Friday, Village Super Market Inc.'s (VLGEA) fourth-quarter net income declined to $6.68 million from $6.89 million in the year earlier period. Excluding a $708,000 charge related to litigation in fiscal 2009, net income rose 7% in the fourth quarter compared with the prior year, primarily due to higher gross profit percentages, partially offset by higher operating expenses as a percentage of sales and higher depreciation expense.
Net income per class A common stock for the recent quarter slid to $0.50 from $0.52 and net income per class B common stock also descended to $0.39 from $0.41 in the previous year.
Sales for the fourth quarter of 2009 grew to $310.92 million from $297.97 million in the comparable period last year.
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