Golden Enterprises Announces Quarterly Results

  Golden Enterprises Announces Quarterly Results

Business Wire

BIRMINGHAM, Ala. -- April 4, 2013

Golden Enterprises, Inc.’s (NASDAQ: GLDC) Board of Directors today declared a
quarterly dividend of $.0313 per share payable April 25, 2013 to stockholders
of record on April 15, 2013.

Golden Enterprises, Inc.’s net income per share for the thirteen weeks ended
March 1, 2013 was $.04 compared to $.05 for the thirteen weeks ended March 2,
2012.

Net sales decreased 2% for the current quarter, and were $33,641,238 versus
$34,429,717 for the same period last year.

In an effort to grow brand business the Company made a strategic decision to
invest R&D dollars into development of the Crinkle Fries during the third
quarter. In addition, the Company also discontinued several partner brands
that did not reach sales and margins expectations.

For the thirty-nine weeks ended March 1, 2013, net income per share was $.14
compared to $.15 for the same period last year. Total net sales were
$101,533,313 this year compared to $100,905,570, an increase of $627,743.

As we expand our manufactured product portfolio, we will continue to drive
efficiencies and productivity throughout our company.

The following is a summary of net sales and income information for the
thirteen weeks and thirty-nine weeks ended March 1, 2013 and March 02, 2012.

                                                   
                    Thirteen Weeks Ended              Thirty-Nine Weeks Ended
                    March 1,        March 2,           March 1,         March 2,
                    2013           2012           2013            2012
Net sales       $   33,641,238     $   34,429,717     $   101,533,313     $   100,905,570
                                                                              
Income
before              850,400            959,684            2,919,694           2,806,483
income
taxes
Income              378,012            366,724            1,334,913           1,061,867
taxes
Net income      $   472,388        $   592,960        $   1,584,781       $   1,744,616
                                                                              
Basic and
diluted         $   0.04           $   0.05           $   0.14            $   0.15
income per
share
                                                                              
Basic and
diluted
weighted            11,732,632         11,734,632         11,733,775          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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