-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, QQa/3f//ZGSPyX+r035x494sFGFcC9u64VzEut1XUknftQGtjzdP3xXqVMh6x0tE pUKwTFoqWCFBeevZ2ESxRg== 0000037914-04-000004.txt : 20040129 0000037914-04-000004.hdr.sgml : 20040129 20040129151708 ACCESSION NUMBER: 0000037914-04-000004 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20031101 ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20040129 FILER: COMPANY DATA: COMPANY CONFORMED NAME: FOODARAMA SUPERMARKETS INC CENTRAL INDEX KEY: 0000037914 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-GROCERY STORES [5411] IRS NUMBER: 210717108 STATE OF INCORPORATION: NJ FISCAL YEAR END: 1102 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-05745 FILM NUMBER: 04552243 BUSINESS ADDRESS: STREET 1: 922 HIGHWAY 33 STREET 2: BLDG 6 CITY: FREEHOLD STATE: NJ ZIP: 07728 BUSINESS PHONE: 7324624700 MAIL ADDRESS: STREET 1: 922 HIGHWAY 33 STREET 2: BLDG 6 CITY: FREEHOLD STATE: NJ ZIP: 07728 8-K 1 p8k2003104.txt 8-K 2003 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 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 28, 2004 FOODARAMA SUPERMARKETS, INC. - -------------------------------------------------------------------------------- (Exact name of registrant as specified in charter) New Jersey 1-5745-1 21-0717108 - -------------------------------------------------------------------------------- (State or other jurisdiction (Commission (IRS Employer of incorporation) File Number) Identification No.) Building 6, Suite 1, 922 Highway 33, Freehold, New Jersey 07728 - --------------------------------------------------------------- (Address of principal executive offices) (Zip code) Registrant's telephone number,including area code:(732)462-4700 Item 7. Financial Statements and Exhibits --------------------------------- (c) Exhibits Exhibit No. Description ----------- ----------- 99.1 Press Release, dated January 28, 2004, of Foodarama Supermarkets, Inc. Re: Consolidated Financial Results Item 12. Results of Operations and Financial Condition On January 28, 2004, Foodarama Supermarkets, Inc. issued a press release announcing its consolidated financial results for its fourth quarter and year ended November 1, 2003. A copy of the press release is furnished as Exhibit 99.1 to this current report. The information furnished under Item 12 of this current report, including Exhibit 99.1 hereto, shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), nor shall it be deemed incorporated by reference in any document filed under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing. SIGNATURES 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. FOODARAMA SUPERMARKETS, INC. ---------------------------- (REGISTRANT) By: /S/ Michael Shapiro -------------------- Michael Shapiro Senior Vice President Chief Financial Officer Date: January 28, 2004 EXHIBIT 99.1 Foodarama Supermarkets, Inc. Building 6, Suite 1 922 Highway 33 Freehold, N.J. 07728 CONTACT: Michael Shapiro Senior Vice President Chief Financial Officer (732) 294-2270 FOR IMMEDIATE RELEASE FOODARAMA SUPERMARKETS, INC. REPORTS FOURTH QUARTER AND YEAR END RESULTS Freehold, N.J., January 28, 2004 -- Foodarama Supermarkets, Inc. (ASE-FSM) today announced that sales for the 13 weeks ended November 1, 2003 totaled $266,651,000, compared to $234,804,000 in the prior year period. Same store sales from the twenty stores operated in both periods increased 3.5% period to period. Sales for the current quarter included the operations of new locations in Woodbridge, Ewing, North Brunswick and Hamilton, New Jersey opened in December 2002, January 2003, May 2003, and October 2003, respectively. The location in Woodbridge replaced an older, smaller location in the same shopping center and the location in North Brunswick replaced an older, smaller store in Franklin Township, New Jersey. In the current quarter net income was $1,230,000 or $1.22 per diluted share. The Company's earnings before interest, taxes, depreciation and amortization ("EBITDA") for the fourth quarter ended November 1, 2003 were $10,333,000. For the thirteen weeks ended November 2, 2002 net income was $587,000 or $.57 per diluted share. The Company's EBITDA for the fourth quarter ended November 2, 2002 were $6,880,000. Sales for the 52 weeks ended November 1, 2003 were $1,049,653,000 compared to $963,611,000 in the prior year period. Same store sales increased 1.5% period to period. Sales for the current 52 week period included the operations of the new Middletown, Woodbridge, Ewing, North Brunswick and Hamilton, New Jersey locations. The Middletown store opened on November 14, 2001. For the 52 weeks ended November 1, 2003 the Company reported net income of $2,283,000 or $2.26 per diluted share. The Company's EBITDA for fiscal 2003 were $33,636,000. For the 52 weeks ended November 2, 2002 net income was $3,240,000 or $3.01 per diluted share. The Company's EBITDA for fiscal 2002 were $28,076,000. EBITDA is presented because management believes that EBITDA is a useful supplement to net income and other measurements under accounting principles generally accepted in the United States since it is a meaningful measure of a company's performance and ability to meet its future debt service requirements, fund capital expenditures and meet working capital requirements. EBITDA is not a measure of financial performance under accounting principles generally accepted in the United States and should not be considered as an alternative to (i) net income (or any other measure of performance under generally accepted accounting principles) as a measure of performance or (ii) cash flows from operating, investing or financing activities as an indicator of cash flows or as a measure of liquidity. The following table reconciles reported net income to EBITDA: Thirteen Weeks Ended Fifty Two Weeks Ended -------------------- --------------------- November November November November 1, 2003 2, 2002 1, 2003 2, 2002 -------- -------- -------- -------- Net income $ 1,230,000 $ 587,000 $ 2,283,000 $ 3,240,000 Add: Interest expense, net 3,630,000 2,092,000 12,260,000 8,036,000 Income tax provision 820,000 392,000 1,522,000 2,162,000 Depreciation 4,483,000 3,679,000 17,096,000 14,175,000 Amortization 170,000 130,000 475,000 463,000 ----------- ----------- ----------- ----------- EBITDA $10,333,000 6,880,000 $33,636,000 $28,076,000 =========== =========== =========== =========== FOODARAMA SUPERMARKETS, INC. AND SUBSIDIARIES Consolidated Operating Highlights For the 13 Weeks Ended November 1, 2003 November 2, 2002 - ------------------------ ---------------- ---------------- (unaudited) (unaudited) Sales................................ $ 266,651,000 $ 234,804,000 Net income .......................... 1,230,000 587,000 Net income per diluted share......... $1.22 $.57 Average shares outstanding........... 1,011,493 1,026,381 EBITDA............................... $ 10,333,000 $ 6,880,000 For the Year Ended November 1, 2003 November 2, 2002 ---------------- ---------------- (audited) (audited) Sales................................ $ 1,049,653,000 $ 963,611,000 Net income........................... 2,283,000 3,240,000 Net income per diluted share......... $2.26 $3.01 Average shares outstanding........... 1,011,350 1,076,030 EBITDA............................... $ 33,636,000 $ 28,076,000 -----END PRIVACY-ENHANCED MESSAGE-----