Current Report Filing (8-k)
January 07 2016 - 12:50PM
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)
January 7, 2016
GOLDEN ENTERPRISES, INC.
(Exact name of registrant as specified in
its charter)
DELAWARE |
0-4339 |
63-0250005 |
(State or other jurisdiction of |
(Commission File Number) |
(IRS Employer ID No.) |
incorporation) |
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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) |
| ¨ | Soliciting material pursuant to Rule 14a-12 under the
Exchange Act (17 CFR 240.14a-12) |
| ¨ | Pre-commencement communications pursuant to Rule 14d-2(b)
under the Exchange Act (17CFR 240.14d-2(b)) |
| ¨ | Pre-commencement communications pursuant to Rule 13e-4(c)
under the Exchange Act (17CFR 240.13e-4(c)) |
On January 7, 2016 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 |
(c) Exhibits.
Exhibit No. |
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Description |
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99.1 |
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Press Release dated January 7, 2016 |
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: January 7, 2016 |
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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 |
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Exhibit Index
Exhibit No. |
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Description |
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99.1 |
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Press Release dated January 7, 2016 |
Golden Enterprises Announces Quarterly Results
BIRMINGHAM, Ala., Jan. 7, 2016 /PRNewswire/ -- Golden Enterprises Inc.'s (Nasdaq: GLDC) Board of Directors today declared a quarterly dividend of $.03375 per share payable January 27, 2016 to stockholders of record on January 18, 2016.
Golden Enterprises Inc.'s total revenues for the second quarter ending November 27, 2015 was $32 million compared to $32 million last year. Net income increased $558,824, $.05 compared to $.00, an increase of $.05 EPS. Selling, general, and administrative expenses decreased $364,016 compared to the same period last year. Favorable fuel cost, reduction in cost associated with our fleet, and efficiencies from our ERP System contributed to the reduction in SG&A.
Operating income increased $893,478 during the second quarter 2016 compared to the same period last year. Significant improvements in margins contributed to the increase in operating income.
For the twenty-six weeks ended November 27, 2015, net income per share was $.13 per share compared to $.07 per share in the twenty-six weeks ending November 28, 2014. Total revenues year-to-date were $66 million compared to $66 million last year.
The following is a summary of net sales and income information for the thirteen weeks and twenty-six weeks ended November 27, 2015 and November 28, 2014.
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| Thirteen Weeks Ended |
| Twenty-Six Weeks Ended |
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| November 27, |
| November 28, |
| November 27, |
| November 28, |
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| 2015 |
| 2014 |
| 2015 |
| 2014 |
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Net sales | $ | 31,998,047 | $ | 32,029,326 | $ | 65,730,188 | $ | 66,154,362 |
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Income before income taxes |
| 986,656 |
| 88,996 |
| 2,435,291 |
| 1,306,781 |
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Income taxes |
| 387,105 |
| 48,269 |
| 946,142 |
| 498,828 |
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Net income | $ | 599,551 | $ | 40,727 | $ | 1,489,149 | $ | 807,953 |
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Basic and diluted earnings per share | $ | 0.05 | $ | 0.00 | $ | 0.13 | $ | 0.07 |
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Basic and diluted weighted shares outstanding |
| 11,291,757 |
| 11,732,632 |
| 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 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.
Logo - http://photos.prnewswire.com/prnh/20150901/262827LOGO
CONTACT: CFO, Patty Townsend, 205-458-7132
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