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AMCON Distributing Company Reports Operating Results (10-Q)

January 22, 2013 | About:
10qk

10qk

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AMCON Distributing Company (DIT) filed Quarterly Report for the period ended 2012-12-31.

Amcon Distributing Company has a market cap of $46 million; its shares were traded at around $73 with a P/E ratio of 7.7. The dividend yield of Amcon Distributing Company stocks is 1%. Amcon Distributing Company had an annual average earning growth of 18.2% over the past 10 years. GuruFocus rated Amcon Distributing Company the business predictability rank of 2.5-star.

Highlight of Business Operations:

Sales in our Wholesale Segment increased $18.5 million during Q1 2013 as compared to Q1 2012. Significant items impacting sales during Q1 2013 included a $6.0 million increase in sales related to price increases implemented by cigarette manufacturers, a $4.8 million increase in sales related to the volume and mix of cigarette cartons sold, a $4.8 million increase in sales related to higher state excise taxes during the comparative periods, and a $2.9 million increase in sales related to higher 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 increased approximately $0.2 million in Q1 2013 as compared to Q1 2012. This change in sales was primarily related to higher sales in our Florida market stores which continue to benefit from the growing demand for natural products, as well as the strengthening economic conditions in that region.

Gross profit in our Wholesale Segment increased $0.5 million in Q1 2013 as compared to Q1 2012. This increase in gross profit was primarily related to higher sales volume and mix in our Other Products categories. Gross profit for the Retail Segment increased $0.1 million in Q1 2013 as compared to Q1 2012. This increase was primarily related to higher sales volumes in our Chamberlins retail stores.

Operating expense includes selling, general and administrative expenses and depreciation and amortization. Selling, general, and administrative expenses include costs related to our sales, warehouse, delivery and administrative departments for all segments. Specifically, purchasing and receiving costs, warehousing costs and costs of picking and loading customer orders are all classified as selling, general and administrative expenses. Our most significant expenses relate to employee costs, facility and equipment leases, transportation costs, fuel costs, insurance, and professional fees. Q1 2013 operating expenses increased $0.5 million as compared to Q1 2012. This increase in operating expenses was primarily related to higher compensation and other operating expenses.

Read the The complete Report

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