This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Golden Enterprises Announces Quarterly Results

Golden Enterprises, Inc.’s (NASDAQ: GLDC) Board of Directors today declared a quarterly dividend of $.03125 per share payable April 25, 2012 to stockholders of record on April 16, 2012.

Golden Enterprises, Inc.’s basic and diluted income per share for the thirteen weeks ended March 2, 2012 were $.05 compared to $.03 for the fourteen weeks ended March 4, 2011.

Net sales increased 1% for the current quarter, and were $34,429,717 versus $34,085,864 for the same period last year. This year’s third quarter included thirteen weeks of snack food sales and costs compared to a fourteen week quarter last year. Without the extra week from the prior year, net sales would have increased 8%. The company continues to see an increase in sales due to new product offerings and the company’s expansion into new geographic markets.

For the thirty-nine weeks ended March 2, 2012, basic and diluted income per share were $.15 compared to $.17 for the forty weeks ended March 4, 2011. Total net sales were $100,905,570 this year compared to $96,952,341 last year, an increase of 4%. Golden Enterprises would have seen a 7% increase if the prior year did not have an extra week.

Basic and diluted income per share through thirty-nine weeks was .02 lower than prior year to date income last year, however Golden Enterprises is pleased to see that income per share for this Quarter was .02 higher than the prior year indicating that the company was able to absorb increased commodity and fuel costs while managing other selling, general and administrative expenses. Golden Enterprises will continue to pursue cost saving methods to benefit shareholders while still providing quality snacks to our customers.

The following is a summary of net sales and income information for the thirteen and thirty-nine weeks ended March 2, 2012 and the fourteen weeks and forty weeks ended March 4, 2011.
    Thirteen     Fourteen     Thirty-Nine     Forty
Weeks Ended Weeks Ended Weeks Ended Weeks Ended
March 2, March 4, March 2, March 4,
2012 2011 2012 2011
Net Sales $ 34,429,717 $ 34,085,864 $ 100,905,570 $ 96,952,341
 
Income (loss) before income taxes 959,684 669,968 2,806,483 3,275,927
Income taxes   366,724   254,993   1,061,867   1,239,152
 
Net income (loss) $ 592,960 $ 414,975 $ 1,744,616 $ 2,036,775
 

Basic and diluted income per share

$

0.05

$

0.03

$

0.15

$

0.17
 

Basic and diluted weighted shares outstanding
  11,734,632   11,734,632   11,734,632   11,736,303
 

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 .

Copyright Business Wire 2010

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 16,478.85 +127.47 0.78%
S&P 500 1,965.82 +16.96 0.87%
NASDAQ 4,777.2360 +27.2570 0.57%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs