Snack maker Golden Enterprises has reported a move into loss for the first quarter ended 2 September 2005, because of the effect of increased fuel costs.

Net sales were $26.03m, compared with $24,77m in the equivalent quarter last year. But the company reported a loss of $64,242, compared with a profit of $118,175 in the year earlier period.

During the first quarter, gross margins increased $59,894, or 1%, compared to the prior year quarter. Higher sales volume and improvement in pricing continues to offset promotional spending.

Selling, general and administrative expenses increased $416,074, or 4%, due to substantial increases in fuel cost, the company said.