AMCON Distributing Company (“AMCON”) (NYSE AMEX MKT:DIT), an Omaha, Nebraska based consumer products company is pleased to announce fully diluted earnings per share of $1.90 on net income available to common shareholders of $1.4 million for the fiscal quarter ended December 31, 2012.
“Our management team is committed to the development of our focused business strategy in a diligent fashion. AMCON’s culture of extreme dedication to customer service is what enables us to deliver consistent results. The depth and breadth of our customer relationships, in both our divisions, is an important and valuable asset as the merchant landscape remains highly competitive,” said Christopher H. Atayan, AMCON’s Chairman and Chief Executive Officer. “We carefully manage our balance sheet and pay particular attention to the risk adjusted return on capital we employ. This approach, consistently applied, has enabled us to develop shareholder value over the long term, while prudently managing risk,” noted Mr. Atayan.
“The price/value relationship of our products and services are extremely important to our customer base. We are in alignment with our customers and our key vendors to develop dynamic merchandising programs that foster customer profitability and growth. We continue to make investments in foodservice and information technology as a key component of our program development,” said Kathleen Evans, President of AMCON’s wholesale distribution segment.
“We are progressing toward the opening of our two new stores located in Northwest Arkansas and Omaha, Nebraska. Site development and other preparations are going smoothly,” said Eric Hinkefent, President of AMCON’s retail health food segment. “We continue to look for new locations which support our customer focused business model,” added Mr. Hinkefent.
“We were able to use our balance sheet strength to achieve several corporate objectives during the quarter. We negotiated the repurchase of 38,000 shares of preferred stock and 14,209 shares of common stock while at the same time taking advantage of attractive product related opportunities. At December 31, 2012, shareholders’ equity was $48.8 million and consolidated debt was $36.3 million,” said Andrew Plummer, AMCON’s Chief Financial Officer. “We continue to make a wide variety of capital investments that will enhance our ability to provide first class service and support to our customers,” added Mr. Plummer.