Golden Enterprises has posted a 2% increase in net sale for the current quarter, despite an economic slow down.
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The US snack maker saw sales increase to $29.8m versus $29.2m for the same period last year.
Operating income was $1.6m compared to $1.4m, up 14% over the prior year. Margins grew 3% as a result of “improved operations and new product expansion”.
The company declared a quarterly dividend of $.03125 per share payable 30 July 2008 to stockholders of record on 21 July 2008.
The US snack maker’s basic and diluted income per share for the thirteen weeks ended 30 May 2008 was $.01 compared to $.05 for the thirteen weeks ended 1 June 2007.
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By GlobalDataThe company said it is in the process of making strategic changes in its distribution system to offset escalating fuel and commodity costs.
Golden Enterprises is a snack company based in Birmingham, Alabama.
