Golden Enterprises Announces Quarterly Results
Golden Enterprises, Inc.’s (NASDAQ: GLDC) Board of Directors today declared a quarterly dividend of $.03125 per share payable October 27, 2010 to stockholders of record as of October 4, 2010.
Net sales for the first quarter was $31,956,084 compared to $32,592,162 for the same period last year. Despite this slight decrease in sales, basic and diluted earnings per share stayed consistent as compared to last year at $.09 during the first quarter. Operating income increased by nearly $90,000 versus the same period last year.
The Company was able to take advantage of capital investments from last year to create efficiencies in our manufacturing process. These efficiencies increased gross margin by more than $200,000 as gross margins as a percentage of sales grew from 49% to 51%.
While the Company is pleased with the first quarter’s results we will continue our mission of satisfying the expectations of our consumers, customers, employees, and shareholders, in all that we do each day!The following is a summary of net sales and income information for the thirteen weeks ended August 27, 2010 and August 28, 2009.
|THIRTEEN WEEKS ENDED|
|August 27,||August 28,|
|Income before income taxes||$||1,733,339||$||1,661,935|
|Basic and diluted earnings per share||$||.09||$||.09|
|Basic weighted shares outstanding||11,739,775||11,746,632|
|Diluted weighted shares outstanding||11,739,775||11,746,632|
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV