This Day On The Street
Continue to site right-arrow
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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Golden Enterprises Announces Quarterly And Annual Results

Stocks in this article: GLDC

Golden Enterprises, Inc.’s (NASDAQ: GLDC) Board of Directors today declared a quarterly dividend of $.03125 per share payable August 8, 2012 to stockholders of record on July 30, 2012.

Golden Enterprises, Inc.’s basic and diluted income for the thirteen weeks ended June 1, 2012 were $.04 compared to $.09 for the thirteen weeks ended June 3, 2011 on net sales of $35,280,087 versus $34,095,509, an increase of 3%.

For the 52 weeks ended June 1, 2012, net income was $.19 per share compared to $.26 per share in the 53 weeks ended June 3, 2011. Net sales were $136.1 million for the 52 weeks ended June 1, 2012 compared with $131.0 million for the 53 weeks ended June 3, 2011, an increase of 3.9%. When normalized to a 52 week comparison, current year sales would have shown an increase of 5.6% over the prior year sales.

Gross margins increased $1.9 million on manufacturing efficiency gains and the increase in sales overcoming a $2.8 million increase in commodity costs.

Selling, general and administrative expenses for the 52 weeks ended June 1, 2012 increased $3.2 million compared to the prior year. Much of this increase was attributed to selling related expenses including advertising, fuel costs, and other vehicle related expenses, as well as expenses associated with the implementation of the Company’s new enterprise resource planning system.

The following is a summary of net sales and income information.

           

Three Months Ended

   

Twelve Months Ended

 

Thirteen Weeks Ended

52 Weeks Ended 53 Weeks Ended
June 1, 2012     June 3, 2011     June 1, 2012     June 3, 2011
   
Net Sales $ 35,280,087 $ 34,095,509 $ 136,185,657 $ 131,047,850
 
Income before income taxes 1,139,366 1,833,340 3,945,849 5,109,267
Income taxes   676,359   855,347   1,738,226   2,094,499
Net income $ 463,007 $ 977,993 $ 2,207,623 $ 3,014,768
 

Basic and diluted income per share

$

0.04

$

0.09

$

0.19

$

0.26

 

Basic weighted shares outstanding

  11,734,632   11,734,632   11,734,632   11,735,893
 

Diluted weighted shares outstanding

  11,734,632   11,734,632   11,734,632   11,735,893
 

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 .



1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link 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

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, 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
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,624.95 -47.65 -0.27%
S&P 500 2,048.01 -3.81 -0.19%
NASDAQ 4,752.2660 -5.6130 -0.12%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs