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  • Weis Markets, Inc. (WMK) Reports Second Quarter Earnings Increase 0 comments
    Jul 13, 2010 1:47 PM | about stocks: WMK

    Weis Markets, Inc. reported net income of $20.5 million and earnings per share of $0.76 for the second quarter of 2010 ending 6/26/2010. The company earned net income of $15.2 million, or $0.56 per share, in the same quarter of 2009

    Weis Markets, Inc. reported revenues of $653.7 million in the second quarter of 2010. This was a 6% increase from the second quarter of 2009 when the company reported revenues of $615.4 million. The company reported comparable store sales flat with the year earlier period.

    Weis Markets, Inc. reported that for the six months ending 6/26/2010, the company earned net income of $37.9 million, and earnings per share of $1.41. Revenues came in at $1.3 billion. All three of these metrics represented increases over the same period in 2009.

    The management of Weis Markets, Inc. continued to express concern about the weak economy in its service area. David J. Hepfinger, the CEO of Weis Markets, Inc., said, “It is clear the economy continues to be a major concern for our customers, who continue to be extremely cautious in their spending. In this environment, we have maintained our sales base and produced our seventh consecutive quarter of earnings increases.”

    Weis Markets, Inc. was founded in 1912 and operates a chain of 164 grocery stores located primarily in the Northeastern United States, including New Jersey, Pennsylvania, Maryland, West Virginia and New York.

    For more information on the company, go to weismarkets.com

    Please see disclaimer on QualityStocks website: disclaimer.qualitystocks.net

    Disclosure: no positions

    Stocks: WMK
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