0001157523-12-003692.txt : 20120719 0001157523-12-003692.hdr.sgml : 20120719 20120719123136 ACCESSION NUMBER: 0001157523-12-003692 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20120719 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20120719 DATE AS OF CHANGE: 20120719 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: 12969541 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 a50347072.htm GOLDEN ENTERPRISES, INC. 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) July 19, 2012

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 (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))

Item 8.01 Other Events

On July 19, 2012 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

	Exhibit No.		Description

	99.1		Press Release dated July 19, 2012

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:	July 19, 2012

		GOLDEN ENTERPRISES, INC.

		By:	/s/ Patty Townsend
			Patty Townsend
			Vice President, CFO & Secretary

Exhibit Index

Exhibit No.		Description

99.1		Press Release dated July 19, 2012

EX-99.1 2 a50347072ex99_1.htm EXHIBIT 99.1

Exhibit 99.1

Golden Enterprises Announces Quarterly and Annual Results

BIRMINGHAM, Ala.--(BUSINESS WIRE)--July 19, 2012--Golden Enterprises, Inc.’s (NASDAQ: GLDC) Board of Directors today declared a quarterly dividend of $.03125 per share payable August 8, 2012 to stockholders of record on July 30, 2012.

Golden Enterprises, Inc.’s basic and diluted income for the thirteen weeks ended June 1, 2012 were $.04 compared to $.09 for the thirteen weeks ended June 3, 2011 on net sales of $35,280,087 versus $34,095,509, an increase of 3%.

For the 52 weeks ended June 1, 2012, net income was $.19 per share compared to $.26 per share in the 53 weeks ended June 3, 2011. Net sales were $136.1 million for the 52 weeks ended June 1, 2012 compared with $131.0 million for the 53 weeks ended June 3, 2011, an increase of 3.9%. When normalized to a 52 week comparison, current year sales would have shown an increase of 5.6% over the prior year sales.

Gross margins increased $1.9 million on manufacturing efficiency gains and the increase in sales overcoming a $2.8 million increase in commodity costs.

Selling, general and administrative expenses for the 52 weeks ended June 1, 2012 increased $3.2 million compared to the prior year. Much of this increase was attributed to selling related expenses including advertising, fuel costs, and other vehicle related expenses, as well as expenses associated with the implementation of the Company’s new enterprise resource planning system.

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


	Three Months Ended				Twelve Months Ended
	Thirteen Weeks Ended				52 Weeks Ended		53 Weeks Ended
	June 1, 2012		June 3, 2011		June 1, 2012		June 3, 2011

Net Sales	$	35,280,087	$	34,095,509	$	136,185,657	$	131,047,850

Income before income taxes		1,139,366		1,833,340		3,945,849		5,109,267
Income taxes		676,359		855,347		1,738,226		2,094,499
Net income	$	463,007	$	977,993	$	2,207,623	$	3,014,768

Basic and diluted income per share	$	0.04	$	0.09	$	0.19	$	0.26

Basic weighted shares outstanding		11,734,632		11,734,632		11,734,632		11,735,893

Diluted weighted shares outstanding		11,734,632		11,734,632		11,734,632		11,735,893

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.

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