Current Report Filing (8-k)
September 17 2015 - 12:05PM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934
Date of Report (Date of earliest event reported)
September 17, 2015
GOLDEN ENTERPRISES, INC.
(Exact name of registrant as specified in
its charter)
| DELAWARE |
0-4339 |
63-0250005 |
| (State or other jurisdiction of incorporation) |
(Commission File Number) |
(IRS Employer ID No.) |
| One Golden Flake Drive, Birmingham, Alabama |
35205 |
| (Address of principal executive offices) |
(Zip Code) |
Registrant's telephone number, including
area code: (205) 458-7316
N/A
(Former name or former address, if changed
since last report)
Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| ¨ |
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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| ¨ |
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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| ¨ |
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17CFR 240.14d-2(b)) |
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| ¨ |
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17CFR 240.13e-4(c)) |
On September 17, 2015 the Company issued
a press release, a copy of which is included with this Report as Exhibit 99.1.
| Item 9.01 |
Financial Statements and Exhibits |
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Exhibit No. |
Description |
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99.1 |
Press Release dated September 17, 2015 |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act
of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Dated: September 17, 2015
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GOLDEN ENTERPRISES, INC. |
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By: |
/s/ Patty Townsend |
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Patty Townsend |
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Vice President, CFO & Secretary |
Exhibit Index
| Exhibit No. |
Description |
| |
|
| 99.1 |
Press Release dated September 17, 2015 |
Exhibit 99.1
Golden Enterprises Announces Quarterly Results
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 |
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Income before income taxes | $ | 1,448,635 | $ | 1,217,785 |
Income taxes |
| 559,037 |
| 450,559 |
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Net income | $ | 889,598 | $ | 767,226 |
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Basic and diluted earnings per share | $ | .08 | $ | .07 |
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Basic and diluted weighted shares outstanding |
| 11,291,757 |
| 11,732,632 |
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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.
Logo- http://photos.prnewswire.com/prnh/20150901/262827LOGO
CONTACT: Patty Townsend, 205-458-7132
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