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Golden Enterprises Announces Quarterly Results

Golden Enterprises, Inc.’s (NASDAQ: GLDC) Board of Directors today declared a quarterly dividend of $.0313 per share payable January 30, 2013 to stockholders of record on January 21, 2013.

Golden Enterprises, Inc.’s basic and diluted income per share for the thirteen weeks ended November 30, 2012 was $.04, unchanged from the thirteen weeks ended December 02, 2011. Net sales for the quarter were basically even at $33,208,620 compared to the same quarter of 2011.

For the twenty-six weeks ended November 30, 2012 total net sales were $67,892,075, up 2% compared to the same period last year. Basic and diluted income per share was $.10 for the twenty-six week periods ending November 30, 2012 and December 2, 2011.

The following is a summary of net sales and income information for the thirteen weeks and twenty-six weeks ended November 30, 2012 and December 02, 2011.

    Thirteen Weeks Ended     Twenty-Six Weeks Ended
November 30,     December 2,     November 30,     December 2,
2012     2011     2012     2011
Net sales $ 33,208,620 $ 33,230,663 $ 67,892,075 $ 66,475,853
 
Income before income taxes 894,992 727,972 2,069,294 1,846,799
Income taxes   452,735   275,887   959,901   695,143
Net income $ 442,257 $ 452,085 $ 1,112,393 $ 1,151,656
 

Basic and diluted income per share

$ 0.04 $ 0.04 $ 0.10 $ 0.10
 

Basic and diluted weighted shares outstanding

  11,734,061   11,734,632   11,734,346   11,734,632
 

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.

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