Golden Enterprises Announces Quarterly Results
September 18 2014 - 11:36AM
Business Wire
Golden Enterprises, Inc.’s Board of Directors today declared a
quarterly dividend of $.03125 per share payable October 29, 2014 to
stockholders of record as of October 6, 2014.
Golden Enterprises, Inc. saw a 3% decrease in Net sales from the
first quarter of 2014 to the first quarter of 2015. Net sales for
the first quarter were $34,125,036 compared to $35,141,838. Selling
general and administrative costs decreased $228,099 during the
first quarter which reflected the impact of the restructuring which
occurred in 2014 fiscal year. The Company completed the sale of
extra property in Decatur, Georgia for a gain of $229,044 in the
first quarter 2015.
Net income per share for the quarter ended August 29, 2014 was
$767,226 or $.07 compared to $771,528 or $.07 last year for the
same time period.
The following is a summary of net sales and income information
for the thirteen weeks ended August 29, 2014 and August 30,
2013:
THIRTEEN WEEKS ENDED August 29, August 30,
2014 2013 Net sales $ 34,125,036 $ 35,141,838
Income before income taxes $ 1,217,785 $ 1,379,049 Income taxes
450,559 607,521 Net income $ 767,226 $ 771,528 Basic
earnings per share $ .07 $ .07 Basic weighted shares
outstanding 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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