Harris Teeter 1997 Annual Report Download - page 31

Download and view the complete annual report

Please find page 31 of the 1997 Harris Teeter annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 36

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36

Even Better
1997 ANNUAL REPORT
1129
Quarterly Information (Unaudited)
The following table sets forth certain financial information, the high and low sales prices and dividends declared for the
common stock for the periods indicated. The Company’s common stock is listed and traded on the New York Stock
Exchange. As of September 28, 1997, there were 1,599 holders of record of common stock.
First Second Third Fourth
(In millions, except per share data) Quarter Quarter Quarter Quarter
1997 Operating Results
Net Sales $ 574.1 $ 563.9 $ 579.8 $ 582.3
Net Income 11.6 11.2 13.0 11.9
Net Income Per Share .25 .24 .28 .25
Dividend Per Share .08 .08 .08 .08
Market Price Per Share
High 13 7⁄817 3⁄416 3⁄416 5⁄8
Low 12 3⁄813 1⁄4 14 3⁄414 3⁄4
1996 Operating Results
Net Sales $ 529.7 $ 522.3 $ 532.6 $ 557.9
Net Income 8.1 9.5 13.6 11.6
Net Income Per Share .17 .21 .29 .25
Dividend Per Share .06 .06 .07 .07
Market Price Per Share
High 14 1⁄813 1⁄415 1⁄414 1⁄4
Low 9 5⁄810 5⁄812 1⁄411 1⁄4
To the Board of Directors of Ruddick Corporation:
We have audited the accompanying consolidated balance sheets of Ruddick Corporation (a North Carolina corporation)
and subsidiaries as of September 28, 1997, and September 29, 1996, and the related statements of consolidated income and
retained earnings and consolidated cash flows for each of the three years in the period ended September 28, 1997. These
financial statements are the responsibility of the Company’s management. Our responsibility is to express an opinion on
these financial statements based on our audits.
We conducted our audits in accordance with generally accepted auditing standards. Those standards require that we plan
and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstate-
ment. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial
statements. An audit also includes assessing the accounting principles used and significant estimates made by management,
as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis
for our opinion.
In our opinion, the financial statements referred to above present fairly, in all material respects, the consolidated
financial position of Ruddick Corporation and subsidiaries as of September 28, 1997 and September 29, 1996, and
the results of their operations and their cash flows for each of three years in the period ended September 28, 1997 in
conformity with generally accepted accounting principles.
Charlotte, North Carolina ARTHUR ANDERSEN LLP
October 22,1997
Report of Independent Public Accountants