|ARDEN GROUP, INC. AND CONSOLIDATED SUBSIDIARIES FOURTH QUARTER EARNINGS RELEASE|
|Thirteen Weeks Ended||Fifty-Two Weeks Ended|
|December 31,||January 1,||December 31,||January 1,|
|(In Thousands, Except Share, Per Share & Footnote Data)||(Unaudited)|
|Interest, dividend and other income (expense), net||(c)||63||8||2,301||188|
|Income before income taxes||7,032||9,183||28,423||30,331|
|Income tax provision||2,701||3,632||11,418||12,246|
|Basic and diluted net income per common share||(d)||$||1.41||$||1.75||$||5.50||$||5.72|
|Weighted average common shares outstanding||(d)||3,071,000||3,161,098||3,094,020||3,161,098|
Arden Group, Inc. (Nasdaq:ARDNA) today released its sales and income figures for the fourth quarter and fiscal year ended December 31, 2011. Arden Group, Inc. is the parent company of Gelson’s Markets which operates seventeen full-service supermarkets in Southern California carrying both perishable and grocery products.
(a) In 2011 and 2010, the Company operated 18 full-service supermarkets in Southern California through its wholly-owned subsidiary, Gelson’s Markets (Gelson’s). Year over year sales increases were due, to a great extent, to both inflation and an increase in the number of transactions in 2011 compared to 2010. Increased sales also reflect improvement in the economic environment in our local trade areas despite intense competition and cautious consumer purchasing behavior.