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Arden Group, Inc. Announces Third Quarter Earnings

Arden Group, Inc. (Nasdaq:ARDNA) today released its sales and income figures for the third quarter ended October 2, 2010.

Arden Group, Inc. is the parent company of Gelson’s Markets which operates eighteen full-service supermarkets in Southern California carrying both perishable and grocery products.

     
ARDEN GROUP, INC. AND CONSOLIDATED SUBSIDIARIES
THIRD QUARTER EARNINGS RELEASE
(UNAUDITED)
 
Thirteen Weeks Ended Thirty-Nine Weeks Ended
October 2,  

October 3,

October 2,   October 3,

(In Thousands, Except Share, Per Share & Footnote Data)

2010 2009 2010 2009
 
Sales (a) $ 100,308 $ 103,754 $ 307,045 $ 320,452
 
Operating income (b) 5,756 7,821 20,968 25,436
 
Interest, dividend and other income (expense), net   67   57   180   170
 
Income before income taxes 5,823 7,878 21,148 25,606
 
Income tax provision   2,369   3,210   8,614   10,434
 
Net income $ 3,454 $ 4,668 $ 12,534 $ 15,172
 
Basic and diluted net income per common share $ 1.09 $ 1.48 $ 3.97 $ 4.80
 
Basic and diluted weighted average common shares outstanding 3,161,098 3,161,098 3,161,098 3,161,098
 

(a) Same store sales decreased 3.3% and 4.2% during the thirteen and thirty-nine weeks ended October 2, 2010, respectively, compared to the same periods of 2009. Sales continue to be negatively impacted by economic conditions and competition in our trade area.

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