FORM 10-Q
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

(X)       QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES
          EXCHANGE ACT OF 1934

For the quarterly (thirteen weeks) period ended August 31, 2007
                                                ---------------

                                       OR

( )       TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
          EXCHANGE ACT OF 1934

For the transition period from                           to
                                ------------------------------------------------

Commission file number                                 0-4339
                                ------------------------------------------------


                            GOLDEN ENTERPRISES, INC.
                            ------------------------

             (Exact name of registrant as specified in its charter)

           DELAWARE                                              63-0250005

(State or other jurisdiction of                               (I.R.S. Employer
  incorporation or organization)                             Identification No.)

        One Golden Flake Drive
         Birmingham, Alabama                                        35205
----------------------------------------                    --------------------
(Address of Principle Executive Offices)                          (Zip Code)

                                 (205) 458-7316
                                 ---------------
              (Registrant's telephone number, including area code)

Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the preceding 12 months (or for such shorter period that the registrant was
required to file such reports), and (2) has been subject to such filing
requirements for the past 90 days. Yes (X) No ( )

Indicate by check mark whether the registrant is a large accelerated filer, an
accelerated filer, or a non-accelerated filer. See definition of accelerated
filer and large accelerated filer in Rule 12b-2 of the Exchange Act. (Check
one):
Large accelerated filer ____  Accelerated filer ____  Non-accelerated filer__X__

Indicate by check mark whether the registrant is a shell company (as defined in
Rule 12b-2 of the Exchange Act). Yes ( ) No (X)

Indicate the number of shares outstanding of each of the issuer's classes of
common stock, as of September 28, 2007
                                                                 Outstanding at
             Class                                            September 28, 2007
             -----                                            ------------------
Common Stock, Par Value $0.66 2/3                                  11,835,234

<PAGE>


                            GOLDEN ENTERPRISES, INC.

                                      INDEX

Part I.    FINANCIAL INFORMATION                                        Page No.

Item 1     Financial Statements (unaudited)

           Condensed Consolidated Balance Sheets
           August 31, 2007 (unaudited) and June 1, 2007                     3

           Condensed Consolidated Statements of Income (unaudited)
           Thirteen Weeks Ended August 31, 2007 and September 1, 2006       4

           Condensed Consolidated Statements of Cash Flows
           (unaudited)- Thirteen Weeks Ended August 31, 2007 and
           September 1, 2006                                                5

           Notes to Condensed Consolidated Financial
           Statements (unaudited)                                           7

           Report of Independent Registered Public Accounting Firm          9

Item 2     Management's Discussion and Analysis of Financial
           Condition and Results of Operations                             10

Item 3     Quantitative and Qualitative
           Disclosure About Market Risk                                    13

Item 4     Controls and Procedures                                         13

Part II.   OTHER INFORMATION                                               14

Item 1     Legal Proceedings                                               14

Item 1-A   Risk Factors                                                    14

Item 2     Unregistered Sales of Equity Securities and Use of Proceeds     14

Item 3     Defaults Upon Senior Securities                                 15

Item 4     Submission of Matters to a Vote of Security Holders             15

Item 5     Other Information                                               15

Item 6     Exhibits                                                        15

                                       2
<PAGE>

                          PART I. FINANCIAL INFORMATION
                          ITEM 1. FINANCIAL STATEMENTS
                     GOLDEN ENTERPRISES, INC. AND SUBSIDIARY
                      CONDENSED CONSOLIDATED BALANCE SHEETS

                                            (Unaudited)        (Audited)
                                             August 31,         June 1,
                                                2007             2007
                                           --------------   --------------
                                ASSETS
CURRENT ASSETS
 Cash and cash equivalents                 $     596,666    $     706,852
 Receivables, net                              7,802,878        8,458,427
 Notes receivable, current                        59,297           58,126
 Inventories:
  Raw materials and supplies                   1,251,865        1,340,389
  Finished goods                               2,828,858        3,035,285
                                           --------------   --------------
                                               4,080,723        4,375,674
                                           --------------   --------------

 Prepaid expenses                              2,103,866        1,622,900
 Deferred income taxes                           583,179          583,179
                                           --------------   --------------
  Total current assets                        15,226,609       15,805,158
                                           --------------   --------------

PROPERTY, PLANT AND EQUIPMENT                 12,731,026       12,956,633

OTHER ASSETS
 Long-term note receivable                     1,643,360        1,658,630
 Other assets                                  2,857,096        2,905,007
                                           --------------   --------------

                                           $  32,458,091    $  33,325,428
                                           ==============   ==============

                 LIABILITIES AND STOCKHOLDER'S EQUITY

CURRENT LIABILITIES
 Checks outstanding in excess of bank
  balances                                 $   1,815,081    $   1,385,663
 Accounts payable                              2,855,543        3,760,499
 Accrued income taxes                            471,419          318,198
 Other accrued expenses                        4,689,888        5,060,758
 Salary continuation plan                        124,331          121,877
 Note payable - current                                -          270,625
 Line of credit outstanding                      264,712          622,950
                                           --------------   --------------

  Total current liabilities                   10,220,974       11,540,570
                                           --------------   --------------

LONG-TERM LIABILITIES
 Salary continuation plan                      1,562,479        1,582,437
 Deferred income taxes                           752,298          752,298
                                           --------------   --------------
Total long-term liabilities                    2,314,777        2,334,735
                                           --------------   --------------

STOCKHOLDER'S EQUITY
 Common stock - $.66-2/3 par value:
 Authorized 35,000,000 shares;
  issued 13,828,793 shares                     9,219,195        9,219,195
 Additional paid-in capital                    6,497,954        6,497,954
 Retained earnings                            14,883,086       14,410,568
                                           --------------   --------------
                                              30,600,235       30,127,717
 Less: Cost of common shares in treasury
  (1,993,559 at September 1, 2007
  and 1,993,463 at June 1, 2007)            (10,677,895)      (10,677,594)
                                           --------------   --------------

  Total stockholder's equity                  19,922,340       19,450,123
                                           --------------   --------------

   Total                                   $  32,458,091    $  33,325,428
                                           ==============   ==============

See Accompanying Notes to Condensed Consolidated Financial Statements

                                       3
<PAGE>

                     GOLDEN ENTERPRISES, INC. AND SUDSIDIARY
             CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)


                                          ----------------------------
                                            Thirteen        Thirteen
                                              Weeks          Weeks
                                              Ended          Ended
                                             8/31/07         9/1/06
                                          ----------------------------

Net sales                                 $ 28,394,228   $ 27,824,938
Cost of sales                               14,407,799     14,671,202
                                          -------------  -------------
Gross margin                                13,986,429     13,153,736

Selling, general and administrative
 expenses                                   12,681,882     12,800,024
                                          -------------  -------------

  Operating Income                           1,304,547        353,712
                                          -------------  -------------

Other income (expenses):
  Gain on sale of assets                        10,500          6,942
  Interest expense                            (32,743)       (53,569)
  Other income                                  52,733         41,950
                                          -------------  -------------

 Total other income (expenses)                  30,490        (4,677)
                                          -------------  -------------

 Income before income taxes                  1,335,037        349,035
 Income taxes                                  492,664        128,812
                                          -------------  -------------

 Net income                               $    842,373   $    220,223
                                          =============  =============

 PER SHARE OF COMMON STOCK
   Basic earnings                         $       0.07   $       0.02
   Diluted earnings                       $       0.07   $       0.02

 Weighted average number of common
  stock shares outstanding:
   Basic                                    11,835,288     11,835,330
   Diluted                                  11,835,288     11,835,330

 Cash dividends paid per share of
  common stock                            $     0.0313   $     0.0313

See Accompanying Notes to Condensed Consolidated Financial Statements

                                       4
<PAGE>

                     GOLDEN ENTERPRISES, INC. AND SUBSIDIARY
           CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)

                                           Thirteen          Thirteen
                                          Weeks Ended      Weeks Ended
                                           08/31/07          09/01/06
                                        ---------------   --------------

CASH FLOWS FROM OPERATING ACTIVITIES

 Cash received from customers           $   29,049,777    $  28,058,565
 Interest income                                40,789           35,987
 Rental income                                   7,633            4,783
 Miscellaneous income                            4,311            1,180
 Cash paid to suppliers and employees      (14,611,733)     (13,056,609)
 Cash paid for operating expenses          (13,336,325)     (13,253,826)
 Income taxes (paid)/received                 (339,443)        (492,671)
 Interest expenses paid                        (32,743)         (53,569)
                                        ---------------   --------------
 Net cash from operating activities            782,266        1,243,840


CASH FLOWS FROM INVESTING ACTIVITIES

 Purchase of property, plant and
  equipment                                   (348,449)        (339,490)
 Proceeds from sale of property, plant
  and equipment                                 11,500           10,700
 Collection of notes receivable                 14,099           13,019
                                        ---------------   --------------
 Net cash used in investing activities        (322,850)        (315,771)


CASH FLOWS FROM FINANCING ACTIVITIES

 Debt proceeds                               5,252,017        3,591,714
 Debt repayments                            (5,880,880)      (3,912,555)
 Change in checks outstanding in excess
  of bank balances                             429,418         (238,995)
 Cash dividends paid                          (369,856)        (369,856)
 Purchases of treasury shares                     (301)               -
                                        ---------------   --------------
 Net cash provided by financing
  activities                                  (569,602)        (929,692)


Net change in cash and cash equivalents       (110,186)          (1,623)
Cash and cash equivalents at beginning
 of period                                     706,852          321,627
                                        ---------------   --------------
Cash and cash equivalents at end of
 period                                 $      596,666    $     320,004
                                        ===============   ==============

See Accompanying Notes to Condensed Consolidated Financial Statements

                                       5
<PAGE>

                     GOLDEN ENTERPRISES, INC. AND SUBSIDIARY
     CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - CONTINUED

       RECONCILIATION OF NET INCOME TO NET CASH FROM OPERATING ACTIVITIES
      FOR THE THIRTY-NINE WEEKS ENDED AUGUST 31, 2007 AND SEPTEMBER 1, 2006


                                                  Thirteen       Thirteen
                                                    Weeks          Weeks
                                                    Ended          Ended
                                                   08/31/07      09/01/06
                                                 -----------   ------------

 Net Income                                      $  842,373    $   220,223
   Adjustments to reconcile net income to net
    cash provided by operating activities:
 Depreciation and amortization                      573,056        553,933
 Gain on sale of property and equipment             (10,500)        (6,942)

Changes in operating assets and liabilities:
 Change in receivables - net                        655,549        233,627
 Change in inventories                              294,951        181,643
 Change in prepaid expenses                        (480,966)      (615,974)
 Change in other assets                              47,911        117,975
 Change in accounts payable                        (904,956)     1,042,782
 Change in accrued expenses                        (370,869)      (102,993)
 Change in salary continuation                      (17,504)       (16,575)
 Change in accrued income taxes                     153,221       (363,859)
                                                 -----------   ------------

 Net cash provided by operating activities       $  782,266    $ 1,243,840
                                                 ===========   ============

See Accompanying Notes to Condensed Consolidated Financial Statements

                                       6
<PAGE>

                     GOLDEN ENTERPRISES, INC. AND SUBSIDIARY

        NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)


1.   The accompanying  unaudited condensed  consolidated financial statements of
     Golden  Enterprises,  Inc. (the "Company") have been prepared in accordance
     with  accounting  principles  generally  accepted  in the United  States of
     America (GAAP) for interim financial  information and with the instructions
     to Form 10-Q and Article 10 to  Regulation  S-X.  Accordingly,  they do not
     include  all  information  and  footnotes  required  by GAAP  for  complete
     financial  statements.  In  the  opinion  of  management,  all  adjustments
     (consisting  only  of  normal,  recurring  accruals)  necessary  for a fair
     presentation  have been  included.  For further  information,  refer to the
     consolidated  financial  statements  and  footnotes  included in the Golden
     Enterprises, Inc. and subsidiary ("the Company") Annual Report on Form 10-K
     for year ended June 1, 2007.

2.   The consolidated  results of operations for the thirteen weeks ended August
     31, 2007 are not  necessarily  indicative of the results to be expected for
     the fifty-two week fiscal year ending May 30, 2008.

3.   The following  tables  summarize the prepaid assets  accounts at August 31,
     2007 and September 1, 2006:

                                    Prepaid Breakdown


                                       August 31, 2007        September 1, 2006
                                      -----------------      -------------------

     Truck Shop Supplies               $       694,622        $         686,045
     Insurance Deposit                         227,640                  227,640
     Slotting Fees                             218,292                  191,949
     Deferred Advertising Fees                 617,625                  592,498
     Prepaid Insurance                         194,367                  336,516
     Prepaid Taxes/Licenses                    116,092                  122,322
     Prepaid Dues/Supplies                       6,872                   36,919
     Other                                      28,356                   30,544
                                      -----------------      -------------------

                                       $     2,103,866        $       2,224,433
                                      =================      ===================

4.   The principal raw materials used in the  manufacture of the Company's snack
     food  products  are  potatoes,  corn,  vegetable  oils and  seasoning.  The
     principal supplies used are flexible film, cartons,  trays, boxes and bags.
     These raw  materials  and  supplies  are  generally  available  in adequate
     quantities  in the open  market from  sources in the United  States and are
     generally contracted up to a year in advance.

5.   Inventories are stated at the lower of cost or market.  Cost is computed on
     the first-in, first-out method.

6.   In June 2006, the Financial  Accounting  Standards Board (FASB) issued FASB
     Interpretation  No. 48,  "Accounting  For  Uncertainty in Income Taxes - an
     Interpretation  of FASB Statement  109",  (FIN 48). FIN 48 is effective for
     fiscal years  beginning  after December 15, 2006. FIN 48 was adopted in the
     current period and it did not have a material  impact on the current period
     financial position, results of operations or cash flows.

                                       7
<PAGE>

7.   The following table provides a  reconciliation  of the denominator  used in
     computing  basic  earnings per share to the  denominator  used in computing
     diluted earnings per share for the thirty-nine  weeks ended August 31, 2007
     and September 1, 2006:

                                                        Thirteen      Thirteen
                                                          Weeks         Weeks
                                                          Ended         Ended
                                                        08/31/07       09/01/06
                                                      --------------------------

Weighted average number of common shares used in       11,835,288    11,835,330
 computing basic earnings per share
Effect of dilutive stock options                                0             0
                                                      ------------  ------------

Weighted average number of common shares and dilutive
 potential common stock used in computing dilutive
 earnings per share                                    11,835,288    11,835,330
                                                      ============  ============

Stock options excluded from the above reconciliation
 because they are anti-dilutive                           369,000       369,000
                                                      ============  ============

8.   The Company's note payable was paid in full during the thirteen weeks ended
     August 31, 2007.

9.   The Company has a letter of credit in the amount of $2,668,846  outstanding
     at August 31, 2007, compared to $2,668,846 at September 1, 2006. The letter
     of credit supports the Company's commercial self-insurance program.

10.  The Company has a  line-of-credit  agreement with a local bank that permits
     borrowing up to $2 million.  The line-of-credit is subject to the Company's
     continued credit worthiness and compliance with the terms and conditions of
     the advance application. The Company's line-of-credit debt as of August 31,
     2007 was $264,712 with an interest rate of 8.25%,  leaving the Company with
     $1,735,288 of credit availability.  The Company's line-of-credit debt as of
     September 1, 2006 was $171,460 with an interest rate of 8.25%,  leaving the
     Company with $1,828,540 of credit availability.

11.  The Company's  financial  instruments that are exposed to concentrations of
     credit risk consist primarily of cash equivalents and trade receivables.

     The  Company  maintains  deposit  relationships  with high  credit  quality
     financial  institutions.  The Company's trade receivables  result primarily
     from its snack food operations and reflect a broad customer base, primarily
     large grocery store chains located in the Southeastern  United States.  The
     Company routinely  assesses the financial  strength of its customers.  As a
     consequence, concentrations of credit risk are limited.

     The Company's notes receivable require  collateral and management  believes
     they are well secured.

                                       8
<PAGE>


             REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
             -------------------------------------------------------



We have reviewed the accompanying  interim  consolidated balance sheet of Golden
Enterprises,  Inc. and subsidiary as of August 31, 2007 and the related  interim
consolidated  statements  of income and cash flows for the thirteen  week period
then ended.  These financial  statements are the responsibility of the Company's
management.

We conducted our review in accordance  with standards  established by the Public
Accounting  Oversight  Board  (United  States).  A review of  interim  financial
statements consists  principally of applying analytical  procedures to financial
data and making  inquiries of persons  responsible  for financial and accounting
matters. It is substantially less in scope than an audit conducted in accordance
with the  standards  of the  Public  Company  Accounting  Oversight  Board,  the
objective of which is the  expressions  of an opinion  regarding  the  financial
statements taken as a whole. Accordingly, we do not express such an opinion.

Based on our review, we are not aware of any material  modifications that should
be made to the  accompanying  financial  statements for them to be in conformity
with accounting principles generally accepted in the United States of America.

We  previously  audited in accordance  with the standards of the Public  Company
Accounting Oversight Board (United States), the consolidated balance sheet as of
June 1, 2007 and the related consolidated  statements of operations,  changes in
stockholders'  equity  and cash  flows  for the  fiscal  year  then  ended  (not
presented  herein),  and in our  report  dated  July 31,  2007 we  expressed  an
unqualified opinion on those consolidated financial statements.  In our opinion,
the information set forth in the  accompanying  condensed  consolidated  balance
sheet as of June 1, 2007, is fairly stated in all material  respects in relation
to the consolidated balance sheet from which it has been derived.






Birmingham, Alabama
October 4, 2007                        DUDLEY, HOPTON-JONES, SIMS & FREEMAN PLLP

                                       9
<PAGE>

                                     ITEM 2
                                     ------

                     MANAGEMENT'S DISCUSSION AND ANALYSIS OF
                  FINANCIAL CONDITION AND RESULTS OF OPERATIONS

Management's  discussion and analysis of our financial  condition and results of
operations are based upon the condensed consolidated financial statements, which
have been prepared in accordance with accounting  principles  generally accepted
in the United States.  This  discussion  should be read in conjunction  with our
recent SEC  filings,  including  Form 10-K for the year ended June 1, 2007.  The
preparation  of these  financial  statements  requires us to make  estimates and
judgments  about  future  events  that  affect the  reported  amounts of assets,
liabilities,  revenues and expenses, and the related disclosures.  Future events
and their effects  cannot be  determined  with  absolute  certainty.  Therefore,
management's  determination of estimates and judgments about the carrying values
of assets and liabilities requires the exercise of judgment in the selection and
application  of  assumptions  based on  various  factors,  including  historical
experience,  current and expected economic conditions and other factors believed
to be reasonable under the  circumstances.  We routinely  evaluate our estimates
including those considered  significant and discussed in detail in Form 10-K for
the year ended June 1, 2007.  Actual  results  may differ  from these  estimates
under different assumptions or conditions and such differences may be material.

OVERVIEW

The Company  manufactures  and  distributes a full line of snack items,  such as
potato chips,  tortilla  chips,  corn chips,  fried pork skins,  baked and fried
cheese  curls,  onion  rings and puff corn.  The  products  are all  packaged in
flexible bags or other suitable wrapping material. The Company also sells a line
of cakes and cookie items, canned dips, pretzels, peanut butter crackers, cheese
crackers, dried meat products and nuts packaged by other manufacturers using the
Golden Flake label.

No single  product or product line  accounts for more than 50% of the  Company's
sales,  which  affords  some  protection  against  loss of volume  due to a crop
failure of major agricultural raw materials. Raw materials used in manufacturing
and  processing  the  Company's  snack food  products are  purchased on the open
market and under  contract  through  brokers and directly from growers.  A large
part of the raw materials used by the Company consists of farm commodities which
are  subject to  precipitous  changes in supply and price.  Weather  varies from
season to season and directly affects both the quality and supply available. The
Company has no control of the agricultural  aspects and its profits are affected
accordingly.

The  Company  sells  its  products  through  its  own  sales   organization  and
independent  distributors to commercial  establishments  that sell food products
primarily in the  Southeastern  United  States.  The  products  are  distributed
through the independent distributors and approximately 429 route representatives
who are supplied with selling inventory by the Company's  trucking fleet. All of
the route  representatives  are  employees of the Company and use the  Company's
direct-store delivery system.


OTHER MATTERS

Transactions  with  related  parties,  reported  in  Note  12 of  the  Notes  to
Consolidated  Financial  Statements  in the Annual  Report to  Stockholders  for
fiscal year ended June 1, 2007,  are conducted on an  arm's-length  basis in the
ordinary course of business.

                                       10
<PAGE>


LIQUIDITY AND CAPITAL RESOURCES

Working  Capital was $4,264,588 at June 1, 2007 and $5,005,635 at the end of the
first quarter.  Net cash provided by operating  activities  amounted to $782,266
for the thirteen weeks ended August 31, 2007 compared to $1,243,840 for the same
period last year.

Cash  dividends of $369,856 were paid during this year's first quarter  compared
to $369,856  last year.  Cash was used to  purchase 96 shares of treasury  stock
this quarter in the amount of $301. The Company's current ratio was 1.49 to 1.00
at August 31, 2007.

Accounts Receivable and Allowance for Doubtful Accounts

At August 31, 2007 and June 1, 2007 the Company had accounts  receivables in the
amount of $7,802,878 and $8,458,427,  net of an allowance for doubtful  accounts
of $70,000 and $112,915,  respectively.  The Company  purchased credit insurance
for accounts  receivable  during the thirteen weeks which reduced  allowance for
doubtful  accounts to $70,000.  Without  credit  insurance,  the  allowance  for
doubtful accounts would have been $96,316 compared to $112,915 last year.

The following  table  summarizes  the  Company's  customer  accounts  receivable
profile as of August 31, 2007:

          Amount Range                      No. of Customers
          ------------                      ----------------

    Less than $1,000.00                                1,242
    $1,001.00-$10,000.00                                 535
    $10,001.00-$100,000.00                               112
    $100,001.00-$500,000.00                                8
    $500,001.00-$1,000,000.00                              1
    $1,000,001.00-$2,500,000.00                            0
                                                       -----

    Total All Accounts                                 1,898
                                                       =====


The following table  summarizes the significant  contractual  obligations of the
Company as of August 31, 2007:

Contractual
 Obligations           Total       Current     2-3 Years   4-5 Years  Thereafter
------------        ------------  ----------  ----------  ----------  ----------
Vehicle Lease       $   461,247   $ 109,713   $ 219,427   $ 132,107   $       -
Salary Continuation
 Plan                 1,686,810     124,331     280,476     328,967     953,036
                    ------------  ----------  ----------  ----------  ----------
Total Contractual
 Obligations        $ 2,148,057   $ 234,044   $ 499,903   $ 461,074   $ 953,036
                    ============  ==========  ==========  ==========  ==========

                                       11
<PAGE>

Other Commitments

Available   cash,   cash  from   operations  and  available   credit  under  the
line-of-credit   are  expected  to  be  sufficient  to  meet   anticipated  cash
expenditures and normal operating requirements for the foreseeable future.

OPERATING RESULTS

For the thirteen weeks ended August 31, 2007, net sales  increased 2.0% from the
comparable  period in fiscal 2007.  This year's first  quarter cost of sales was
50.7% of net sales compared to 52.7% for last year's first quarter.  This year's
first quarter,  selling,  general, and administrative expenses were 44.7% of net
sales compared to 46.0% for last year's first quarter.

The following tables compare manufactured products to resale products:

                Manufactured Products-Resale Products

                               Thirteen Weeks Ended    Thirteen Weeks Ended
                                   August 31, 2007       September 1, 2006
Sales                                           %                       %
Manufactured Products          $ 22,933,096    80.8%   $ 22,241,872    79.9%
Resale Products                   5,461,132    19.2%      5,583,066    20.1%
                               ------------- -------   ------------- -------
Total                          $ 28,394,228   100.0%   $ 27,824,938   100.0%
                               ============= =======   ============= =======


Gross Margin                                    %                       %
Manufactured Products          $ 12,210,069    53.2%   $ 10,672,078    48.0%
Resale Products                   1,776,360    32.5%     2,481,658     44.4%
                               ------------- -------   ------------- -------
Total                          $ 13,986,429    49.3%   $ 13,153,736    47.3%
                               ============= =======   ============= =======

The  Company's  gain on sales of assets for the thirteen  weeks ended August 31,
2007 in the  amount  of  $10,500  was  from  the  sale  of  used  transportation
equipment.

For last  year's  thirteen  weeks the gain on sale of assets was $6,942 from the
sale of used equipment for cash.

The Company's  effective  tax rate for the first  quarter was 36.9%  compared to
36.9% for the last year's first quarter.

MARKET RISK

The  principal  market's  risks  (i.e.,  the risk of loss  arising  from adverse
changes  in market  rates and  prices),  to which the  Company is  exposed,  are
interest rates on its bank loans, and commodity prices affecting the cost of its
raw materials.

Included in the Company's cash and cash  equivalents  are short-term  marketable
securities.  Presently,  these are  variable  rate money  market  mutual  funds.
Assuming August 31, 2007 variable rate investment  levels and a one-point change
in interest rates would impact interest income by $3,254 on an annual basis.

                                       12
<PAGE>

The Company is subject to market risk with  respect to  commodities  because its
ability to recover  increased costs through higher pricing may be limited by the
competitive  environment  in which it operates.  The Company  purchases  its raw
materials on the open market and under contract through brokers or directly from
growers.  Future  contracts  have been  used  occasionally  to hedge  immaterial
amounts of commodity purchases, but none are presently being used.

INFLATION

Certain  costs and  expenses  of the  Company are  affected  by  inflation.  The
Company's  prices for its  products  over the past several  years have  remained
relatively  flat. The Company will contend with the effect of further  inflation
through efficient purchasing,  improved  manufacturing  methods,  pricing and by
monitoring and controlling expenses.

ENVIRONMENTAL MATTERS

There have been no material effects of compliance with  governmental  provisions
regulating discharge of materials into the environment.

FORWARD-LOOKING STATEMENTS

This discussion contains certain  forward-looking  statements within the meaning
of the Private  Securities  Litigation  Reform Act of 1995. Actual results could
differ materially from those forward-looking statements.  Factors that may cause
actual  results  to  differ  materially  include  price  competition,   industry
consolidation,  raw  material  costs and  effectiveness  of sales and  marketing
activities,  as  described in the  Company's  filings  with the  Securities  and
Exchange Commission.

                                     ITEM 3
                                     ------

                          QUANTITATIVE AND QUALITATIVE
                          DISCLOSURE ABOUT MARKET RISK

Included in Item 2, Management's  Discussion and Analysis of Financial Condition
and Results of Operations- Market Risk beginning on page 12.

                                     ITEM 4
                                     ------

                             CONTROLS AND PROCEDURES

The  Company's  management,  with  the  participation  of  the  Company's  Chief
Executive Officer and Chief Financial  Officer,  has evaluated the effectiveness
of the Company's  disclosure controls and procedures (as such term is defined in
Rules  13a-15(e) and  15d-15(e)  under the  Securities  Exchange Act of 1934, as
amended  (the  "Exchange  Act")),  as of the end of the  period  covered by this
report.  Any controls and  procedures,  no matter how well designed and operated
can  provide  only  reasonable   assurance  of  achieving  the  desired  control
objectives.  Based on such evaluation, the Company's Chief Executive Officer and
Chief Financial  Officer have concluded that, as of the end of such period,  the
Company's  disclosure controls and procedures provided reasonable assurance that
the disclosure controls and procedures were effective in recording,  processing,
summarizing  and  reporting,  on a  timely  basis,  information  required  to be
disclosed  by the  Company in the  reports  that it files or  submits  under the
Exchange  Act  and  in  accumulating  and  communicating   such  information  to
management,  including the Company's Chief Executive Officer and Chief Financial
Officer, as appropriate to allow timely decisions regarding required disclosure.

                                       13
<PAGE>

The  Company's  management,  with  the  participation  of  the  Company's  Chief
Executive  Officer and Chief Financial  Officer,  conducted an evaluation of the
Company's  internal  control over financial  reporting to determine  whether any
changes occurred during the Company's first fiscal quarter ended August 31, 2007
that have materially  affected,  or are reasonably likely to materially  affect,
the  Company's  internal  control  over  financial  reporting.   Based  on  that
evaluation,  there has been no such  change  during the  period  covered by this
report.

                            PART II OTHER INFORMATION

                                     ITEM 1
                                     ------

                                LEGAL PROCEEDINGS

There are no  material  pending  legal  proceedings  against  the Company or its
subsidiary  other than  routine  litigation  incidental  to the  business of the
Company and its subsidiary.

                                    ITEM 1-A
                                    --------

                                  RISK FACTORS

There are no material  changes in our risk factors  from those  disclosed in our
2007 Annual Report on Form 10-K.

                                     ITEM 2
                                     ------

                     UNREGISTERED SALES OF EQUITY SECURITIES
                               AND USE OF PROCEEDS

The Company did not sell any equity securities during the period covered by this
report.

Registrant Purchases of Equity Securities.

Cash was used to purchase 96 shares of treasury stock this year in the amount of
$301.

ISSUER PURCHASES OF EQUITY SECURITIES
--------------------------------------------------------------------------------
Period                                         (c) Total
                                                Number of
                                                 Shares      (d) Maximum Number
                                               (or Units)     (or Approximate
                                              Purchased as    Dollar Value) of
                      (a) Total                 Part of       Shares (or Units)
                      Number of  (b) Average    Publicly       that May Yet Be
                        Shares    Price Paid    Announced      Purchased Under
                      (or Units)   per Share    Plans or          the Plans
                      Purchased    (or Unit)    Programs         or Programs
--------------------------------------------------------------------------------
Month #1
June 1 to June 30
--------------------------------------------------------------------------------
Month #2
July 1 to July 31         96         3.130                          $301
--------------------------------------------------------------------------------
Month #3
August 1 to August 31
--------------------------------------------------------------------------------

Total                     96         3.130                          $301
--------------------------------------------------------------------------------

                                       14
<PAGE>

                                     ITEM 3
                                     ------

                         DEFAULTS UPON SENIOR SECURITIES

     Not applicable.

                                     ITEM 4
                                     ------

                            SUBMISSION OF MATTERS TO
                           A VOTE OF SECURITY HOLDERS

     Not applicable.

                                     ITEM 5
                                     ------

                                OTHER INFORMATION

     Not applicable.

                                     ITEM 6
                                     ------

                                    EXHIBITS

     (3)  Articles of Incorporation and By-laws of Golden Enterprises, Inc.


     3.1  Certificate of Incorporation of Golden Enterprises, Inc. (originally
          known as "Golden Flake, Inc.") dated December 11, 1967 (incorporated
          by reference to Exhibit 3.1 to Golden Enterprises, Inc. May 31, 2004
          Form 10-K filed with the Commission).


     3.2  Certificate of Amendment of Certificate of Incorporation of Golden
          Enterprises, Inc. dated December 22, 1976 (incorporated by reference
          to Exhibit 3.2 to Golden Enterprises, Inc. May 31, 2004 Form 10-K
          filed with the Commission).


     3.3  Certificate of Amendment of Certificate of Incorporation of Golden
          Enterprises, Inc. dated October 2, 1978 (incorporated by reference to
          Exhibit 3 to Golden Enterprises, Inc. May 31, 1979 Form 10-K filed
          with the Commission).

     3.4  Certificate of Amendment of Certificate of Incorporation of Golden
          Enterprises, Inc. dated October 4, 1979 (incorporated by reference to
          Exhibit 3 to Golden Enterprises, Inc. May 31, 1980 Form 10-K filed
          with the Commission).

                                       15
<PAGE>

     3.5  Certificate of Amendment of Certificate of Incorporation of Golden
          Enterprises, Inc. dated September 24, 1982 (incorporated by reference
          to Exhibit 3.1 to Golden Enterprises, Inc. May 31, 1983 Form 10-K
          filed with the Commission).

     3.6  Certificate of Amendment of Certificate of Incorporation of Golden
          Enterprises, Inc. dated September 22, 1983 (incorporated by reference
          to Exhibit 19.1 to Golden Enterprises, Inc. Form 10-Q Report for the
          quarter ended November 30, 1983 filed with the Commission).

     3.7  Certificate of Amendment of Certificate of Incorporation of Golden
          Enterprises. Inc. dated October 3, 1985 (incorporated by reference to
          Exhibit 19.1 to Golden Enterprises, inc. Form l0-Q Report for the
          quarter ended November 30, 1985 filed with the Commission).

     3.8  Certificate of Amendment of Certificate of Incorporation of Golden
          Enterprises, Inc. dated September 23, 1987 (incorporated by reference
          to Exhibit 3.1 to Golden Enterprises, Inc. May 31, 1988 Form 10-K
          filed with the Commission).

     3.9  By-Laws of Golden Enterprises, Inc. (incorporated by reference to
          Exhibit 3.4 to Golden Enterprises, Inc. May 31, 1988 Form 10-K filed
          with the Commission).

     (10) Material Contracts.

    10.1  A Form of Indemnity Agreement executed by and between Golden
          Enterprises, Inc. and Each of its Directors (incorporated by reference
          as Exhibit 19.1 to Golden Enterprises, Inc. Form 10-Q Report for the
          quarter ended November 30, 1987 filed with the Commission).

    10.2  Amended and Restated Salary Continuation Plans for John S. Stein
          (incorporated by reference to Exhibit 19.1 to Golden Enterprises, Inc.
          May 31, 1990 Form 10-K filed with the Commission).

    10.3  Indemnity Agreement executed by and between the Company and S. Wallace
          Nall, Jr. (incorporated by reference as Exhibit 19.4 to Golden
          Enterprises, Inc. May 31, 1991 Form 10-K filed with the Commission).

    10.4  Salary Continuation Plans - Retirement Disability and Death Benefits
          for F. Wayne Pate (incorporated by reference to Exhibit 19.1 to Golden
          Enterprises, Inc. May 31, 1992 Form 10-K filed with the Commission).

    10.5  Indemnity Agreement executed by and between the Registrant and F.
          Wayne Pate (incorporated by reference as Exhibit 19.3 to Golden
          Enterprises, Inc. May 31, 1992 Form 10-K filed with the Commission).

    10.6  Golden Enterprises, Inc. 1996 Long-Term Incentive Plan (incorporated
          by reference as Exhibit 10.1 to Golden Enterprises, Inc. May 31, 1997
          Form 10-K filed with the Commission).

                                       16
<PAGE>

    10.7  Equipment Purchase and Sale Agreement dated October 2000 whereby
          Golden Flake Snack Foods. Inc., a wholly-owned subsidiary of Golden
          Enterprises, Inc., sold the Nashville, Tennessee Plant Equipment
          (incorporated by reference as Exhibit 10.1 to Golden Enterprises, Inc.
          May 31, 2001 Form 10-K filed with the Commission).

    10.8  Real Property Contract of Sale dated October 2000 whereby Golden Flake
          Snack Foods, Inc. sold the Nashville, Tennessee Plant Real Property
          (incorporated by reference as Exhibit 10.2 to Golden Enterprises, Inc.
          May 31, 2001 Form 10-K filed with the Commission).

    10.9  Amendment to Salary Continuation Plans, Retirement and Disability for
          F. Wayne Pate dated April 9. 2002 (incorporated by reference to
          Exhibit 10.2 to Golden Enterprises, Inc. May 31, 2002 Form 10-K filed
          with the Commission).

   10.10  Amendment to Salary Continuation Plans, Retirement and Disability for
          John S. Stein dated April 9, 2002 (incorporated by reference to
          Exhibit 10.3 to Golden Enterprises, Inc. May 31, 2002 Form 10-K filed
          with the Commission).

   10.11  Amendment to Salary Continuation Plan, Death Benefits for John S.
          Stein dated April 9, 2002 (incorporated by reference to Exhibit 10.4
          to Golden Enterprises, Inc. May 31, 2002 Form 10-K filed with the
          Commission).

   10.12  Retirement and Consulting Agreement for John S. Stein dated April 9,
          2002 (incorporated by reference to Exhibit 10.5 to Golden Enterprises,
          Inc. May 31, 2002 Form 10-K filed with the Commission).

   10.13  Salary Continuation Plan for Mark W. McCutcheon dated May 15, 2002
          (incorporated by reference to Exhibit 10.6 to Golden Enterprises, Inc.
          May 31, 2002 Form 10-K filed with the Commission).

   10.14  Trust Under Salary Continuation Plan for Mark W. McCutcheon dated May
          15, 2002 (incorporated by reference to Exhibit 10.7 to Golden
          Enterprises, Inc. May 31, 2002 Form 10-K filed with the Commission).

   10.15  Lease of aircraft executed by and between Golden Flake Snack Foods,
          Inc., a wholly-owned subsidiary of Golden Enterprises, Inc., and Joann
          F. Bashinsky dated February 1, 2006 (incorporated by reference to
          Exhibit 10.15 to Golden Enterprises, Inc. June 2, 2006 Form 10-K filed
          with the Commission).

     (31) Certifications

    31.1  Certification of Chief Executive Officer pursuant to Section 302 of
          the Sarbanes Oxley Act of 2002.

    31.2  Certification of Chief Financial Officer pursuant to Section 302 of
          the Sarbanes Oxley Act of 2002.

                                       17
<PAGE>

    32.1  Certification of Chief Executive Officer pursuant to Section 906 of
          the Sarbanes Oxley Act of 2002,

    32.2  Certification of Chief Financial Officer pursuant to Section 906 of
          the Sarbanes-Oxley Act of 2002.

     (99) Additional Exhibits

    99.1  A copy of excerpts of the Last Will and Testament and Codicils thereto
          of Sloan Y. Bashinsky, Sr. and of the SYB Common Stock Trust created
          by Sloan Y. Bashinsky, Sr. providing for the creation of a Voting
          Committee to vote the shares of common stock of Golden Enterprises,
          Inc. held by SYB, Inc. and the Estate/Testamentary Trust of Sloan Y.
          Bashinsky, Sr. (Incorporated by reference to Exhibit 99.1 to Golden
          Enterprises, Inc. May 31, 2005 Form 10-k filed with the Commission).

                                   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.


                                                  GOLDEN ENTERPRISES, INC.
                                                  ------------------------
                                                         (Registrant)

     Dated: October 9, 2007                       /s/ Mark W. McCutcheon
            ---------------                       ----------------------
                                                  Mark W. McCutcheon
                                                  President and
                                                  Chief Executive Officer

     Dated: October 9, 2007                       /s/ Patty Townsend
            ---------------                       ------------------
                                                  Patty Townsend
                                                  Vice-President and
                                                  Chief Financial Officer
                                                  (Principal Accounting Officer)


                                       18