-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, RjuPZcGTUWREvKyTvb7uVi0Usr6dYggXOIlTGffAAwwDWRLmskgnipYmxk20J1As 1FBUNErK/hNwTpmZqi0K7g== 0000105418-04-000018.txt : 20040420 0000105418-04-000018.hdr.sgml : 20040420 20040420102210 ACCESSION NUMBER: 0000105418-04-000018 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20040420 ITEM INFORMATION: FILED AS OF DATE: 20040420 FILER: COMPANY DATA: COMPANY CONFORMED NAME: WEIS MARKETS INC CENTRAL INDEX KEY: 0000105418 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-GROCERY STORES [5411] IRS NUMBER: 240755415 STATE OF INCORPORATION: PA FISCAL YEAR END: 1226 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-05039 FILM NUMBER: 04741937 BUSINESS ADDRESS: STREET 1: 1000 S SECOND ST STREET 2: PO BOX 471 CITY: SUNBURY STATE: PA ZIP: 17801 BUSINESS PHONE: 570-286-4571 MAIL ADDRESS: STREET 1: 1000 S SECOND ST STREET 2: PO BOX 471 CITY: SUNBURY STATE: PA ZIP: 17801 8-K 1 press012004.htm WEIS MARKETS, INC. 1ST QTR 2004 PRESS RELEASE Body
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 April 20, 2004
E-Mail: dcurtin@weismarkets.com
WEIS MARKETS REPORTS 1st QUARTER INCREASE
IN SALES AND NET INCOME
     (Sunbury, PA) – Weis Markets, Inc. (NYSE: WMK) today said its first quarter sales increased 2.3% to $520.7 million and net income increased 2.9% to $16.2 million as compared to the prior year.

     During the thirteen week period ending March 27, 2004, the Company's basic and diluted earnings per share increased 3.4% to $.60 per share. The Company's comparable store sales increased 3.0%.

     The Company's increases in sales and net income were the result of a strong performance in its perishable departments, favorable variances in commodity pricing, increased customer traffic and improvements in its expense control initiatives.

     At the Company's Annual Shareholders' meeting, Weis Markets' Chairman Robert F. Weis announced the Company would invest $93.2 million in its capital expansion program. This budget contains 30 store projects including the construction of seven superstores (five are replacement units), the expansion of nine units and the remodel of 14 others. While these projects will begin in 2004, some might not be completed until 2005.

     The Weis Markets' Board of Directors authorized the repurchase of up to one million shares of company's common stock at its April meeting. This action supersedes the previous repurchase resolution, which was approved by the Company's Board in 1996 and had a remaining balance of 474,504 shares.

     Founded in 1912, Weis Markets operates 158 stores in six states: Pennsylvania, Maryland, New Jersey, New York, Virginia and West Virginia. The company also owns and operates 33 SuperPetz units in eleven states.

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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
First Quarter - 2004
  13 Week 13 Week  
  Period Ended Period Ended Increase
  Mar. 27, 2004 Mar. 29, 2003 (Decrease)
Net Sales $520,669,000 $509,071,000 2.3%
Income Before Taxes 26,037,000 25,438,000 2.4%
Provision for Income Taxes 9,802,000 9,654,000 1.5%
Net Income $16,235,000 $15,784,000 2.9%
       
Weighted-Average      
     Shares Outstanding 27,140,000 27,194,000 (54,000)
Basic and Diluted      
     Earnings Per Share $0.60 $0.58 $0.02
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
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