AMCON Distributing Company (DIT, Financial) filed Quarterly Report for the period ended 2009-03-31.
Ditech Networks supplies voice processing equipment for telecommunication networks around the world. Ditech Networks' solutions incorporate advanced voice processing Session Initiation Protocol and security technologies delivered on carrier-grade scalable platforms to enhance the delivery of communications services over mobile Voice over IP and wireline networks. Ditech Networks' customers are premier network operators including Verizon Wireless Sprint/Nextel Orascom Telecom and others that collectively serve more than fe million subscribers AMCON Distributing Company has a market cap of $16.2 million; its shares were traded at around $28.24 . The dividend yield of AMCON Distributing Company stocks is 1.4%. AMCON Distributing Company had an annual average earning growth of 11.6% over the past 5 years.
$3.43 and $2.16 for the three months ended March 2009 and March 2008,
respectively, and $5.80 and $3.92 for the six months ended March 2009
and March 2008, respectively.
Three months Six months
ended March ended March
- -
Incr. Incr.
2009 2008 (Decr) 2009 2008 (Decr)
- - - - - -
Wholesale distribution segment $185.9 $179.9 $ 6.0 $394.3 $381.1 $ 13.2
Retail health food segment 9.5 10.5 (1.0) 18.5 20.0 (1.5)
- - - - - -
$195.4 $190.4 $ 5.0 $412.8 $401.1 $ 11.7
= = = = = =
Gross profit by business segment for the three and six month periods ended
March 2009 and March 2008 are as follows (dollars in millions):
Three Months Six Months
ended March ended March
- -
Incr Incr
2009 2008 (Decr) 2009 2008 (Decr)
- - - - - -
Wholesale distribution segment $ 13.2 $ 11.2 $ 2.0 $25.4 $ 22.5 $ 2.9
Retail health food segment 4.0 4.5 (0.5) 7.7 8.4 (0.7)
- - - - - -
$ 17.2 $ 15.7 $ 1.5 $ 33.1 $ 30.9 $ 2.2
= = = = = =
Q2 2009 operating expenses increased approximately $0.3 million as compared
to Q2 2008. Significant items impacting operating expenses included a
$0.3 million increase in health insurance costs, a $0.3 million increase
in compensation costs, and a $0.1 million increase in bad debt expense.
These items were partially offset by a $0.4 million decrease in fuel costs.
Operating expenses for the six month period ended March 2009 increased
approximately $0.8 million as compared to the same prior year period.
Significant items impacting operating expenses included a $0.5 million
increase in health insurance costs, a $0.5 million increase in compensation
costs, and a $0.2 million increase in bad debt expense. These items were
partially offset by a $0.4 million decrease in fuel costs.
Financing Activities: The Company used cash of $18.1 million for financing
activities during the six months ended March 2009. Of this amount, $15.4
million related to net payments on the Company's credit facility, $2.0
million related to the redemption of the Company's Series C Convertible
Preferred Stock, $0.4 million related to principal payments on long-term
debt, and $0.3 million related to dividends on the Company's common and
preferred stock.
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Ditech Networks supplies voice processing equipment for telecommunication networks around the world. Ditech Networks' solutions incorporate advanced voice processing Session Initiation Protocol and security technologies delivered on carrier-grade scalable platforms to enhance the delivery of communications services over mobile Voice over IP and wireline networks. Ditech Networks' customers are premier network operators including Verizon Wireless Sprint/Nextel Orascom Telecom and others that collectively serve more than fe million subscribers AMCON Distributing Company has a market cap of $16.2 million; its shares were traded at around $28.24 . The dividend yield of AMCON Distributing Company stocks is 1.4%. AMCON Distributing Company had an annual average earning growth of 11.6% over the past 5 years.
Highlight of Business Operations:
- recognized income from continuing operations per basic share of$3.43 and $2.16 for the three months ended March 2009 and March 2008,
respectively, and $5.80 and $3.92 for the six months ended March 2009
and March 2008, respectively.
Three months Six months
ended March ended March
- -
Incr. Incr.
2009 2008 (Decr) 2009 2008 (Decr)
- - - - - -
Wholesale distribution segment $185.9 $179.9 $ 6.0 $394.3 $381.1 $ 13.2
Retail health food segment 9.5 10.5 (1.0) 18.5 20.0 (1.5)
- - - - - -
$195.4 $190.4 $ 5.0 $412.8 $401.1 $ 11.7
= = = = = =
Gross profit by business segment for the three and six month periods ended
March 2009 and March 2008 are as follows (dollars in millions):
Three Months Six Months
ended March ended March
- -
Incr Incr
2009 2008 (Decr) 2009 2008 (Decr)
- - - - - -
Wholesale distribution segment $ 13.2 $ 11.2 $ 2.0 $25.4 $ 22.5 $ 2.9
Retail health food segment 4.0 4.5 (0.5) 7.7 8.4 (0.7)
- - - - - -
$ 17.2 $ 15.7 $ 1.5 $ 33.1 $ 30.9 $ 2.2
= = = = = =
Q2 2009 operating expenses increased approximately $0.3 million as compared
to Q2 2008. Significant items impacting operating expenses included a
$0.3 million increase in health insurance costs, a $0.3 million increase
in compensation costs, and a $0.1 million increase in bad debt expense.
These items were partially offset by a $0.4 million decrease in fuel costs.
Operating expenses for the six month period ended March 2009 increased
approximately $0.8 million as compared to the same prior year period.
Significant items impacting operating expenses included a $0.5 million
increase in health insurance costs, a $0.5 million increase in compensation
costs, and a $0.2 million increase in bad debt expense. These items were
partially offset by a $0.4 million decrease in fuel costs.
Financing Activities: The Company used cash of $18.1 million for financing
activities during the six months ended March 2009. Of this amount, $15.4
million related to net payments on the Company's credit facility, $2.0
million related to the redemption of the Company's Series C Convertible
Preferred Stock, $0.4 million related to principal payments on long-term
debt, and $0.3 million related to dividends on the Company's common and
preferred stock.
Read the The complete Report
