0001157523-14-002848.txt : 20140717 0001157523-14-002848.hdr.sgml : 20140717 20140717123705 ACCESSION NUMBER: 0001157523-14-002848 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20140717 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20140717 DATE AS OF CHANGE: 20140717 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: 14979814 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 a50906900.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 17, 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 July 17, 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 July 17, 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:	July 17, 2014

		GOLDEN ENTERPRISES, INC.

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

Exhibit Index

Exhibit No.		Description

99.1		Press Release dated July 17, 2014

EX-99.1 2 a50906900ex99_1.htm EXHIBIT 99.1

Exhibit 99.1

Golden Enterprises Announces Quarterly and Annual Results

BIRMINGHAM, Ala.--(BUSINESS WIRE)--July 17, 2014--Golden Enterprises, Inc.’s (NASDAQ: GLDC) Board of Directors today declared a quarterly dividend of $.03125 per share payable August 6, 2014 to stockholders of record on July 28, 2014.

Golden Enterprises, Inc.’s basic and diluted income for the thirteen weeks ended May 30, 2014 were $.06 net income compared to $.04 loss for the thirteen weeks ended May 31, 2013 on net sales of $35,127,812 versus $35,811,403.

For the 52 weeks ended May 30, 2014, net income was $.08 per share compared to $ .10 per share in the 52 weeks ended May 31, 2013. This year’s net income included a onetime restructuring charge of $1 million dollars. The restructuring charges occurred in the third quarter and negatively impacted net income $.05 per share. This restructure charge was done in anticipation of improved operational efficiencies from the implementation of the Infor/Lawson ERP System.

Selling, general and administrative expenses for the 52 weeks ended May 30, 2014 decreased $837,213 compared to the prior year. This decrease was due in part to operational improvements from the restructure and efficiencies gained from our investment in our new ERP system.

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


	Three Months Ended					Twelve Months Ended
	Thirteen Weeks Ended					52 Weeks Ended		52 Weeks Ended
	May 30, 2014		May 31, 2013			May 30, 2014		May 31, 2013

Net Sales	$	35,127,812	$	35,811,403		$	135,896,895	$	137,344,716

Income before income taxes		1,013,261		(743,139	)		1,593,888		2,176,555
Income taxes		328,303		(292,395	)		672,059		1,042,518
Net income		684,958		(450,744	)		921,829		1,134,037

Basic diluted income per share	$	0.06	$	( 0.04	)	$	0.08	$	0.10

Basic weighted shares outstanding		11,732,632		11,732,632			11,732,632		11,733,489

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