Armanino Foods of Distinction touts "record-breaking" Q1 - Just Food
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Armanino Foods of Distinction touts “record-breaking” Q1

19 Apr 2017

US pesto-to-pasta maker Armanino Foods of Distinction has filed its "highest-ever first-quarter results", with growth in sales and profits.

US pesto-to-pasta maker Armanino Foods of Distinction has filed its “highest-ever first-quarter results”, with growth in sales and profits.

Armanino posted a 3% increase in net earnings to US$1.1m for the three months to the end of March. Income from operations was up 1% at $1.7m.

The company’s net sales also rose 1%, reaching $9.1m.

President and CEO Edmond Pera said: “The growth in our revenue this quarter was driven by the strength in our domestic markets which offset weaker sales from our Asian markets which declined for a second quarter in a row. The company continues to aggressively invest in domestic promotional expenditures in order to grow in the US market. While we are cautiously optimistic about sales in our domestic markets, we remain guarded on our outlook on sales in our Asian markets due to the lingering effects of a soft economy in that part of the world.”