US: Armanino sees product mix benefit
Armanino Foods of Distinction, the US food maker, has said that a "favourable" product mix and cost controls benefited its third-quarter profits.
The company, which booked a 4% increase in sales, saw pre-tax income from continuing operations jump 55% to US$795,141 during the three months to 30 September.
"The gain is attributable to many factors. The two most prominent are a favorable product mix and stringent cost controls in all areas of the business," the company said.
The company reported net income for the third quarter of $486,478, compared to $25,694 after an extraordinary loss of $294,118 for the comparable quarter a year ago.
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