ended December 31, 2018.
“Our emphasis on first class service and reliability is the foundation of our position as a leader in the convenience distribution industry,” said Christopher H. Atayan, AMCON’s Chairman and Chief Executive Officer. He further noted, “The convenience store industry is evolving and developing foodservice programs that are competitive with quick serve restaurants. Our management philosophy is to provide AMCON customers a wide array of foodservice programs that offer menu options that are optimal for their staffing and facility requirements. Additionally, we are continually evaluating strategic acquisition opportunities which may enhance the portfolio of services we offer our customers and allow us to service them at the highest level.”
“We continue to make the necessary strategic commitments to grow with our customers as they expand organically and through acquisitions. Accordingly, we continue to closely evaluate our current distribution coverage areas and the potential for establishing new distribution centers. Our Bismarck, North Dakota warehouse enhancement project is an immediate priority towards which we are allocating significant management resources,” said Andrew C. Plummer, AMCON’s President and Chief Operating Officer. He further noted, “Our Healthy Edge Retail Group management team is highly focused on developing merchandising strategies that build on the combined operational strengths and market position of our three store brands.” Mr. Plummer further added, “We were pleased to close December 31, 2018 with total shareholders’ equity of $65.7 million and consolidated debt of $27.8 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 twenty-two (22) health and natural product retail stores in the Midwest and Florida. The retail stores operate under the names Akin’s Natural Foods Market www.akins.com in its Midwest market, and Chamberlin's Market & Cafe www.chamberlins.com and Earth Origins Market www.earthoriginsmarket.com in its Florida market.
The following information was filed by Amcon Distributing Co (DIT) on Friday, January 18, 2019 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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