Golden Enterprises Announces Quarterly and Annual Results

Golden Enterprises, Inc.’s Board of Directors today declared a quarterly dividend of $.03125 per share payable August 5, 2015 to stockholders of record on July 27, 2015.

Golden Enterprises, Inc.’s basic and diluted income for the thirteen weeks ended May 29, 2015 were $.06 net income compared to $.06 for the thirteen weeks ended May 30, 2014 on net sales of $34,048,700 versus $35,127,812.

For the 52 weeks ended May 29, 2015, net income was $.15 per share compared to $ .08 per share in the 52 weeks ended May 30, 2014. Increased income per share of $.07 this year ($.02 net of restructure charges last year), were achieved through improvements in manufacturing margins and mix, as well as improved efficiencies in selling and delivery.

Fiscal year 2015 was a year of strategic improvements. Operational income increased $316,545, while net income increased $184,739 without restructuring charge over prior year.

As we continue to develop and expand our manufactured product portfolio, and invest in our operations, we are positioned to grow our sales through effective and efficient product offerings to our consumers.

The following is a summary of net sales and income information.

Three Months Ended

Twelve Months Ended

 

Thirteen Weeks Ended

        
        
        
        
        
        
          52 Weeks Ended
        
        
           
        
        
          52 Weeks Ended
        
      
      
        
           
        
        
        
        
          May 29, 2015
        
        
           
        
        
           
        
        
          May 30, 2014
        
        
        
        
           
        
        
          May 29, 2015
        
        
           
        
        
           
        
        
        
        
          May 30, 2014
        
      
      
        
        
        
        
        
        
        
        
        
           
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
      
      
        
          Net Sales
        
        
        
        
        
        
          $
        
        
          34,048,700
        
        
        
        
        
        
          $
        
        
          35,127,812
        
        
        
        
        
        
          $
        
        
          131,724,721
        
        
        
        
        
        
        
        
          $
        
        
          135,896,895
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
          Income before income taxes
        
        
        
        
        
        
        
        
          1,090,834
        
        
        
        
        
        
        
        
          1,013,261
        
        
        
        
        
        
        
        
          3,066,430
        
        
        
        
        
        
        
        
        
        
          1,593,888
        
      
      
        
          Income taxes
        
        
        
        
        
        
           
        
        
          

397,469

328,303

1,292,589

672,059

        
      
      
        
          Net income
        
        
        
        
        
        
        
        
          693,365
        
        
        
        
        
        
        
        
          684,958
        
        
        
        
        
        
        
        
          1,773,841
        
        
        
        
        
        
        
        
        
        
          921,829
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
          

Basic and diluted income per share

$

0.06

$

0.06

$

0.15

$

0.08

Basic weighted shares outstanding

11,291,757

11,732,632

11,552,164

11,732,632

 

Diluted weighted shares outstanding

11,321,992

11,732,632

11,582,399

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.

View source version on businesswire.com: http://www.businesswire.com/news/home/20150716006108/en/

Golden Enterprises, Inc.Patty Townsend, 205-458-7132