Golden Enterprises Announces Quarterly Results
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,
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
before 850,400 959,684 2,919,694 2,806,483
Income 378,012 366,724 1,334,913 1,061,867
Net income $ 472,388 $ 592,960 $ 1,584,781 $ 1,744,616
diluted $ 0.04 $ 0.05 $ 0.14 $ 0.15
weighted 11,732,632 11,734,632 11,733,775 11,734,632
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.
Golden Enterprises, Inc.
Patty Townsend, 205-458-7132
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