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AMCON Distributing fiscal Q2 profit climbs 50.5% YOY

AMCON Distributing Co. said its normalized net income for the fiscal second quarter ended March 31 amounted to $1.27 per share, an increase of 50.6% from 84 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $936,460, an increase of 50.5% from $622,050 in the prior-year period.

The normalized profit margin rose to 0.5% from 0.3% in the year-earlier period.

Total revenue grew 7.1% on an annual basis to $200.0 million from $186.7 million, and total operating expenses rose 6.9% year over year to $198.4 million from $185.5 million.

Reported net income increased 44.8% from the prior-year period to $769,330, or $1.04 per share, from $531,290, or 72 cents per share.