Golden Enterprises Announces Quarterly Results

  Golden Enterprises Announces Quarterly Results

Business Wire

BIRMINGHAM, Ala. -- January 10, 2013

Golden Enterprises, Inc.’s (NASDAQ: GLDC) Board of Directors today declared a
quarterly dividend of $.0313 per share payable January 30, 2013 to
stockholders of record on January 21, 2013.

Golden Enterprises, Inc.’s basic and diluted income per share for the thirteen
weeks ended November 30, 2012 was $.04, unchanged from the thirteen weeks
ended December 02, 2011. Net sales for the quarter were basically even at
$33,208,620 compared to the same quarter of 2011.

For the twenty-six weeks ended November 30, 2012 total net sales were
$67,892,075, up 2% compared to the same period last year. Basic and diluted
income per share was $.10 for the twenty-six week periods ending November 30,
2012 and December 2, 2011.

The following is a summary of net sales and income information for the
thirteen weeks and twenty-six weeks ended November 30, 2012 and December 02,
2011.

              Thirteen Weeks Ended            Twenty-Six Weeks Ended
                November 30,   December 2,    November 30,   December 2,
                2012           2011           2012           2011
Net sales       $ 33,208,620     $ 33,230,663     $ 67,892,075     $ 66,475,853
                                                                   
Income
before            894,992          727,972          2,069,294        1,846,799
income
taxes
Income           452,735         275,887         959,901         695,143
taxes
Net income      $ 442,257        $ 452,085        $ 1,112,393      $ 1,151,656
                                                                   
Basic and
diluted         $ 0.04           $ 0.04           $ 0.10           $ 0.10
income per
share
                                                                   
Basic and
diluted
weighted         11,734,061      11,734,632      11,734,346      11,734,632
shares
outstanding
                                                                     

This News Release contains certain forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995. Actual
results could differ materially from those forward-looking statements. Factors
that may cause actual results to differ materially include price competition,
industry consolidation, raw material costs and effectiveness of sales and
marketing activities, as described in the Company’s filings with the
Securities and Exchange Commission.

Contact:

Golden Enterprises, Inc.
Patty Townsend, 205-458-7132
 
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