Amcon Distributing Company (DIT) 2018年年度报告「NYSE」.pdf

1、Chamberlins Lakeland,Florida Bismarck,North Dakota Crossville,Tennessee Omaha,Nebraska Quincy,Illinois Rapid City,South Dakota Springfield,MissouriOUR FOOTPRINTAMCON Warehouse LocationsAkinsChamberlinsEarth Origins MarketAMCON Warehouse Locations&Akins Altamonte Springs,Florida Kissimmee,Florida Lak

2、eland,Florida(2)Orlando,Florida Oviedo,Florida East Orlando,Florida Oklahoma City,Oklahoma(2)Rogers,Arkansas Springfield,Missouri Tulsa,Oklahoma(3)Lake Mary,Florida Palm Harbor,Florida Port Charlotte,Florida Sarasota,Florida(2)Ocala,Florida Gainesville,Florida St.Petersburg,FloridaLETTER TO OUR SHAR

3、EHOLDERSLADIES AND GENTLEMEN,We are pleased to report earnings of$3.6 million,or$5.38 per diluted common share for the fiscal year ended September 30,2018.Our adjusted shareholders equity per share rose to$102.85.AMCONs management team and associates achieved these financial measures by implementing

4、 a focused strategic plan centered on short,medium,and long-term objectives.The overall objective of our strategic plan is to increase shareholder value over the long term in a conservative,low risk fashion.SHORT TERM In the short term,which we define as up to six months,our strategic objective is t

5、o maximize balance sheet liquidity.Working capital management is a core competency of AMCON.Our management team believes this expertise is a critical element of success in the distribution industry.The highly liquid posture we maintain supports our commitment to excellence in customer service operat

6、ions,logistics,financial reporting,and cash management.The wholesale and retail businesses in which we operate require tens of thousands of inventory SKUs;and require careful management attention to detail on a continuous basis.We turned our inventory 19 times in fiscal 2018 while maintaining high l