UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15 (d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
March 14, 2005
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FOODARAMA SUPERMARKETS, INC.
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(Exact name of registrant as specified in charter)
New Jersey 1-5745-1 21-0717108
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
Building 6, Suite 1, 922 Highway 33, Freehold, New Jersey 07728 (Address of
principal executive offices) (Zip code)
Registrant's telephone number, including area code:(732)462-4700
Not Applicable
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(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):
[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
Section 2-Financial Information
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Item 2.02. Results of Operations and Financial Condition.
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On March 14, 2005 Foodarama Supermarkets, Inc. issued a press release
announcing its consolidated financial results for its first quarter ended
January 29, 2005. A copy of the press release is furnished as Exhibit 99.1 to
this current report.
The information furnished under Item 2.02 of this current report,
including Exhibit 99.1 hereto, shall not be deemed "filed" for purposes of
Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange
Act"), or otherwise subject to the liabilities of that section, nor shall it be
deemed incorporated by reference in any document filed under the Securities Act
of 1933, as amended, or the Exchange Act, except as shall be expressly set forth
by specific reference in such filing.
Section 9-Financial Statements and Exhibits
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Item 9.01. Financial Statements and Exhibits.
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(c)Exhibits:
Exhibit No. Description
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99.1 Press Release, dated March 14,2005,
of Foodarama Supermarkets, Inc.
Re: Consolidated Financial Results
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
FOODARAMA SUPERMARKETS, INC.
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(REGISTRANT)
By: /S/ Michael Shapiro
Michael Shapiro
Senior Vice President
Chief Financial Officer
Date: March 14, 2005
EXHIBIT INDEX
Exhibit No. Description
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99.1 Press Release, dated March 14, 2005 of
Foodarama Supermarkets, Inc. Re: Consolidated
Financial Results
EXHIBIT 99.1
Foodarama Supermarkets, Inc.
Building 6, Suite 1, Hwy 33, Freehold, N.J. 07728
CONTACT: Michael Shapiro
Senior Vice President
Chief Financial Officer
(732) 294-2270
FOR IMMEDIATE RELEASE
FOODARAMA SUPERMARKETS, INC.
REPORTS FIRST QUARTER RESULTS
Freehold, N.J., March 14, 2005 -- Foodarama Supermarkets, Inc. (ASE-FSM)
today announced that sales for the 13 weeks ended January 29, 2005 totaled
$317,589,000, compared to $293,843,000 for the prior year period. Same store
sales from the twenty three stores operated in both periods increased .3% period
to period. Sales for the current quarter included the operations of the new
locations in Lawrenceville and Aberdeen, New Jersey opened in April 2004 and May
2004, respectively, as well as the location in Bordentown, New Jersey purchased
from Wakefern Food Corporation in June 2004. The location in Aberdeen replaced
an older smaller store.
In the current quarter net income was $253,000 or $.24 per diluted share.
The Company's earnings before interest, taxes, depreciation and amortization
("EBITDA") for the first quarter ended January 29, 2005 were $10,737,000.
For the thirteen weeks ended January 31, 2004, the Company reported net
income of $1,240,000 or $1.22 per diluted share. The Company's EBITDA for the
first quarter ended January 31, 2004 were $10,569,000.
EBITDA is presented because management believes that EBITDA is a
useful supplement to net income and other measurements under accounting
principles generally accepted in the United States since it is a meaningful
measure of a company's performance and ability to meet its future debt service
requirements, fund capital expenditures and meet working capital requirements.
EBITDA is not a measure of financial performance under accounting principles
generally accepted in the United States and should not be considered as an
alternative to (i) net income (or any other measure of performance under
generally accepted accounting principles) as a measure of performance or (ii)
cash flows from operating, investing or financing activities as an indicator of
cash flows or as a measure of liquidity. The following table reconciles reported
net income to EBITDA.
Thirteen Weeks Ended
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January 29, 2005 January 31, 2004
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Net income $ 253,000 $ 1,240,000
Add:
Interest expense, net 4,624,000 3,757,000
Income tax provision 155,000 760,000
Depreciation 5,494,000 4,685,000
Amortization 211,000 127,000
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EBITDA $10,737,000 $10,569,000
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FOODARAMA SUPERMARKETS, INC. AND SUBSIDIARIES
Consolidated Operating Highlights (unaudited)
For the 13 weeks ended January 29, 2005 January 31, 2004
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Sales.................................. $ 317,589,000 $ 293,843,000
Net income ............................ 253,000 1,240,000
Net income per diluted share........... $.24 $1.22
Average shares outstanding............. 1,035,753 1,013,049
EBITDA................................. $ 10,737,000 $ 10,569,000