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AMCON Distributing Company Reports Fully Diluted Earnings Per Share of $2.45 for the Quarter Ended March 31, 2019
OMAHA, Neb.--(BUSINESS WIRE)--April 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 $2.45 on net income available to common shareholders of $1.5 million for its second fiscal quarter ended March 31, 2019.
“AMCON’s newly enhanced distribution facility in Bismarck, North Dakota began shipping this quarter. Our management team and associates did a tremendous job in completing this project in a challenging weather environment. We have been a long-term service provider in the northern marketplace and this new investment reinforces our commitment to the success of our customers,” said Christopher H. Atayan, AMCON’s Chairman and Chief Executive Officer. He further noted, “Our organization continues its close collaboration with customers to design leading edge foodservice programs that are competitive with quick-service restaurants. Additionally, we are actively seeking strategic acquisition opportunities that we believe can benefit from AMCON’s portfolio of technologies and services.”
“We are actively evaluating a number of additional strategic facility initiatives to support the growth needs of our customer base. Our emphasis on first class service and reliability is the foundation of our position as a leader in the convenience distribution industry. As such, we will continue to make investments in people, facilities and equipment necessary for sustained excellence,” said Andrew C. Plummer, AMCON’s President and Chief Operating Officer. He further noted, “Our Healthy Edge Retail Group management team is implementing a comprehensive merchandising and point of sale system update to our base of retail health food stores. These initiatives are in support of our objective of being a total wellness solution for consumers.” Mr. Plummer further added, “We were pleased to close March 31, 2019 with total shareholders’ equity of $64.8 million and consolidated debt of $21.4 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 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 Thursday, April 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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