UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES ACT OF 1934
Date of Report (Date of earliest event reported) November 12, 2009
-------------------------------------------------------------------
AMCON DISTRIBUTING COMPANY
--------------------------
(Exact name of registrant as specified in its charter)
DELAWARE 1-15589 47-0702918
------------------------------------------------------------------------------
(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification No.)
incorporation)
7405 Irvington Road, Omaha, NE 68122
------------------------------------
(Address of principal executive offices) (Zip Code)
(402) 331-3727
--------------
(Registrant's telephone number, including area code)
Not Applicable
--------------
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:
Written communications pursuant to Rule 425 under the Securities Act (17
---- CFR 230.425)
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
---- 240.14a-12)
Pre-commencement communications pursuant to Rule 14d-2(b) under the
---- Exchange Act (17 CFR 240.14d-2(b))
Pre-commencement communications pursuant to Rule 13e-4(c) under the
---- Exchange Act (17 CFO 240.13e-4(c))
ITEM 2.02 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)
------------------------------------------------------------------------------------------
Fiscal Year 2009 First Second Third Fourth
------------------------------------------------------------------------------------------
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
=============================================
(Dollars in thousands, except per share data)
------------------------------------------------------------------------------------------
Fiscal Year 2008 First Second Third Fourth
------------------------------------------------------------------------------------------
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
=============================================
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.
SIGNATURE
Pursuant to the requirements of the Securities and Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
AMCON DISTRIBUTING COMPANY
(Registrant)
Date: November 12, 2009 By: Andrew C. Plummer
-------------------------
Name: Andrew C. Plummer
Title: Vice President &
Chief Financial Officer