AMCON Distributing Company (“AMCON”) (NYSE AMEX:DIT), an Omaha, Nebraska based consumer products company is pleased to announce fully diluted earnings per share of $3.67 for the third fiscal quarter ended June 30, 2010.
“We were able to post another solid quarter in both of our business segments,” said Christopher H. Atayan, AMCON’s Chairman and Chief Executive Officer. “Our focused business strategy is delivering results for our customers and shareholders. We are executing our corporate plan in a step-by-step fashion as we believe this fundamental approach will best position the enterprise for future growth. In addition, we are actively seeking acquisitions in both of our operating segments.”
AMCON’s wholesale distribution business reported revenues of $257.8 million and operating income before depreciation and amortization of $5.2 million in the third quarter of fiscal 2010. AMCON’s retail health food business reported revenues of $9.2 million and operating income before depreciation and amortization of $1.0 million for the same period.
Kathleen Evans, President of AMCON’s wholesale distribution business commented “We are working closely with our customers to develop product strategies to enhance their bottom line. This customer centric approach is mutually beneficial and the core of our growth strategy. We continue to expand the length and breadth of our food service program.”
Eric Hinkefent, President of AMCON’s retail health food business commented “We are pleased with the results of our new store opening in Tulsa. Our careful attention to the price value relationship of our product mix has enabled us to perform well in a challenging environment. We continue to seek additional growth opportunities where we can employ our profitable business model.”
“Our shareholders’ equity grew to $30.1 million during the period. We continue to maintain high levels of liquidity, as a central theme of our strategy is to use our balance sheet strength to develop profitable merchandising opportunities for our customers. Our Northwest Arkansas expansion is progressing according to plan,” said Andrew C. Plummer, AMCON’s Chief Financial Officer.