AMCON Distributing Company (“AMCON”) (NYSE AMEX:DIT), an Omaha, Nebraska based consumer products company is pleased to announce fully diluted earnings per share of $2.37 on net income available to common stockholders of $1.8 million for the fiscal quarter ended June 30, 2012.
“We are systematically implementing our strategic plan to grow within our existing service territory and to expand it. The wholesale and retail operating environment is highly competitive; however, we believe our focus on customer service positively differentiates our company from the competition. In addition to internal growth, we are actively reviewing acquisition opportunities in both our business segments,” said Christopher H. Atayan, AMCON’s Chairman and Chief Executive Officer. “We pay careful attention to our balance sheet and the return on capital we employ. We believe this disciplined approach enables us to develop shareholder value over the long term and carefully manage risk,” noted Mr. Atayan.
Each of AMCON’s business segments reported solid quarters. The wholesale distribution segment reported revenues of $297.6 million and operating income before depreciation and amortization of $4.5 million for the third fiscal quarter of 2012. The retail health food segment reported revenues of $9.5 million and operating income before depreciation and amortization of $0.9 million for the same period.
“We offer our customers a compelling price/value relationship. Our continued emphasis on developing dynamic programs to increase our customers’ profitably and facilitate their growth has served us well in this difficult environment. In particular, we see considerable opportunities in foodservice and continue to expand the breadth of those offerings,” said Kathleen Evans, President of AMCON’s wholesale distribution segment.“We are actively seeking new store locations in markets that have the demographics suited to our business model. The overall demand for natural products and supplements continues to expand which is driving expansion by our competitors as well. Our business approach, which emphasizes high levels of customer support and education has enabled us to maintain a leadership position in the markets we serve,” said Eric Hinkefent, President of AMCON’s retail health food segment.