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Arden Group, Inc. Announces Fourth Quarter And Fiscal Year Earnings

Arden Group, Inc. (Nasdaq:ARDNA) today released its sales and income figures for the fourth quarter and fiscal year ended December 31, 2011.

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

ARDEN GROUP, INC. AND CONSOLIDATED SUBSIDIARIES

FOURTH QUARTER EARNINGS RELEASE

           
 

Thirteen Weeks Ended

Fifty-Two Weeks Ended

December 31,

January 1,

December 31,

January 1,

2011

2011

2011

2011

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

(Unaudited)

       
 
Sales (a) $ 114,503 $ 110,020 $ 429,483 $ 417,065
 
Operating income (b) 6,969 9,175 26,122 30,143
 
Interest, dividend and other income (expense), net (c) 63 8 2,301 188
 
Income before income taxes 7,032 9,183 28,423 30,331
 
Income tax provision 2,701 3,632 11,418 12,246
 
Net income $ 4,331 $ 5,551 $ 17,005 $ 18,085
 
Basic and diluted net income per common share (d) $ 1.41 $ 1.75 $ 5.50 $ 5.72
Weighted average common shares outstanding (d) 3,071,000 3,161,098 3,094,020 3,161,098
 

(a) In 2011 and 2010, the Company operated 18 full-service supermarkets in Southern California through its wholly-owned subsidiary, Gelson’s Markets (Gelson’s). Year over year sales increases were due, to a great extent, to both inflation and an increase in the number of transactions in 2011 compared to 2010. Increased sales also reflect improvement in the economic environment in our local trade areas despite intense competition and cautious consumer purchasing behavior.

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