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Amcon Distributing Co (DIT) SEC Filing 10-Q Quarterly Report for the period ending Wednesday, June 30, 2021

Amcon Distributing Co

CIK: 928465 Ticker: DIT
Exhibit 99.1

AMCON Distributing Company Reports Results for the Quarter Ended March 31, 2021

OMAHA, Neb.--(BUSINESS WIRE)--April 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 $4.33 on net income available to common shareholders of $2.4 million for its second fiscal quarter ended March 31, 2021.

“We are pleased with our results for the second fiscal quarter. AMCON takes a long-term strategic view to the operation of our business. Providing our valued partners with the highest level of service guides our focus on a daily basis. Our outstanding team of associates work tirelessly to provide value to the customers and communities we serve,” said Christopher H. Atayan, AMCON’s Chairman and Chief Executive Officer. Mr. Atayan further noted, “AMCON continues 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 $366.2 million and operating income of $4.4 million for the second quarter of fiscal 2021. The retail health food segment reported revenues of $12.3 million and operating income of $0.7 million for the second quarter of fiscal 2021.

“Supply chain management is an essential element of servicing our customers in this challenging environment. Our proprietary technology platforms and state-of-the-art foodservice programs are tools we use to enhance our customers’ profitability. Our customer base continues to grow geographically and AMCON is deploying the capital and human resources necessary to support this growth in a collaborative fashion,” said Andrew C. Plummer, AMCON’s President and Chief Operating Officer. Mr. Plummer further noted, “We are actively searching for facilities in, and adjacent to, the geographic markets we serve.”

Charles J. Schmaderer, AMCON’s Chief Financial Officer said, “AMCON is pleased with the progress of our strategic investment in Team Sledd, LLC. We ended the quarter with $67.8 million of shareholders’ equity and continue to relentlessly focus on maintaining high levels of liquidity in our business to support operations and our growth initiatives.”

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.

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 (20) health and natural product retail stores in the Midwest and Florida. The retail stores operate under the names Akin’s Natural Foods www.akins.com in its Midwest market, and Chamberlin's Natural Foods 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 Monday, April 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.

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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)
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)

Material Contracts, Statements, Certifications & more

Amcon Distributing Co provided additional information to their SEC Filing as exhibits

Ticker: DIT
CIK: 928465
Form Type: 10-Q Quarterly Report
Accession Number: 0001558370-21-009003
Submitted to the SEC: Mon Jul 19 2021 4:11:25 PM EST
Accepted by the SEC: Mon Jul 19 2021
Period: Wednesday, June 30, 2021
Industry: Wholesale Groceries General Line

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