UNITED
STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act
of 1934
January 31, 2006
Date of Report (Date of earliest
event reported)
______________________________________________________
WEIS MARKETS,
INC.
(Exact name of registrant as specified in its
charter)
______________________________________________________
Pennsylvania
1-5039
24-0755415
(State or other
jurisdiction (Commission (IRS
Employer
of
incorporation) File
Number) Identification
No.)
1000 South
Second Street, Sunbury, PA 17801
(Address of principal executive offices) (Zip
Code)
(570)
286-4571
Registrant's telephone number, including area
code
N/A
(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))
Item 2.02 Results of Operations and Financial Condition.
On January 31, 2006, the
Company released its earnings for the fourth quarter ended
December 31, 2005. A copy of the press release
is attached hereto as Exhibit 99.1 and is incorporated herein
by this reference.
Item 9.01 Financial Statements and Exhibits.
(c)
Exhibit.
99.1
Weis Markets, Inc. December 31, 2005 press release announcing
its fourth quarter 2005 earnings.
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.
WEIS MARKETS, INC.
Dated: January 31, 2006
By: /s/
William R.
Mills
William R.
Mills
Senior Vice President and
Treasurer/CFO
EXHIBIT INDEX
Exhibit No. Description
99.1 Weis Markets, Inc. January 31, 2006 press release announcing its fourth quarter 2005 earnings.
EXHIBIT 99.1
| WEIS MARKETS, INC. | 1000 S. 2nd Street |
| Sunbury, Pennsylvania 17801 | |
| Phone 570-286-3636 | |
| Fax 570-286-3692 |
| Press Release |
| Contact: Dennis Curtin | FOR IMMEDIATE RELEASE |
| Phone: (570) 286-3636 | January 31, 2006 |
| E-Mail: dcurtin@weismarkets.com |
|
|
(SUNBURY, PA) – Weis Markets,
Inc. (NYSE:WMK) today reported a 21.6% increase in its
fourth quarter net income and a 12.1% increase in its
fourth quarter sales for the fourteen-week period ending
December 31, 2005 compared to the thirteen-week period
ending December 25, 2004.
At the Company's quarterly meeting
held today in Sunbury, Weis Markets' Board of Directors
increased the dividend $.01 to $.29 per share, a 3.6%
increase. The Company also said it would invest $90.6
million in its capital expenditure budget in
2006.
During the fourteen-week period ending
December 31, 2005, the Company's net income totaled $18.4
million or $.68 in basic and diluted earnings per share
compared to $15.1 million or $.56 in basic and diluted
earnings per share for the thirteen-week period ending
December 25, 2004.
The Company's fourth quarter sales for
the fourteen-week period ending December 31, 2005,
totaled $601.9 million compared to $537 million for the
thirteen-week period ending December 25, 2004. The
Company's comparable store sales, adjusted for the
additional week in 2005, increased 4.7% in the fourth
quarter.
The Company continues to benefit from
profitable and sustained sales growth in its perishable
departments and key center store categories. The Company
continues to see significant increases in its fuel,
utility and debit/credit card interchange
costs.
Year to Date Results
For the 53-week period ending December
31, 2005, the Company's net income increased 10.9% to
$63.4 million or $2.35 in basic and diluted earnings per
share compared to $57.2 million or $2.11 in basic and
diluted earnings per share for the 52-week period ending
December 25, 2004.
In 2005, the Company's sales increased 6.0% to $2.2 billion and its comparable store sales, adjusted for a 52-week comparison, increased 4.0%.
Dividend
Weis Markets' Board of Directors today increased the quarterly dividend to $.29 per share to shareholders of record as of February 10, 2006, payable February 24, 2006.
Founded in 1912, Weis Markets, Inc. is a Mid-Atlantic supermarket company operating 158 stores in six states: Pennsylvania, Maryland, New Jersey, New York, Virginia and West Virginia. The Company also owns and operates SuperPetz, a pet supply superstore chain with 31 locations in ten states.
-# # #-
In addition to historical
information, this news release may contain
forward-looking statements. Any forward-looking
statements contained herein are subject to certain risks
and uncertainties that could cause actual results to
differ materially from those projected. For example,
risks and uncertainties can arise with changes in:
general economic conditions, including their impact on
capital expenditures; business conditions in the retail
industry; the regulatory environment; rapidly changing
technology and competitive factors, including increased
competition with regional and national retailers; and
price pressures.
The Company undertakes no obligation to publicly revise or update these forward-looking statements to reflect events or circumstances that arise after the date hereof other than through its periodic filings with the Securities and Exchange Commission that are available to the public.
|
Weis Markets, Inc.
and Subsidiaries |
| Comparative Summary of Unaudited Sales & Earnings |
| Fourth Quarter - 2005 |
| 14 Week | 13 Week | ||
| Period Ended | Period Ended | Increase | |
| Dec. 31, 2005 | Dec. 25, 2004 | (Decrease) | |
| Net Sales | $601,901,000 | $537,031,000 | 12.1% |
| Income Before Taxes | 27,739,000 | 20,347,000 | 36.3% |
| Provision for Income Taxes | 9,375,000 | 5,249,000 | 78.6% |
| Net Income | $18,364,000 | $15,098,000 | 21.6% |
| Weighted-Average | |||
| Shares Outstanding | 27,030,000 | 27,059,000 | (29,000) |
| Basic and Diluted | |||
| Earnings Per Share | $0.68 | $0.56 | $0.12 |
| 53 Week | 52 Week | ||
| Period Ended | Period Ended | Increase | |
| Dec. 31, 2005 | Dec. 25, 2004 | (Decrease) | |
| Net Sales | $2,222,598,000 | $2,097,712,000 | 6.0% |
| Income Before Taxes | 99,306,000 | 87,603,000 | 13.4% |
| Provision for Income Taxes | 35,885,000 | 30,412,000 | 18.0% |
| Net Income | $63,421,000 | $57,191,000 | 10.9% |
| Weighted-Average | |||
| Shares Outstanding | 27,034,000 | 27,098,000 | (64,000) |
| Basic and Diluted | |||
| Earnings Per Share | $2.35 | $2.11 | $0.24 |