Arden Group, Inc. Announces Year-End Earnings.Business Editors LOS LOS Length of stay, see there ANGELES--(BUSINESS WIRE)--March 7, 2003 Arden Ar·den An unincorporated city of north-central California, a residential suburb of Sacramento. Population: 101,400. Arden, Elizabeth 1884?-1966. Group, Inc. (Nasdaq:ARDNA) today released its sales and income figures for the fourth quarters and years ended December December: see month. 28, 2002 and December 29, 2001, respectively. Arden Group, Inc. is the parent company of Gelson's Markets which operates 18 supermarkets in Southern California Southern California, also colloquially known as SoCal, is the southern portion of the U.S. state of California. Centered on the cities of Los Angeles and San Diego, Southern California is home to nearly 24 million people and is the nation's second most populated region, .
ARDEN GROUP, INC. AND CONSOLIDATED SUBSIDIARIES
FOURTH QUARTER AND YEAR-END REPORT
(In Thousands, Except Share and Per Share Data) (Unaudited)
Thirteen Weeks Ended Fifty-Two Weeks Ended
December December December December
28, 29, 28, 29,
2002 2001 2002 2001
Sales (a) $103,901 $103,641 $401,378 $391,880
Operating income (b) 5,229 3,960 22,343 20,112
Interest, dividend and
other income (expense),
net 817 754 1,644 1,926
Income before income taxes 6,046 4,714 23,987 22,038
Income tax provision 2,331 1,672 9,641 8,731
Net income $3,715 $3,042 $14,346 $13,307
Net income per common
share:
Basic $1.11 $0.91 $4.28 $3.93
Diluted $1.10 $0.91 $4.26 $3.92
Weighted average common
shares outstanding:
Basic 3,361,468 3,347,569 3,355,020 3,389,234
Diluted 3,371,926 3,361,082 3,365,961 3,398,671
(a) During the year ended December 28, 2002, sales increased 2.4% and same store sales Same Store Sales A statistic used in retail industry analysis. It compares sales of stores that have been open for a year or more. Notes: This statistic allows investors to determine what portion of new sales has come from sales growth and what portion from the opening of increased 1.0% over the prior year. Sales and same store sales during the fourth quarter of 2002 remained relatively unchanged compared to the fourth quarter of 2001. Approximately 1.6% of the 2.4% overall increase in 2002 relates to sales from the Pasadena Pasadena (păs'ədē`nə). 1 City (1990 pop. 131,591), Los Angeles co., S Calif., at the base of the San Gabriel Mts.; inc. 1866. store which opened in September 2001. (b) In the fourth quarter, the Company recorded compensation expense of $210 in 2002 and $816 in 2001 relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc stock appreciation rights. Costs associated with the opening of the Company's Pasadena store in September 2001 resulted in significantly higher operating expenses Operating expenses The amount paid for asset maintenance or the cost of doing business, excluding depreciation. Earnings are distributed after operating expenses are deducted. in the fourth quarter of 2001 compared to 2002. |
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