USA: Armanino Foods of Distinction, Inc. announces fourth quarter financial results
Armanino Foods of Distinction, Inc. (NASDAQ Small Cap Symbol: ARMF) announced yesterday net sales, operating and net income, and earnings per share for the fourth quarter and year ended December 31, 2000. Net sales for the fourth quarter ended December 31, 2000 were $3,117,781, compared to $3,488,949 for the fourth quarter of 1999, a decrease of 11%. This quarterly sales decrease is attributable to a major sales promotion in December a year ago which was not duplicated in 2000. Net sales for the year ended December 31, 2000 were $13,459,478 compared to 1999 sales of $12,155,719, an increase of 11%. All product lines, with the exception of meatballs, showed double digit increases for the year.
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