Arden Group Inc. announces financial results.LOS LOS Length of stay, see there ANGELES--(BUSINESS WIRE)--May 13, 1997--Arden Group Inc. (NASDAQ/NMS - ARDNA) Tuesday Tuesday: see week. released its sales and income figures for the first quarters ended March 29, 1997 and March 30, 1996, 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 12 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 First Quarter
1997 (a) 1996 (a)
Sales $64,961,000 $60,616,000
Operating income $ 2,732,000(b) $573,000
Interest, dividend and
other income (expense), net 399,000 379,000
Net unrealized loss
on marketable securities (201,000) (713,000)
Income from continuing
operations before income taxes 2,930,000 239,000
Income tax provision 1,145,000 105,000
Income from continuing operations
(net of income taxes) $1,785,000 $134,000
Loss from discontinued operations (net
of income tax benefits of $1,577,000) (2,695,000)(c) -
Net income (loss) ($910,000) $134,000
Net income (loss) per common share:
Income from continuing operations $1.61 $0.12
Loss from discontinued operations (2.43) -
Net income (loss) per common share ($0.82) $0.12
Weighted average common
shares outstanding 1,108,999 1,133,141
(a) First quarter 1997 ended on March 29, 1997 and first quarter
1996 ended on March 30, 1996.
(b) Reflects sales increases and reduced expenses in 1997.
Operating income in 1996 includes preopening expenses, promotional
costs and other operating expenses associated with the opening of
a new Gelson's Market in February 1996.
(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. Ernest Er´nest n. 1. See Earnest. T. Klinger Klinger may refer to:
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