AMCON Distributing Co. swings to profit in fiscal 2007
Consumer products company, AMCON Distributing Co. (AMEX: DIT), reported that it swung to a profit for its fiscal year 2007.
For the fiscal year ended Sept. 30, the Omaha, Neb.-based company posted net income of $4 million, or earnings per share of $5.16, compared with a loss of $1.3 million, or $1.62 per share. No analyst estimates were available.
Sales for the year were $853.6 million, a 1.6% decrease over sales of $839.5 million booked in 2006.
The company’s wholesale distribution segment reported revenues of $815.7 million and operating income before depreciation and amortization of $14.1 million. Its retail health food segment reported revenues of $37.9 million and operating income before depreciation and amortization of $3.7 million.
Shares of AMCON (DIT) jumped 24.87%, or $6.65, to $33.39 at 1:53 p.m. ET. Shares of AMCON have been trading in the range of $13.75 to $36.88 for the past 52 weeks.
