AMCON Distributing Company is a leading wholesale distributor of consumer products including beverages, candy, tobacco, frozen and chilled foods, groceries, and health and beauty care products. The company distributes these products in the states of Nebraska, Missouri, Illinois, Arkansas, North Dakota and South Dakota. The company’s two wholly-owned subsidiaries, Health Food Associates and Chamberlin’s Natural Foods, operate health and natural product retail stores in Florida, Oklahoma, Kansas, Missouri and Nebraska.
The company recently announced that it had record fully diluted earnings per share of $16.61 on net income available to common stockholders of $12.4 million for the fiscal year ended September 30, 2009. Each of AMCON’s business segments reported excellent results:
The wholesale distribution segment reported revenues of $871.3 million and operating income before depreciation of $18.4 million for all of fiscal 2009. The retail health food segment reported revenues of $36.6 million and operating income before depreciation of $3.7 million for fiscal 2009. AMCON ended the year with stockholders’ equity of $23.8 million.
AMCON’s CFO Andrew Plummer commented on the company’s financials, “We are focused on maintaining high degrees of liquidity in our balance sheet in the short term. We were able to increase our stockholders’ equity by $12.8 million and reduce total debt by $20.9 million in fiscal 2009.”
On the outlook for the future, Mr. Plummer said, “We believe a conservative balance sheet is prudent in anticipation of softness in the broader economy that will to continue to impact our customers in fiscal 2010. This positions our organization to move decisively from a financial perspective when events and circumstances warrant.”