AMCON Distributing Company (“AMCON”) (AMEX:DIT), a consumer products company is pleased to announce fully diluted earnings per share of $11.99 on net income available to common stockholders of $8.7 million for the fiscal year ended September 30, 2010.
“We are proud to have surpassed the $1 billion mark in sales for the first time in the history of the Company. This achievement is a testament to the high degree of collaboration between our management team, our loyal customer base, and the major branded consumer products companies whose products we distribute. Our organization is committed to enhancing our customers’ profitability. We believe this customer centric philosophy ultimately drives our bottom line,” said Christopher H. Atayan, AMCON’s Chairman and Chief Executive Officer. “Our acquisition in Northwest Arkansas is fully integrated into our operations and has been both a financial and operating success. Further, our new retail health food store in Tulsa has performed according to expectations,” noted Mr. Atayan.
Each of AMCON’s business segments reported excellent years. The wholesale distribution segment reported revenues of $973.8 million and operating income before depreciation and amortization of $18.6 million for all of fiscal 2010 and revenues and operating income before depreciation and amortization of $260.0 million and $5.2 million, respectively, for the fourth fiscal quarter of fiscal 2010. The retail health food segment reported revenues of $36.8 million and operating income before depreciation and amortization of $4.1 million for fiscal 2010 and revenue of $9.1 million and operating income before depreciation and amortization of $0.9 million for the fourth fiscal quarter of 2010.
“We will continue to focus on expanding our foodservice offerings in the coming year. Foodservice products offer attractive gross profits for our customers. In these difficult economic times our emphasis on premium service continues to differentiate us from the competition,” said Kathleen Evans, President of AMCON’s wholesale distribution segment.