Arden Group, Inc. Completes Amended Filings.Business Editors LOS ANGELES--(BUSINESS WIRE)--Sept. 19, 2003 Arden Group, Inc. (Nasdaq:ARDNA) announced that it filed with the Securities and Exchange Commission an amended Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the fiscal year ended December 28, 2002 and amended Quarterly Reports on Form 10-Q Form 10-Q See 10-Q. for the first and second quarters of 2003 reflecting the previously announced restatement of the prior accounting for real property leases with scheduled fixed rent increases to reflect rental income Noun 1. rental income - income received from rental properties income - the financial gain (earned or unearned) accruing over a given period of time and expense on a straight-line basis. The restatement did not impact the Company's cash flow or cash position for any of the periods presented nor will the restatement increase obligations requiring a future use of cash. As previously announced, the effect of the restatement was to reduce net income for fiscal 2000, 2001, 2002 and the first quarter of 2003 by approximately $375,000, $436,000, $414,000 and $102,000, respectively. On a cumulative basis for the periods presented above, this represents a decrease in net income of approximately 3.1%. In addition, to reflect the cumulative effect of the restatement for earlier years, opening retained earnings Retained Earnings The percentage of net earnings not paid out in dividends, but retained by the company to be reinvested in its core business or to pay debt. It is recorded under shareholders equity on the balance sheet. for fiscal 2000 were reduced by approximately $939,000 (representing approximately 1.4% of total stockholders' equity Stockholders' Equity The portion of the balance sheet that includes capital received from investors in exchange for stock (paid-in capital), donated capital, and retained earnings. This is equal to total assets minus liabilities, preferred stock and intangible assets. as of that date). Arden Group, Inc. is the parent company of Gelson's Markets which operates 18 supermarkets in Southern California. |
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