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 7, 2016

  

 

GOLDEN ENTERPRISES, INC.

(Exact name of registrant as specified in its charter)

 

DELAWARE 0-4339 63-0250005
(State or other jurisdiction of (Commission File Number) (IRS Employer ID No.)
incorporation)    

 

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 8.01Other Events

 

On January 7, 2016 the Company issued a press release, a copy of which is included with this Report as Exhibit 99.1.

 

Item 9.01Financial Statements and Exhibits

 

(c) Exhibits.

 

Exhibit No.   Description
     
99.1   Press Release dated January 7, 2016

 

 

 

   

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 7, 2016      
       
  GOLDEN ENTERPRISES, INC.  
       
   By: /s/ Patty Townsend  
    Patty Townsend  
    Vice President, CFO & Secretary  

 

 

 

 

Exhibit Index

 

Exhibit No.   Description
     
99.1   Press Release dated January 7, 2016

 

 



Golden Enterprises Announces Quarterly Results

BIRMINGHAM, Ala., Jan. 7, 2016 /PRNewswire/ -- Golden Enterprises Inc.'s (Nasdaq: GLDC) Board of Directors today declared a quarterly dividend of $.03375 per share payable January 27, 2016 to stockholders of record on January 18, 2016.

Golden Enterprises Inc.'s total revenues for the second quarter ending November 27, 2015 was $32 million compared to $32 million last year. Net income increased $558,824, $.05 compared to $.00, an increase of $.05 EPS. Selling, general, and administrative expenses decreased $364,016 compared to the same period last year. Favorable fuel cost, reduction in cost associated with our fleet, and efficiencies from our ERP System contributed to the reduction in SG&A.

Operating income increased $893,478 during the second quarter 2016 compared to the same period last year. Significant improvements in margins contributed to the increase in operating income.

For the twenty-six weeks ended November 27, 2015, net income per share was $.13 per share compared to $.07 per share in the twenty-six weeks ending November 28, 2014. Total revenues year-to-date were $66 million compared to $66 million last year.

The following is a summary of net sales and income information for the thirteen weeks and twenty-six weeks ended November 27, 2015 and November 28, 2014.



Thirteen Weeks Ended


Twenty-Six Weeks Ended




November 27,


November 28,


November 27,


November 28,




2015


2014


2015


2014


Net sales

$

31,998,047

$

32,029,326

$

65,730,188

$

66,154,362












Income before income taxes


986,656


88,996


2,435,291


1,306,781


Income taxes


387,105


48,269


946,142


498,828


Net income

$

599,551

$

40,727

$

1,489,149

$

807,953






















Basic and diluted earnings per share

$

0.05

$

0.00

$

0.13

$

0.07












Basic and diluted weighted shares outstanding


11,291,757


11,732,632


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 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.

Golden Enterprises logo

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



CONTACT: CFO, Patty Townsend, 205-458-7132

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