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
February 7,
2005
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 February 7, 2005, the
Company released its earnings for the fourth quarter ended
December 25, 2004. 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
Press release dated February 7, 2005 announcing Weis Markets,
Inc. fourth quarter 2004 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: February 7, 2005
By: /s/
William R.
Mills
William R.
Mills
Senior Vice President and
Treasurer/CFO
EXHIBIT INDEX
Exhibit No. Description
99.1 Press release dated February 7, 2005 announcing Weis Markets, Inc. fourth quarter 2004 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 | February 7, 2005 |
| E-Mail: dcurtin@weismarkets.com |
| WEIS MARKETS REPORTS INCREASED 4TH QUARTER SALES AND NET INCOME |
(SUNBURY, PA) – Weis Markets,
Inc. (NYSE:WMK) today said its fourth quarter sales
increased 3.1% to $537 million and that its comparable
store sales were up 3.1% during the 13 week period ending
December 25, 2004 compared to the same period in
2003.
The Company's fourth quarter results represent the 14th consecutive quarterly increase in its comparable store sales.
The Company's fourth quarter net income increased 6.7% to $15.1 million. Fourth quarter basic and diluted earnings per share increased to $.56 per share compared to $.52 per share for the same period in 2003.
The Company said its fourth quarter sales were positively impacted by:
The Company's fourth quarter net income was affected by:
Fiscal 2004 Results
For the 52-week period ending December 25, 2004, Company sales increased 2.7% to $2.1 billion and comparable store sales increased 3.0%. In 2004, the Company's net income increased 4.8% to $57.2 million and its basic and diluted earnings per share increased $.10 to $2.11 per share.
In addition to the reasons detailed in the fourth quarter summary, the Company's year-to-date net income was affected by a pre-tax impairment loss of $1.4 million on a closed store facility sold in July 2004.
Founded in 1912, Weis Markets currently operates 157 stores in six states: Pennsylvania, Maryland, New Jersey, New York, Virginia and West Virginia. Weis Markets also owns SuperPetz, a pet supply superstore chain with 33 units in eleven 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. |
| COMPARATIVE SUMMARY OF UNAUDITED SALES & EARNINGS |
| Fourth Quarter - 2004 |
| 13 Week | 13 Week | ||
| Period Ended | Period Ended | Increase | |
| Dec. 25, 2004 | Dec. 27, 2003 | (Decrease) | |
| Net Sales | $537,031,000 | $520,757,000 | 3.1% |
| Income Before Taxes | 20,347,000 | 22,672,000 | (10.3%) |
| Provision for Income Taxes | 5,249,000 | 8,523,000 | (38.4%) |
| Net Income | $15,098,000 | $14,149,000 | 6.7% |
| Weighted-Average | |||
| Shares Outstanding | 27,059,000 | 27,168,000 | (109,000) |
| Basic and Diluted | |||
| Earnings Per Share | $0.56 | $0.52 | $0.04 |
| 52 Week | 52 Week | ||
| Period Ended | Period Ended | Increase | |
| Dec. 25, 2004 | Dec. 27, 2003 | (Decrease) | |
| Net Sales | $2,097,712,000 | $2,042,499,000 | 2.7% |
| Income Before Taxes | 87,603,000 | 88,204,000 | (0.7%) |
| Provision for Income Taxes | 30,412,000 | 33,628,000 | (9.6%) |
| Net Income | $57,191,000 | $54,576,000 | 4.8% |
| Weighted-Average | |||
| Shares Outstanding | 27,098,000 | 27,186,000 | (88,000) |
| Basic and Diluted | |||
| Earnings Per Share | $2.11 | $2.01 | $0.10 |