BIRMINGHAM, Ala., Sept. 17, 2015 /PRNewswire/ -- Golden
Enterprises Inc.'s (Nasdaq: GLDC) Board of Directors today declared
a quarterly dividend of $.03375 per
share payable October 28, 2015 to
stockholders of record as of October 5,
2015. The quarterly dividend was increased 8% from
$.03125 the previous quarter.
The Board of Directors will continue to review the dividend amount
every quarter.
Golden Enterprises saw a 1.15% decrease in Net Sales in the
first quarter of 2016 as compared to the first quarter of
2015. Net sales for the quarter were $33,732,141 compared to $34,125,036.
Selling, general, and administrative expenses decreased
$373,438 or 2.33% during the first
quarter which reflected favorable fuel cost and efficiencies gained
from the new ERP system.
Operating income increased 40% or $440,988 during the first quarter of 2016
compared to the same period last year. The strategic decision
to grow brand business while discontinuing several partner brands
that did not reach sales and margin expectations continues to
positively impact operating income.
Basic and diluted net income per share for the quarter ended
August 28, 2015 was $.08 compared to $.07 or $.01
increase per share. Last year's net income per share included
the sale of the Decatur, Georgia
warehouse which had an impact of $.02
after tax per share.
The following is a summary of net sales and income information
for the thirteen weeks ended August 28, 2015 and August
29, 2014:
|
|
THIRTEEN WEEKS
ENDED
|
|
|
August 28,
|
|
August 29,
|
|
|
2015
|
|
2014
|
|
Net sales
|
$
|
33,732,141
|
$
|
34,125,036
|
|
|
|
|
|
|
Income before income
taxes
|
$
|
1,448,635
|
$
|
1,217,785
|
|
Income
taxes
|
|
559,037
|
|
450,559
|
|
|
|
|
|
|
Net income
|
$
|
889,598
|
$
|
767,226
|
|
|
|
|
|
|
Basic and diluted
earnings per share
|
$
|
.08
|
$
|
.07
|
|
|
|
|
|
|
Basic and diluted
weighted shares outstanding
|
|
11,291,757
|
|
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 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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SOURCE Golden Enterprises Inc.