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AMCON Distributing Company Reports Fully Diluted Earnings Per Share of $1.10 for the Quarter Ended June 30, 2019
OMAHA, Neb.--(BUSINESS WIRE)--July 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 $1.10 on net income available to common shareholders of $0.7 million for its third fiscal quarter ended June 30, 2019.
“AMCON’s emphasis on first class service and reliability is a firm part of our tradition as a leader in the convenience distribution industry. Our leadership team is proactively evaluating strategic facility initiatives to support the growth needs and competitive position of our customer base. As such, we will continue to enthusiastically make investments in people, facilities, and equipment necessary for sustained excellence,” said Christopher H. Atayan, AMCON’s Chairman and Chief Executive Officer. He further noted, “Our Healthy Edge Retail Group management team is planning a comprehensive merchandising and point of sale solution to support our objective of being a total wellness solution for our customers.”
“We collaborate closely with our customers to design cutting edge foodservice programs that are competitive and profitable for our customers. Our portfolio of foodservice warehouse and fleet assets positions us as a leader in the convenience distribution industry,” said Andrew C. Plummer, AMCON’s President and Chief Operating Officer. In addition, he noted, “As the convenience industry consolidates, AMCON’s platform of technology and history of customer service position the business well for strategic acquisitions.” Mr. Plummer further added, “We were pleased to close June 30, 2019 with total shareholders’ equity of $65.4 million and consolidated debt of $36.2 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, July 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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