Arden Group, Inc. (Nasdaq:ARDNA) today released its sales and income figures for the third quarter ended September 29, 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 THIRD QUARTER EARNINGS RELEASE (UNAUDITED)|
|Thirteen Weeks Ended||Thirty-Nine Weeks Ended|
|September 29,||October 1,||September 29,||October 1,|
|(In Thousands, Except Share, Per Share & Footnote Data)|
|Interest, dividend and other income (expense), net||(c)||25||28||73||2,238|
|Income before income taxes||8,566||5,674||21,747||21,391|
|Income tax provision||3,491||2,313||8,861||8,717|
|Basic and diluted net income per common share||(d)||$||1.65||$||1.09||$||4.20||$||4.09|
|Basic and diluted weighted average common shares outstanding|
(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. On May 1, 2012, the Northridge store lease was assigned to a third party and Gelson’s was released from all obligations under the lease by the landlord. 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.
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