Arden Group Inc. Announces Sales and Income Figures.LOS LOS Length of stay, see there ANGELES--(BUSINESS WIRE)--May 18, 1998--Arden Group Inc. (Nasdaq/NM:ARDNA) Monday Monday: see week. released its sales and income figures for the first quarters ended April 4, 1998, and March 29, 1997, respectively. Arden Ar·den An unincorporated city of north-central California, a residential suburb of Sacramento. Population: 101,400. Arden, Elizabeth 1884?-1966. Group operates 13 Gelson's and Mayfair May·fair A fashionable district in the West End of London, England. It was named after an annual fair held in the district until 1708. 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, . -0-
ARDEN GROUP INC. AND CONSOLIDATED SUBSIDIARY
First Quarter 1998(a) First Quarter 1997(a)
Sales $ 70,294,000 $ 64,961,000
Operating income $ 3,965,000(b) $ 2,732,000
Interest, dividend and
other income (expense),
net (81,000) 198,000
Income from continuing
operations before income
taxes 3,884,000 2,930,000
Income tax provision 1,546,000 1,145,000
Income from continuing
operations (net of
income taxes) $ 2,338,000 $ 1,785,000
Loss from discontinued
operations (net of income
tax benefits of $1,577,000) (2,695,000)(c)
Net income $ 2,338,000 ($ 910,000)
Net income per common share:
Income from continuing
operations $2.61 $1.61
Loss from discontinued
operations (2.43)
Net income per common share $2.61 (82 cents)
Weighted average common
shares outstanding 896,380 1,108,999
(a) First quarter 1998 ended on April 4, 1998, and first quarter 1997
ended on March 29, 1997.
(b) Reflects an increase in sales and gross profit percentage,
combined with lower expenses (as a percent of sales) in 1998
compared with 1997.
(c) Reflects an arbitration decision adjusting the purchase price of
the sale, in 1993, of the company's communication equipment
business.
CONTACT: Arden Group Inc., Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. Ernest Er´nest n. 1. See Earnest. T. Klinger, 310/638-2842 |
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