ARDEN GROUP INC

CIK:0000225051|SEC Filings

Condensed Consolidated Statements of Comprehensive Income (Unaudited) (USD $) In Thousands, except Share data, unless otherwise specified	3 Months Ended		9 Months Ended
	Sep. 28, 2013	Sep. 29, 2012	Sep. 28, 2013	Sep. 29, 2012
Sales	$ 112,121	$ 108,150	$ 336,807	$ 323,076
Cost of sales	69,497	66,396	208,264	199,614
Gross profit	42,624	41,754	128,543	123,462
Selling, general and administrative expenses	36,370	33,207	106,591	99,876
Loss (gain) from exit activity	(49)	6	121	1,912
Operating income	6,303	8,541	21,831	21,674
Interest and dividend income	12	47	36	138
Interest expense	(22)	(22)	(65)	(65)
Other income (expense), net	0	0	17	0
Income before income taxes	6,293	8,566	21,819	21,747
Income tax provision	2,564	3,491	8,890	8,861
Net income	3,729	5,075	12,929	12,886
Other comprehensive gain (loss), net of tax:
Net unrealized holding gain (loss) from available-for-sale securities, net of income tax expense (benefit) of $4 and ($1) for 2013 and $7 and $5 for 2012, respectively	4	10	(2)	7
Comprehensive income	$ 3,733	$ 5,085	$ 12,927	$ 12,893
Basic and diluted net income per common share (in Dollars per share)	$ 1.21	$ 1.65	$ 4.21	$ 4.20
Basic and diluted weighted average common shares outstanding (in Shares)	3,071,000	3,071,000	3,071,000	3,071,000

Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $) In Thousands, unless otherwise specified	9 Months Ended
	Sep. 28, 2013	Sep. 29, 2012
Cash flows from operating activities:
Cash received from customers	$ 337,509	$ 323,383
Cash paid to suppliers and employees	(302,719)	(295,045)
Interest and dividends received	150	367
Interest paid	(86)	(86)
Income taxes paid	(12,492)	(5,394)
Cash paid for exit activity	(119)	(2,243)
Net income	12,929	12,886
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	3,530	3,728
Provision for losses on accounts receivable	18	31
Net loss from the disposal of property, plant and equipment	54	149
Realized gain on investments, net	(17)	0
Amortization of premium on investments	169	297
Stock appreciation rights compensation expense (income)	3,049	(234)
(Increase) decrease in assets:
Accounts receivable	659	238
Inventories	3,489	1,927
Other current assets	(832)	(657)
Other assets	2	18
Increase (decrease) in liabilities:
Accounts payable, trade and other current liabilities	2,762	1,145
Income taxes payable	(3,602)	3,467
Deferred rent	241	(605)
Other liabilities	(208)	(1,408)
Net cash provided by operating activities	22,243	20,982
Cash flows from investing activities:
Capital expenditures	(12,034)	(3,386)
Purchases of investments	(15,639)	(102,516)
Sales of investments	11,745	78,266
Proceeds from the sale of property, plant and equipment	157	24
Net cash used in investing activities	(15,771)	(27,612)
Cash flows from financing activities:
Cash dividends paid	(2,303)	(2,303)
Net cash used in financing activities	(2,303)	(2,303)
Net increase (decrease) in cash and cash equivalents	4,169	(8,933)
Cash and cash equivalents at beginning of period	16,037	30,675
Cash and cash equivalents at end of period	$ 20,206	$ 21,742

Condensed Consolidated Balance Sheets (Unaudited) (USD $) In Thousands, unless otherwise specified	Sep. 28, 2013	Dec. 29, 2012
Current assets:
Cash and cash equivalents	$ 20,206	$ 16,037
Investments	5,510	1,759
Accounts receivable, net of allowance for doubtful accounts, of $176 and $187 as of September 28, 2013 and December 29, 2012, respectively	4,205	4,882
Income taxes receivable	3,121	0
Inventories, net	16,200	19,689
Deferred income taxes	1,365	1,364
Other current assets	4,413	3,581
Total current assets	55,020	47,312
Property, plant and equipment, net	46,367	38,074
Deferred income taxes	1,761	1,761
Other assets	2,886	2,900
Total assets	106,034	90,047
Current liabilities:
Accounts payable, trade	16,627	16,335
Income taxes payable	0	481
Short-term debt	1,228	0
Other current liabilities	20,276	16,162
Total current liabilities	38,131	32,978
Long-term debt	0	1,228
Deferred rent	5,768	5,527
Other liabilities	5,317	4,120
Total liabilities	49,216	43,853
Stockholders’ equity:
Common Stock, Class A, $0.25 par value; authorized 10,000,000 shares; 3,071,000 shares issued and outstanding as of September 28, 2013 and December 29, 2012, respectively, excluding 1,357,200 treasury shares	1,107	1,107
Capital surplus	5,271	5,271
Unrealized gain (loss) on investments, net of tax	(1)	1
Retained earnings	54,194	43,568
	60,571	49,947
Treasury stock, 1,357,200 shares at cost	(3,753)	(3,753)
Total stockholders’ equity	56,818	46,194
Total liabilities and stockholders’ equity	$ 106,034	$ 90,047