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
June 30,
2007
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 July 20, 2007, the Company
released its earnings for the second quarter ended June 30,
2007. 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. July 20, 2007 press release announcing its
second quarter 2007 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: July 23, 2007
By: /s/
William R.
Mills
William R.
Mills
Senior Vice President,
Treasurer
and Chief Financial
Officer
EXHIBIT INDEX
Exhibit No. Description
99.1 Weis Markets, Inc. July 20, 2007 press release announcing its second quarter 2007 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 | July 20, 2007 |
| E-Mail: dcurtin@weismarkets.com |
|
EARNINGS |
(SUNBURY, PA)
– Weis Markets, Inc. (NYSE: WMK) today said its
second quarter sales increased 3.0% to $578.8 million for
the thirteen-week period ending June 30, 2007 compared to
the same period a year ago while its comparable store
sales increased 3.2%.
The
Company's second quarter basic and diluted earnings per
share increased $.10 to $.67 per share while net income
increased 17.2% to $18.2 million.
Second
quarter earnings were favorably impacted by the sale of
two properties generating a $5.3 million pre-tax gain.
Expenses as a percentage of sales remained consistent due
to recently implemented cost control initiatives, as
compared to the same period last year.
The
Company said its sales continue to benefit from
perishable department sales growth, successful sales
building strategies and aggressive promotional
activity.
YEAR TO DATE
For the
twenty-six week period ending June 30, 2007, the
Company's year-to-date sales increased 3.7% to $1.2
billion while comparable store sales are up 3.6%.
Year-to-date basic and diluted earnings per share
increased $.04 to $1.17 and net income increased 3.7% to
$31.6 million.
Founded
in 1912, Weis Markets, Inc. marked its 95th year of
operation in May. The Mid-Atlantic food retailer
currently operates 157 stores in five states:
Pennsylvania, Maryland, New York, New Jersey and West
Virginia.
# # #
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 |
| Second Quarter - 2007 |
| 13 Week | 13 Week | ||
| Period Ended | Period Ended | Increase | |
| June 30, 2007 | July 1, 2006 | (Decrease) | |
| Net Sales | $578,812,000 | $561,944,000 | 3.0% |
| Income Before Taxes | 28,426,000 | 24,062,000 | 18.1% |
| Provision for Income Taxes | 10,268,000 | 8,571,000 | 19.8% |
| Net Income | $18,158,000 | $15,491,000 | 17.2% |
| Weighted-Average | |||
| Shares Outstanding | 27,001,000 | 27,032,000 | (31,000) |
| Basic and Diluted | |||
| Earnings Per Share | $0.67 | $0.57 | $0.10 |
| 26 Week | 26 Week | ||
| Period Ended | Period Ended | Increase | |
| June 30, 2007 | July 1, 2006 | (Decrease) | |
| Net Sales | $1,150,607,000 | $1,109,729,000 | 3.7% |
| Income Before Taxes | 48,868,000 | 47,401,000 | 3.1% |
| Provision for Income Taxes | 17,305,000 | 16,974,000 | 2.0% |
| Net Income | $31,563,000 | $30,427,000 | 3.7% |
| Weighted-Average | |||
| Shares Outstanding | 27,002,000 | 27,034,000 | (32,000) |
| Basic and Diluted | |||
| Earnings Per Share | $1.17 | $1.13 | $0.04 |