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
September 29,
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 October 23, 2007, the
Company released its earnings for the third quarter ended
September 29, 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. October 23, 2007 press release announcing
its third 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: October 25, 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. October 23, 2007 press release announcing its third 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 | October 23, 2007 |
| E-Mail: dcurtin@weismarkets.com |
|
|
(SUNBURY, PA)
– Weis Markets, Inc. (NYSE: WMK) today said its
third quarter sales increased 1.4% to $565.0 million
compared to the same period a year ago and its comparable
store sales increased 1.8%.
For the
thirteen week period ending September 29, 2007, the
Company's net income declined 6.5% to $10.8 million and
its earnings per share declined $.03 to $.40 per share as
compared to the same period one year ago.
The
Company said its sales were impacted by lower pharmacy
sales as the result of generic prescriptions supplanting
their brand-name counterparts and the shift of Medicare D
prescriptions to mail order. The Company's sales continue
to benefit from increased perishable sales, successful
sales building strategies and aggressive promotional
activity in several key markets.
The
Company said its net income and earnings per share were
impacted by accelerated depreciation and amortization for
previous year capital expenditures and increased labor
costs. The Company is continuing to implement programs to
manage its labor costs.
Year To Date
Year to
date, the Company's sales increased 2.9% to $1.7 billion
while its comparable store sales increased 3.0%. For the
thirty-nine week period ending September 29, 2007, net
income increased .9% to $42.4 million and earnings per
share increased $.02 to $1.57 per share.
About Weis Markets
This
year, Weis Markets, Inc. marked its 95th year
of operation. Today, the Company operates 155 stores in
five states: Pennsylvania, Maryland, New Jersey, New York
and West Virginia. The Company also owns and operates
SuperPetz, a pet supply superstore chain with 30
locations 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. |
| Comparative Summary of Unaudited Sales & Earnings |
| Third Quarter - 2007 |
| 13 Week | 13 Week | ||
| Period Ended | Period Ended | Increase | |
| Sept. 29, 2007 | Sept. 30, 2006 | (Decrease) | |
| Net Sales | $564,966,000 | $557,177,000 | 1.4% |
| Income Before Taxes | 15,991,000 | 17,242,000 | (7.3%) |
| Provision for Income Taxes | 5,174,000 | 5,677,000 | (8.9%) |
| Net Income | $10,817,000 | $11,565,000 | (6.5%) |
| Weighted-Average | |||
| Shares Outstanding | 26,999,000 | 27,029,000 | (30,000) |
| Basic and Diluted | |||
| Earnings Per Share | $0.40 | $0.43 | ($0.03) |
| 39 Week | 39 Week | ||
| Period Ended | Period Ended | Increase | |
| Sept. 29, 2007 | Sept. 30, 2006 | (Decrease) | |
| Net Sales | $1,715,573,000 | $1,666,907,000 | 2.9% |
| Income Before Taxes | 64,859,000 | 64,642,000 | 0.3% |
| Provision for Income Taxes | 22,479,000 | 22,650,000 | (0.8%) |
| Net Income | $42,380,000 | $41,992,000 | 0.9% |
| Weighted-Average | |||
| Shares Outstanding | 26,998,000 | 27,032,000 | (34,000) |
| Basic and Diluted | |||
| Earnings Per Share | $1.57 | $1.55 | $0.02 |