0001144204-15-055389.txt : 20150917 0001144204-15-055389.hdr.sgml : 20150917 20150917120445 ACCESSION NUMBER: 0001144204-15-055389 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20150917 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20150917 DATE AS OF CHANGE: 20150917 FILER: COMPANY DATA: COMPANY CONFORMED NAME: GOLDEN ENTERPRISES INC CENTRAL INDEX KEY: 0000042228 STANDARD INDUSTRIAL CLASSIFICATION: MISCELLANEOUS FOOD PREPARATIONS & KINDRED PRODUCTS [2090] IRS NUMBER: 630250005 STATE OF INCORPORATION: DE FISCAL YEAR END: 0531 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-04339 FILM NUMBER: 151111716 BUSINESS ADDRESS: STREET 1: ONE GOLDEN FLAKE DRIVE CITY: BIRMINGHAM STATE: AL ZIP: 35205 BUSINESS PHONE: 205 323 6161 MAIL ADDRESS: STREET 1: ONE GOLDEN FLAKE DRIVE CITY: BIRMINGHAM STATE: AL ZIP: 35205 FORMER COMPANY: FORMER CONFORMED NAME: GOLDEN FLAKE INC DATE OF NAME CHANGE: 19761019 FORMER COMPANY: FORMER CONFORMED NAME: MAGIC CITY FOOD PRODUCTS INC DATE OF NAME CHANGE: 19700805 8-K 1 v420401_8k.htm FORM 8-K

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)
   
¨ 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))

 

 

 

  

Item 8.01 Other Events

 

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

 

  (c) Exhibits.

  

  Exhibit No. Description
     
  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

 

  GOLDEN ENTERPRISES, INC.
     
  By: /s/ Patty Townsend
    Patty Townsend
    Vice President, CFO & Secretary

 

 

 

 

Exhibit Index 

 

Exhibit No. Description
   
     99.1   Press Release dated September 17, 2015

  

 

EX-99.1 2 v420401_ex99-1.htm EXHIBIT 99.1

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






Income before income taxes

$

1,448,635

$

1,217,785

Income taxes


559,037


450,559






Net income

$

889,598

$

767,226






Basic and diluted earnings per share

$

.08

$

.07






Basic and diluted weighted shares outstanding


11,291,757


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 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.

Golden Enterprises logo

Logo- http://photos.prnewswire.com/prnh/20150901/262827LOGO



CONTACT: Patty Townsend, 205-458-7132

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