Golden Enterprises Inc. (GLDC, Financial) filed Quarterly Report for the period ended 2009-02-27.
Golden Enterprises Inc. is a holding company which owns all of the issued and outstanding capital stock of Golden Flake Snack Foods Inc. a wholly-owned operating subsidiary company. Golden Flake manufactures and distributes a full line of salted snack items such as potato chips tortilla chips corn chips pretzels fried pork skins baked and fried cheese curls peanut butter crackers cheese crackers onion rings and buttered popcorn. Golden Enterprises Inc. has a market cap of $26.8 million; its shares were traded at around $2.2799 with a P/E ratio of 14.2 and P/S ratio of 0.2. The dividend yield of Golden Enterprises Inc. stocks is 5.5%.
Basic earnings $ 0.06 $ - $ 0.15 $ 0.09
Diluted earnings $ 0.06 $ - $ 0.15 $ 0.09
8. The Company has a line-of-credit agreement with a local bank that permits
borrowing up to $2 million. The line-of-credit is subject to the Company's
continued credit worthiness and compliance with the terms and conditions of
the advance application. The Company's line-of-credit debt as of February
27, 2009 was $1,979,008 with an interest rate of 4.00%, leaving the Company
with $20,992 of credit availability. The Company's line-of-credit debt as
of February 29, 2008 was $1,995,076 with an interest rate of 7.75%, leaving
the Company with $4,924 of credit availability.
Less than $1,000.00 1,092 1,118
$1,001.00-$10,000.00 522 558
$10,001.00-$100,000.00 123 113
$100,001.00-$500,000.00 6 8
$500,001.00-$1,000,000.00 1 1
$1,000,001.00-$2,500,000.00 0 0
- -
The following table summarizes the significant contractual obligations of the
Company as of February 27, 2009:
Contractual Obligations Total Current 2-3 Years 4-5 Years Thereafter
- - - - - -
Vehicle Lease $ 3,350,845 $ 659,266 $ 1,688,444 $ 1,003,135 $ -
Salary Continuation Plan 1,573,471 140,127 316,110 370,762 746,472
- - - - -
Total Contractual Obligations $ 4,924,316 $ 799,393 $ 2,004,554 $ 1,373,897 $ 746,472
= = = = =
Gross Margin % %
Manufactured Products $ 12,423,665 50.7% $ 11,325,146 50.3%
Resale Products 2,056,491 36.4% 1,510,947 29.5%
- - - -
Total $ 14,480,156 48.0% $ 12,836,093 46.5%
= = = =
Gross Margin % %
Manufactured Products $ 35,726,738 49.9% $ 35,130,804 52.0%
Resale Products 6,582,570 37.4% 4,982,720 31.3%
- - - -
Total $ 42,309,308 47.4% $ 40,113,524 48.0%
= = = =
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Golden Enterprises Inc. is a holding company which owns all of the issued and outstanding capital stock of Golden Flake Snack Foods Inc. a wholly-owned operating subsidiary company. Golden Flake manufactures and distributes a full line of salted snack items such as potato chips tortilla chips corn chips pretzels fried pork skins baked and fried cheese curls peanut butter crackers cheese crackers onion rings and buttered popcorn. Golden Enterprises Inc. has a market cap of $26.8 million; its shares were traded at around $2.2799 with a P/E ratio of 14.2 and P/S ratio of 0.2. The dividend yield of Golden Enterprises Inc. stocks is 5.5%.
Highlight of Business Operations:
PER SHARE OF COMMON STOCKBasic earnings $ 0.06 $ - $ 0.15 $ 0.09
Diluted earnings $ 0.06 $ - $ 0.15 $ 0.09
8. The Company has a line-of-credit agreement with a local bank that permits
borrowing up to $2 million. The line-of-credit is subject to the Company's
continued credit worthiness and compliance with the terms and conditions of
the advance application. The Company's line-of-credit debt as of February
27, 2009 was $1,979,008 with an interest rate of 4.00%, leaving the Company
with $20,992 of credit availability. The Company's line-of-credit debt as
of February 29, 2008 was $1,995,076 with an interest rate of 7.75%, leaving
the Company with $4,924 of credit availability.
Less than $1,000.00 1,092 1,118
$1,001.00-$10,000.00 522 558
$10,001.00-$100,000.00 123 113
$100,001.00-$500,000.00 6 8
$500,001.00-$1,000,000.00 1 1
$1,000,001.00-$2,500,000.00 0 0
- -
The following table summarizes the significant contractual obligations of the
Company as of February 27, 2009:
Contractual Obligations Total Current 2-3 Years 4-5 Years Thereafter
- - - - - -
Vehicle Lease $ 3,350,845 $ 659,266 $ 1,688,444 $ 1,003,135 $ -
Salary Continuation Plan 1,573,471 140,127 316,110 370,762 746,472
- - - - -
Total Contractual Obligations $ 4,924,316 $ 799,393 $ 2,004,554 $ 1,373,897 $ 746,472
= = = = =
Gross Margin % %
Manufactured Products $ 12,423,665 50.7% $ 11,325,146 50.3%
Resale Products 2,056,491 36.4% 1,510,947 29.5%
- - - -
Total $ 14,480,156 48.0% $ 12,836,093 46.5%
= = = =
Gross Margin % %
Manufactured Products $ 35,726,738 49.9% $ 35,130,804 52.0%
Resale Products 6,582,570 37.4% 4,982,720 31.3%
- - - -
Total $ 42,309,308 47.4% $ 40,113,524 48.0%
= = = =
Read the The complete Report
