AMCON Distributing Company (DIT) filed Quarterly Report for the period ended 2011-12-31.
Amcon Distributing has a market cap of $43 million; its shares were traded at around $69.07 with a P/E ratio of 6.6. The dividend yield of Amcon Distributing stocks is 1%. Amcon Distributing had an annual average earning growth of 14.8% over the past 10 years.
Highlight of Business Operations:Sales in our Wholesale Segment increased $39.2 million during Q1 2012 as compared to Q1 2011. Significant items impacting sales during Q1 2012 included a $46.3 million increase in sales related to our acquisition of LPS in May 2011 and a $6.4 million increase in sales related to price increases implemented by cigarette manufactures. These increases were partially offset by a $12.8 million decrease in sales primarily related to the volume and mix of cigarette cartons sold and a $0.7 million decrease in sales in our tobacco, beverage, snacks, candy, grocery, health & beauty products, automotive, food service, and store supplies categories (Other Products).
Sales in our Retail Segment decreased approximately $0.6 million in Q1 2012 as compared to Q1 2011. The change in sales is primarily related to lower sales in our Akins retail stores which have experienced increased competition from the expansion of national health food chains, partially offset by higher sales in our Florida market stores which continue to show improved results coming off the depths of the severe recession in that region.
Gross profit in our Wholesale Segment increased $1.3 million in Q1 2012 as compared to Q1 2011. Of this increase, approximately $2.4 million related to our acquisition of LPS. Partially offsetting this increase was $1.1 million reduction in gross profit related to lower cigarette and Other Product sales volume and mix.
Gross profit for the Retail Segment decreased $0.3 million in Q1 2012 as compared to Q1 2011. This decrease was primarily related to lower sales volumes in our Akins retail stores.
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