Arden Group, Inc. (Nasdaq:ARDNA) today released its sales and income figures for the first quarter ended March 31, 2012.
Arden Group, Inc. is the parent company of Gelson’s Markets which currently operates 17 full-service supermarkets in Southern California carrying both perishable and grocery products.
ARDEN GROUP, INC. AND CONSOLIDATED SUBSIDIARIES
FIRST QUARTER EARNINGS RELEASE
Thirteen Weeks Ended (a)
March 31, 2012
April 2, 2011
|Interest, dividend and other income (expense), net||(d)||23,000||2,204,000|
|Income before income taxes||4,920,000||9,566,000|
|Income tax provision||2,004,000||3,897,000|
|Basic and diluted net income per common share||(e)||$||0.95||$||1.79|
|Basic and diluted weighted average common shares outstanding||(e)||3,071,000||3,161,098|
(a) In 2011, the Company operated 18 full-service supermarkets in Southern California through its wholly-owned subsidiary, Gelson’s Markets (Gelson’s). On February 25, 2012, Gelson’s closed its store located in Northridge, California. Gelson’s reached an agreement with the landlord and a third party to assign the Northridge store lease to the third party. Gelson’s was released by the landlord from all obligations under the lease on May 1, 2012. In return, Gelson’s paid the assignee a lease assignment fee of $1,850,000 during the second quarter of 2012 and transferred various items of equipment to the assignee.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
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
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts