0001157523-14-000054.txt : 20140109 0001157523-14-000054.hdr.sgml : 20140109 20140109122158 ACCESSION NUMBER: 0001157523-14-000054 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20140109 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20140109 DATE AS OF CHANGE: 20140109 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: 14518107 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 a50779791.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) January 9, 2014

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 January 9, 2014 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 January 9, 2014

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:	January 9, 2014

		GOLDEN ENTERPRISES, INC.

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

Exhibit Index

Exhibit No.		Description

99.1		Press Release dated January 9, 2014

EX-99.1 2 a50779791_99-1.htm EXHIBIT 99.1

Exhibit 99.1

Golden Enterprises Announces Quarterly Results

BIRMINGHAM, Ala.--(BUSINESS WIRE)--January 9, 2014--Golden Enterprises, Inc.’s (NASDAQ: GLDC) Board of Directors today declared a quarterly dividend of $.03125 per share payable January 29, 2014 to stockholders of record on January 20, 2014.

Golden Enterprises, Inc.’s total revenues for the second quarter ended November 29, 2013 were $33.5 million compared to $33.3 million last year, an increase of $244,132 or 1%. Net income for the thirteen weeks ended November 29, 2013 decreased $.04 or $416,061.

For the twenty-six weeks ended November 29, 2013, net income was $.07 per share compared to $.10 per share in the twenty-six weeks ended November 30, 2012. Total revenues year-to-date increased $705,255 or 1%, $68.7 million compared to $68.0 million last year.

Selling, general and administrative expenses for the twenty-six weeks ended November 29, 2013 increased $919,454 compared to the prior year. Along with the costs associated with the implementation of the ERP system, health insurance costs added to the SG&A total. Margins were slightly impacted in the second quarter by a shift in product mix.

The Company’s manufacturing portion of the new ERP system went into operation on October 1, 2013 and the remaining facets of the system are expected to be fully functional by the end of the third quarter. The efficiency gains from the ERP system allowed the Company to offer a group of long-term employees a separation package that will be fully implemented in the third quarter.

The following is a summary of net sales and income information for the thirteen weeks and twenty-six weeks ended November 29, 2013 and November 30, 2012.


		Thirteen Weeks Ended				Twenty-Six Weeks Ended
		November 29,		November 30,		November 29,		November 30,
		2013		2012		2013		2012
Net sales	$	33,486,323	$	33,208,620	$	68,628,161	$	67,892,075

Income before income taxes		108,206		894,992		1,487,255		2,069,294
Income taxes		82,010		452,735		689,531		956,901
Net income	$	26,196	$	442,257	$	797,724	$	1,112,393

Basic and diluted income per share	$	0.00	$	0.04	$	0.07	$	0.10

Basic and diluted weighted shares outstanding		11,732,632		11,734,061		11,732,632		11,734,346

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