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AMCON Distributing Company (“AMCON”) (NYSE MKT:DIT), an Omaha, Nebraska based consumer products company is pleased to announce fully diluted earnings per share of $7.79 on net income available to common shareholders of $5.7 million for the fiscal year ended September 30, 2013. AMCON earned $2.07 per fully diluted share on net income available to common shareholders of $1.5 million for the fourth fiscal quarter ended September 30, 2013.
“We are pleased with the results for fiscal 2013. AMCON has earned a leadership position in the convenience distribution industry as a result of our relentless focus on customer service and reliability. We believe these philosophies directly correlate to the positive results for the year,” said Christopher H. Atayan AMCON’s Chairman and Chief Executive Officer. He further noted, “We continue to experience highly competitive conditions in both of our operating segments. Our objective is to deliver attractive risk adjusted rates of return on the assets as we navigate this challenging environment. We believe our focused strategic plan and customer centric philosophy are essential elements as we seek to meet our short, medium, and long term objectives.”
“We take a long term approach to customer relationships and this has proven to be mutually beneficial,” said Kathleen Evans, President of AMCON’s Wholesale Distribution Segment. “Our fall trade shows have provided positive momentum as we enter fiscal 2014. Our accrual and foodservice programs as well as our new product introductions are developed with our customers’ profitability in mind,” added Ms. Evans.
“We opened two new stores during fiscal 2013 and are actively seeking additional locations that are consistent with our business model,” said Eric Hinkefent, President of AMCON’s Retail Health Food Segment. “The competition is expanding in our marketplace as a result of the industry’s growth. Margins will continue to experience pressure as a result of these new entrants,” added Hinkefent.