US: Armanino sales rise on foodservice focus
California-based Armanino Foods of Distinction has booked an 8% increase in sales, which benefitted from the company's increased focus on chain foodservice customers in its sales and marketing activity.
Net Sales for the third quarter ended 30 September totalled US$5.2m, up from $4.8m. Net sales for the nine months were $14.7m, up from $13.6m.
"Our decision eighteen months ago to focus more efforts on selling to medium-sized food service chains has resulted in higher sales as some consumers have rotated into eating at chain establishments as opposed to the higher end "white table cloth" restaurants. We now cover both market segments," president and CEO William Armanino said.
Earnings per share for the three and nine-month periods amounted to $.009 and $.022 respectively, compared to $.009 and $.019 for the comparable 2007 periods. Basic net income per share for the three and nine month 2008 periods amounted to $.001 and $.013, respectively.
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