-----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, OkPCI1dnd8K5v7EzjnajUyAlC/vOo6cs9kqObPWoTKMXFIUtkmJXFdYamrmBrg54 XvaDQ3v02yv+Zfyu2++Pzg== 0000037914-05-000020.txt : 20050914 0000037914-05-000020.hdr.sgml : 20050914 20050914142220 ACCESSION NUMBER: 0000037914-05-000020 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20050730 ITEM INFORMATION: Results of Operations and Financial Condition FILED AS OF DATE: 20050914 DATE AS OF CHANGE: 20050914 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: 051084158 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 FORMER COMPANY: FORMER CONFORMED NAME: FOODARAMA SUPERMARKETS INC DATE OF NAME CHANGE: 19920703 8-K 1 p8k091405.txt 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): September 12, 2005 ------------------ 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 Not Applicable - ---------------------------------------------------------------------------- (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 (see General Instruction A.2. below): [ ] 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 (17 CFR 240.14d-2(b)) [ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Section 2-Financial Information - ------------------------------- Item 2.02. Results of Operations and Financial Condition. - --------------------------------------------------------- On September 12, 2005 Foodarama Supermarkets, Inc. issued a press release announcing its consolidated financial results for its third quarter ended July 30, 2005. A copy of the press release is furnished as Exhibit 99.1 to this current report. The information furnished under Item 2.02 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"), or otherwise subject to the liabilities of that section, 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. Section 9-Financial Statements and Exhibits - ------------------------------------------- Item 9.01. Financial Statements and Exhibits. - -------------------------------------------- (c)Exhibits: Exhibit No. Description - ---------- ----------- 99.1 Press Release, dated September 12, 2005, of Foodarama Supermarkets, Inc. Re: Consolidated Financial Results 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: September 14, 2005 EXHIBIT INDEX Exhibit No. Description - ---------- ----------- 99.1 Press Release, dated September 12, 2005, of Foodarama Supermarkets, Inc. Re: Consolidated Financial Results 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 THIRD QUARTER AND NINE MONTHS RESULTS Freehold, N.J., September 12, 2005 -- Foodarama Supermarkets, Inc. (ASE-FSM) today announced that sales for the 13 weeks ended July 30, 2005 totaled $304,462,000, compared to $302,799,000 in the prior year period. Same store sales from the twenty four stores operated in both periods decreased 1.0% period to period. The decrease was primarily due to the effect of competitive store openings and the impact from the opening of a new Foodarama location on several of its existing stores, partially offset by comparable store sales increases in locations not affected by competitive openings. Sales for the current quarter included the operations of new locations in Aberdeen, New Jersey opened in May 2004 as well as the location in Bordentown, New Jersey purchased from Wakefern Food Corporation in June 2004. The location in Aberdeen replaced an older, smaller store in the same location. In the current quarter net income was $553,000 or $.54 per diluted share. The Company's earnings before interest, taxes, depreciation and amortization ("EBITDA") for the third quarter ended July 30, 2005 were $11,196,000. For the thirteen weeks ended July 31, 2004 net income was $496,000 or $.48 per diluted share. The Company's EBITDA for the third quarter ended July 31, 2004 were $10,756,000. Sales for the 39 weeks ended July 30, 2005 were $914,086,000 compared to $875,335,000 in the prior year period. Same store sales from the twenty three stores operated in both periods decreased 1.4% period to period. The decrease was primarily due to the effect of competitive store openings and the impact from the opening of the new Foodarama locations on several of its existing stores, partially offset by comparable store sales increases in locations not affected by competitive openings. Sales for the current 39 week period included the operations of the new Lawrenceville and Aberdeen, New Jersey locations as well as the location in Bordentown, New Jersey. The Lawrenceville store opened in April 2004. For the 39 weeks ended July 30, 2005 the Company reported net income of $860,000 or $.83 per diluted share. The Company's EBITDA for the nine months ended July 30, 2005 were $32,228,000. For the 39 weeks ended July 31, 2004 net income was $2,692,000 or $2.62 per diluted share. The Company's EBITDA for the nine months ended July 31, 2004 were $31,666,000. 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 Thirty Nine Weeks Ended -------------------- ----------------------- July 30, 2005 July 31, 2004 July 30, 2005 July 31, 2004 ------------- ------------- ------------- ------------- Net income $ 553,000 $ 496,000 $ 860,000 $ 2,692,000 Add: Interest expense, net 4,547,000 4,224,000 13,777,000 11,798,000 Income tax provision 339,000 304,000 528,000 1,651,000 Depreciation 5,495,000 5,580,000 16,487,000 15,146,000 Impairment loss 163,000 - 163,000 - Amortization 99,000 152,000 413,000 379,000 ----------- ----------- ----------- ------------ EBITDA $11,196,000 $10,756,000 $32,228,000 $31,666,000 =========== =========== =========== =========== FOODARAMA SUPERMARKETS, INC. AND SUBSIDIARIES Consolidated Operating Highlights (Unaudited) For the 13 Weeks Ended July 30, 2005 July 31, 2004 - ---------------------- ------------- ------------- Sales............................. $ 304,462,000 $ 302,799,000 Net income ....................... 553,000 496,000 Net income per diluted share...... $.54 $.48 Average shares outstanding........ 1,027,862 1,038,041 EBITDA............................ $ 11,196,000 $ 10,756,000 For the 39 Weeks Ended July 30, 2005 July 31, 2004 - ---------------------- ------------- -------------- Sales............................. $ 914,086,000 $ 875,335,000 Net income........................ 860,000 2,692,000 Net income per diluted share...... $.83 $2.62 Average shares outstanding........ 1,031,904 1,027,760 EBITDA............................ $ 32,228,000 $ 31,666,000 -----END PRIVACY-ENHANCED MESSAGE-----