Golden Enterprises Announces Quarterly Results
09 January 2015 - 4:11AM
Business Wire
Golden Enterprises, Inc.’s Board of Directors today declared a
quarterly dividend of $.03125 per share payable January 28, 2015 to
stockholders of record on January 19, 2015.
Golden Enterprises, Inc.’s total revenue for the second quarter
ending November 28, 2014 was $32.0 million compared to $33.5
million last year, a decrease of 4%. Net income increased $14,531
with a flat EPS performance in Q2. Selling, general, and
administrative expenses decreased $345,561 compared to the same
period last year. Reduction in fuel and salary costs contributed to
the total SG&A reduction.
For the twenty-six weeks ended November 28, 2014, net income was
$.07 per share compared to $.07 per share in the twenty-six weeks
ending November 29, 2013. Total revenues year-to-date decreased
$2.5 million or 4%, $66.2 million compared to $68.6 million last
year.
Revenues were negatively impacted by a loss in part by contract
business that was not renewed. The Company will focus on increasing
profitable revenues through the Golden Flake manufactured product
portfolio, while evaluating our selection of Partner Brands.
The following is a summary of net sales and income information
for the thirteen weeks and twenty-six weeks ended November 28, 2014
and November 29, 2013.
Thirteen Weeks Ended Twenty-Six Weeks Ended
November 28, November 29, November 28, November 29,
2014 2013 2014 2013 Net
sales $ 32,029,326 $ 33,486,323 $ 66,154,362 $ 68,628,161
Income before income taxes 88,996 108,206 1,306,781 1,487,255
Income taxes
48,269 82,010
498,828 689,531 Net income $ 40,727 $
26,196 $ 807,953 $ 797,724 Basic income per share $
0.00 $
0.00 $
0.07 $
0.07
Basic weighted shares outstanding
11,732,632 11,732,632
11,732,632 11,732,632
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.
Golden Enterprises, Inc.Patty Townsend, 205-458-7132
Golden Enterprises, Inc. (MM) (NASDAQ:GLDC)
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