US pasta-to-pesto manufacturer Armanino Foods of Distinction has reported “record” first-quarter sales and profits.
The company reported “very strong” sales on the West Coast and to international customers for the three months to the end of March.
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Armanino said poor weather had hit sales on the US East Coast and in the Mid West in the first part of the quarter.
However, sales recovered and Armanino was able to post improved year-on-year sales from the regions. In total, net sales were up 10% at US$7.3m.
Income from operations rose 15% to $1.4m. Net income climbed 14.9% to $857,443 $746,419.
President and CEO Edmond Pera said: “We invested in higher than normal promotional expenses which helped fuel our sales increase, but these expenditures did affect our first quarter bottom line. We expect that these strategic expenditures will support the generation of additional sales and overall profitability for future quarters. Armanino is cautiously optimistic about its prospects for continued gains in revenue and profitability for the remainder of the year.”
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By GlobalData
