Last10K.com

Amcon Distributing Co (DIT) SEC Filing 10-Q Quarterly report for the period ending Thursday, December 31, 2020

Amcon Distributing Co

CIK: 928465 Ticker: DIT
Exhibit 99.1

AMCON Distributing Company Reports Results for the Quarter Ended December 31, 2020

OMAHA, Neb.--(BUSINESS WIRE)--January 19, 2021--AMCON Distributing Company (“AMCON”) (NYSE American: DIT), an Omaha, Nebraska based consumer products company, is pleased to announce fully diluted earnings per share of $5.57 on net income available to common shareholders of $3.1 million for its first fiscal quarter ended December 31, 2020.

“We are pleased with our results for the first fiscal quarter. AMCON faced a challenging operating environment. Our management team was able to deliver to our customers a safe and seamless level of customer service,” said Christopher H. Atayan, AMCON’s Chairman and Chief Executive Officer. Mr. Atayan further noted, “AMCON remains focused on our long term strategic initiatives. We continue to seek out acquisition opportunities for distributors who want to align with our growing platform and customer centric management philosophy.”

The wholesale distribution segment reported revenues of $393.6 million and operating income of $5.8 million for the first quarter of fiscal 2021. The retail health food segment reported revenues of $11.1 million and an operating loss of $0.1 million for the first quarter of fiscal 2021.

“We work interactively with our customers to develop customized foodservice and technology platforms. This collaborative approach enables our customers to enhance their profitability, which is especially important in light of rapidly changing market conditions. Our customer base continues to grow geographically and AMCON is deploying the capital and human resources necessary to support this growth,” said Andrew C. Plummer, AMCON’s President and Chief Operating Officer.

Charles J. Schmaderer, AMCON’s Chief Financial Officer said, “We are pleased with the progress of our strategic investment in Team Sledd, LLC. We ended the quarter with $65.6 million of shareholders’ equity and continue to work closely with our banking group to optimize our capital structure. During the quarter, we refinanced and extended the maturity of certain term loans allowing us to capitalize on the current interest rate environment.”

AMCON’s Healthy Edge Retail Group plays an important role in the health and wellness of the communities it serves. Throughout the pandemic, our management team has worked diligently to offer a continuous and safe shopping experience for customers. Our long term relationship with the organic/natural products vendor community has enabled our stores to meet the demands of our customers for total wellness solutions. Our strategy is to offer a broad selection of the highest quality organic and natural merchandise available supported by a high degree of customer service not found at other big box retailers within our industry.


The following information was filed by Amcon Distributing Co (DIT) on Tuesday, January 19, 2021 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.

View differences made from one quarter to another to evaluate Amcon Distributing Co's financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Amcon Distributing Co.

Continue

Assess how Amcon Distributing Co's management team is paid from their Annual Proxy

Definitive Proxy Statement (Form DEF 14A)
Screenshot example of actual Proxy Statement

Amcon Distributing Co's Definitive Proxy Statement (Form DEF 14A) filed after their 2021 10-K Annual Report includes:

  • Voting Procedures
  • Board Members
  • Executive Team
  • Salaries, Bonuses, Perks
  • Peers / Competitors

Continue

SEC Filing Tools

Rating

Learn More
Bullish Bearish Neutral
Filter Sentiment:
All
Positive
Negative
Filter Category:
All
Revenue
Financial
Legal
Other
Filter Subcategory:
All
Product
Earnings
Expense
Other
Inside Amcon Distributing Co's 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Condensed Consolidated Balance Sheets
Condensed Consolidated Balance Sheets (Parenthetical)
Condensed Consolidated Unaudited Statements Of Cash Flows
Condensed Consolidated Unaudited Statements Of Operations
Condensed Consolidated Unaudited Statements Of Operations (Parenthetical)
Condensed Consolidated Unaudited Statements Of Shareholders' Equity
Condensed Consolidated Unaudited Statements Of Shareholders' Equity (Parenthetical)
Business Segments
Business Segments (Details)
Business Segments (Tables)
Common Stock Repurchases
Common Stock Repurchases (Details)
Debt
Debt (Tables)
Debt - Credit Facility (Details)
Debt - Cross Default And Co-Terminus Provisions And Other (Details)
Debt - Long-Term Debt (Details)
Dividends
Dividends (Details)
Earnings Per Share
Earnings Per Share (Details)
Earnings Per Share (Tables)
Equity Method Investment
Equity Method Investment (Details)
Equity Method Investment (Tables)
Equity Method Investment - Equity Investee's Summarized Financial Data (Details)
Equity-Based Incentive Awards
Equity-Based Incentive Awards (Tables)
Equity-Based Incentive Awards - All Equity-Based Awards (Details)
Equity-Based Incentive Awards - Authorized And Approved Restricted Stock Unit Awards (Details)
Equity-Based Incentive Awards - Omnibus Plans And Stock Options (Details)
Equity-Based Incentive Awards - Restricted Stock Unit Activity (Details)
Goodwill And Other Intangible Assets
Goodwill And Other Intangible Assets (Tables)
Goodwill And Other Intangible Assets - Goodwill (Details)
Goodwill And Other Intangible Assets - Other Intangible Assets (Details)
Impact Of Covid-19
Inventories
Inventories (Details)
Summary Of Significant Accounting Policies And Basis Of Presentation
Summary Of Significant Accounting Policies And Basis Of Presentation (Details)
Summary Of Significant Accounting Policies And Basis Of Presentation (Policies)
Ticker: DIT
CIK: 928465
Form Type: 10-Q Quarterly Report
Accession Number: 0001558370-21-000265
Submitted to the SEC: Tue Jan 19 2021 4:10:37 PM EST
Accepted by the SEC: Tue Jan 19 2021
Period: Thursday, December 31, 2020
Industry: Wholesale Groceries General Line

External Resources:
Stock Quote
Social Media

Bookmark the Permalink:
https://last10k.com/sec-filings/dit/0001558370-21-000265.htm