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| DIT > SEC Filings for DIT > Form 8-K on 12-Nov-2009 | All Recent SEC Filings |
12-Nov-2009
Results of Operations and Financial Condition
On November 5, 2009, AMCON Distributing Company ("AMCON") announced its financial results for the fiscal year ended September 30, 2009, and on November 6, 2009 filed with the Securities and Exchange Commission its annual report on Form 10-K for the fiscal year ended September 30, 2009, which report contained the consolidated balance sheets of AMCON and subsidiaries as of September 30, 2009 and 2008, and the related consolidated statements of operations, shareholders' equity and cash flows for the years then ended.
As a supplement to the previously disclosed financial information, AMCON is providing the following tabular presentation of certain unaudited quarterly financial information for each of the eight quarters in the two fiscal years ended September 30, 2009 and September 30, 2008.
The Company's quarterly earnings or loss per share are based on weighted average shares outstanding for the quarter, therefore, the sum of the quarters may not equal the full year earnings or loss per share amount.
(Dollars in thousands, except per share data)
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Fiscal Year 2009 First Second Third Fourth
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Sales...................................... $ 217,377 $ 195,442 $ 242,818 $ 252,316
Gross profit .............................. 15,845 17,247 17,064 17,984
Income from continuing operations ---------------------------------------------
before income taxes ..................... 2,262 3,537 3,666 4,396
Income from continuing operations.......... 1,402 2,194 2,255 2,643
Gain (loss) on disposal of discontinued
operations, net of income tax expense
(benefit) - - 4,666 -
Loss from discontinued operations.......... (102) (97) 13 -
---------------------------------------------
Net income................................. 1,300 2,097 6,934 2,643
Preferred stock dividend requirements...... (106) (314) (74) (75)
Net income available to common ---------------------------------------------
shareholders ............................. $ 1,194 $ 1,783 $ 6,860 $ 2,568
=============================================
Basic earnings (loss) per share available
to common shareholders:
Continuing operations ................... $ 2.38 $ 3.43 $ 3.97 $ 4.67
Discontinued operations ................. (0.19) (0.18) 8.52 -
---------------------------------------------
Net basic earnings per share available
to common shareholders ................. $ 2.19 $ 3.25 $ 12.49 $ 4.67
=============================================
Diluted earnings (loss) per share available
to common shareholders:
Continuing operations ................... $ 1.64 $ 2.72 $ 3.11 $ 3.58
Discontinued operations ................. (0.12) (0.12) 6.46 -
---------------------------------------------
Net diluted earnings (loss) per share
available to common shareholders $ 1.52 $ 2.60 $ 9.57 $ 3.58
=============================================
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(Dollars in thousands, except per share data)
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Fiscal Year 2008 First Second Third Fourth
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Sales...................................... $ 210,663 $ 190,412 $ 223,397 $ 235,979
Gross profit .............................. 15,196 15,742 16,262 17,476
Income from continuing operations ---------------------------------------------
before income taxes ..................... 1,686 1,995 2,344 2,762
Income from continuing operations.......... 1,045 1,267 1,487 1,794
Gain (loss) on disposal of discontinued
operations, net of income tax expense
(benefit) - - - -
Loss from discontinued operations.......... (96) (97) (99) 31
---------------------------------------------
Net income................................. 949 1,170 1,388 1,825
Preferred stock dividend requirements...... (105) (105) (104) (106)
Net income available to common ---------------------------------------------
shareholders ............................. $ 844 $ 1,065 $ 1,284 $ 1,719
=============================================
Basic earnings (loss) per share available
to common shareholders:
Continuing operations ................... $ 1.76 $ 2.16 $ 2.57 $ 3.16
Discontinued operations ................. (0.18) (0.18) (0.18) 0.05
---------------------------------------------
Net basic earnings per share available
to common shareholders ................. $ 1.58 $ 1.98 $ 2.39 $ 3.21
=============================================
Diluted earnings (loss) per share available
to common shareholders:
Continuing operations ................... $ 1.23 $ 1.48 $ 1.75 $ 2.11
Discontinued operations ................. (0.11) (0.11) (0.12) 0.03
---------------------------------------------
Net diluted earnings (loss) per share
available to common shareholders $ 1.12 $ 1.37 $ 1.63 $ 2.14
=============================================
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The information in this report (including the exhibit) shall not be deemed to be "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that Section. The information set forth in this report (including the exhibit) shall not be incorporated by reference into any registration statement or other document pursuant to the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such filing.
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