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Microcap & Penny Stocks : ARMF (Armanino Foods of Distinction)
AMNF 2.32+0.4%10:18 AM EDTNews

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To: ghmm who wrote (24)3/1/2006 12:35:51 PM
From: ghmm   of 44
 
Armanino Foods Reports Record Sales and Earnings for 4th Quarter, 2005; Net Income and EPS Doubled
Wednesday, March 01, 2006 12:00 ET

HAYWARD, Calif., Mar 01, 2006 (BUSINESS WIRE) -- Armanino Foods of Distinction, Inc. (Pink Sheets:AMNF) today reported record sales, earnings and earnings per share for the fourth quarter of 2005 and the year ended Dec. 31, 2005.

The year-end results, the company said, benefited from a very strong fourth quarter of 2005, in which sales rose 20% from $3,433,016 in the same period the year before to $4,145,308 in the last quarter of 2005. As a result, net income for the fourth quarter rose 208%, from $78,915 in 2004 to $243,778 in 2005, and EPS for the quarter, from zero in 2004 to a penny for the last quarter of 2005.

Net income for the full year more than doubled, from $315,295 the prior year to $647,973 in 2005. As a consequence, earnings per share likewise rose by 102% from 2 cents fully diluted in 2004 to 4 cents for 2005.

The bottom line gains came on a year-over-year net sale increase of 12.5%, from $13,138,164 in 2004 to $14,780,564 in 2005.

"We were able to report a significant profit gain outpacing the increase in our overall sales because of the strategy we undertook last year to double our food service sales," said William J. Armanino, the company's president and CEO. "This is the highest sales and profit results in the company's history and I am optimistic for a similar performance in 2006."

"Our year-over-year earnings increase would have been even more dramatic," Mr. Armanino continued, "except that in 2004, we benefited from an export tax credit that did not carry over into 2005." He said the international sales now represent about 10% of the company's market -- the company has built a significant international market for its products -- and it has plans to continue to expand internationally in 2006 by entering other overseas markets.

"Even before these gratifying sales and earnings gains," Mr. Armanino said, "we enjoyed excellent financial health. We have no long-term debt and a comfortable cash reserve, even when paying our shareholders last year dividends amounting to 8 cents a share."

During 2005, Armanino shares were split 5-to-1. All per share numbers including dividends have been adjusted to reflect this and provide an accurate basis for comparison.

Armanino is an international food company that manufactures and markets frozen basil pesto sauce and numerous other sauces such as Cilantro, Dried Tomato Garlic, Roasted Red Bell Pepper, Southwest Chipotle, Artichoke, Mushroom, Alfredo and organic sauces which are in the development stage, filled pasta products, meatballs, cooked poultry products, garlic spreads and Focaccia to the food service, industrial, institutional industry. For 2006, it has an aggressive strategy to include retail sales.

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Armanino Foods of Distinction, Inc.
Results For Quarter and Twelve Months Ended December 31, 2005
(Unaudited)
----------------------------------------------------------------------
2005 2004
------------------------------------------ ------------ --------------

------------------------------------------ ------------ --------------
Net Sales $4,145,308 $3,433,016
------------------------------------------ ------------ --------------
Income From Cont. Operations Before Taxes $411,778 $52,672
------------------------------------------ ------------ --------------
Net Income $243,798 $78,915
------------------------------------------ ------------ --------------
Basic Income Per Common Share $0.01 $0.00
------------------------------------------ ------------ --------------
Weighted Average Common Shares Outstanding 17,382,328 16,984,780
------------------------------------------ ------------ --------------
Diluted Income Per Common Share $0.01 $0.00
------------------------------------------ ------------ --------------
Diluted Weighted Average Common Shares 18,062,324 17,794,175
Outstanding Note: Shares
shown at post
5:1 split of
Dec. 2005
----------------------------------------------------------------------

----------------------------------------------------------------------
Results for Twelve Months Ended 12/31/05 (Unaudited)
----------------------------------------------------------------------
2005 2004
------------------------------------------ ------------ --------------

------------------------------------------ ------------ --------------
Net Sales $14,780,548 $13,138,264
------------------------------------------ ------------ --------------
Income From Cont. Operations Before Taxes $1,073,653 $385,602
------------------------------------------ ------------ --------------
Net Income $647,973 $315,295
------------------------------------------ ------------ --------------
Basic Income Per Common Share $0.04 $0.02
------------------------------------------ ------------ --------------
Weighted Average Shares Outstanding 17,382,328 16,933,505
------------------------------------------ ------------ --------------
Diluted Income Per Common Share $0.04 $0.02
------------------------------------------ ------------ --------------
Diluted Weighted Average Common Shares 18,062,324 17,777,370
Outstanding Note: Shares
shown at post
5:1 split of
December 2005
----------------------------------------------------------------------

This press release contains forward-looking statements within the
meaning of U.S. securities laws, including statements regarding the
Company's goals and growth prospects. These forward looking statements
are subject to certain risks and uncertainties that could cause the
actual results to differ materially from those projected, including
general economic conditions, fluctuations in customer demand,
competitive factors such as pricing pressures on existing products,
and the timing and market acceptance of new product introductions, the
Company's ability to achieve manufacturing efficiencies necessary for
profitable sales at current pricing, and the risk factors listed from
time-to-time in the Company's annual and quarterly reports. The
Company assumes no obligation to update the information included in
this press release.
----------------------------------------------------------------------

SOURCE: Armanino Foods of Distinction, Inc.

Don Rosendale & Partners
Don Rosendale, 845-383-9017
DonPR1@AOL.COM

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