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
April 20, 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 April 20, 2006, the Company
released its earnings for the first quarter ended April 1,
2006. 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. April 20, 2006 press release announcing its
first quarter 2006 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: April 20, 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. April 20, 2006 press release announcing its first quarter 2006 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 | April 20, 2006 |
| E-Mail: dcurtin@weismarkets.com |
|
|
(Sunbury,
PA)- Weis Markets, Inc. (NYSE: WMK) today said its first
quarter sales for the thirteen-week period ending April
1, 2006 declined 0.4% to $547.8 million and that its net
income declined 10.9% as compared to the same period a
year ago.
During
the first quarter, the Company's basic and diluted
earnings per share totaled $0.55 compared to $0.62 per
share for the same period a year ago. The Company's
comparable store sales declined 0.9%.
"Our
sales and net income were negatively impacted by the
timing of the Easter holiday which was celebrated in late
March a year ago but fell three weeks later in 2006,"
said Norman S. Rich, Weis Markets' CEO and President.
"Our results were also affected by a very mild winter,
particularly in Pennsylvania where we operate most of our
stores."
The
Company said its second quarter financial results would
be positively impacted by the timing of the Easter
Holiday, which produced record sales this year.
In
February, the Company introduced its new advertising
campaign, Where Freshness Matters, featuring newly
designed print, electronic and in-store ads emphasizing
the quality and value of its perishables.
During
the quarter, the Company opened a new superstore in
Ranson, West Virginia and completed a remodel in
Hummelstown, Pennsylvania.
Earlier
this month, at its annual shareholders' meeting, the
Company announced that it expects to invest $90.6 million
in its expansion and growth. Part of this budget includes
the Company's plans to build six superstores, including
four replacements. It also plans fifteen additions and
seventeen remodels.
Founded in 1912, Weis Markets operates 158 stores in five states: Pennsylvania, Maryland, New Jersey, New York and West Virginia. Included in this total are stores operating under the Mr. Z's, King's and Scot's Lo-Cost banners. It also owns SuperPetz, a pet supply superstore chain with 31 units 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 |
| First Quarter - 2006 |
| 13 Week | 13 Week | ||
| Period Ended | Period Ended | Increase | |
| April 1, 2006 | March 26, 2005 | (Decrease) | |
| Net Sales | $547,786,000 | $549,712,000 | (0.4%) |
| Income Before Taxes | 23,340,000 | 26,879,000 | (13.2%) |
| Provision for Income Taxes | 8,403,000 | 10,115,000 | (16.9%) |
| Net Income | $14,937,000 | $16,764,000 | (10.9%) |
| Weighted-Average | |||
| Shares Outstanding | 27,035,000 | 27,038,000 | (3,000) |
| Basic and Diluted | |||
| Earnings Per Share | $0.55 | $0.62 | ($0.07) |