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 (twenty-six weeks) period ended November 30, 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                      (Zip Code)
              Offices)

                                 (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 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 December 31, 2007
                                                       Outstanding at
             Class                                    December 31, 2007
             -----                                    -----------------
Common Stock, Par Value $0.66                            11,816,752
2/3



<PAGE>


                              GOLDEN ENTERPRISES, INC.
                                       INDEX

Part I.      FINANCIAL INFORMATION                                      Page No.
Item 1       Financial Statements (unaudited)
             Condensed Consolidated Balance Sheets
             November 30, 2007 (unaudited) and June 1, 2007                3
             Condensed Consolidated Statements of Income (unaudited)
             Thirteen Weeks and Twenty-Six Weeks Ended November 30,
              2007 and December 1, 2006                                    4
             Condensed Consolidated Statements of Cash Flows
             (unaudited)- Twenty-Six Weeks Ended November 30, 2007 and
              December 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                                       14
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                                             16
Item 6       Exhibits                                                      16


                                       2
<PAGE>


<TABLE>
<CAPTION>
                    PART I. FINANCIAL INFORMATION
                    ITEM 1. FINANCIAL STATEMENTS
               GOLDEN ENTERPRISES, INC. AND SUBSIDIARY
                CONDENSED CONSOLIDATED BALANCE SHEETS
                                                                       (Unaudited)        (Audited)
                                                                       November 30,        June 1,
                                                                               2007                2007
                                                                       ------------    ----------------
                                                ASSETS
CURRENT ASSETS
<S>                                                                   <C>             <C>
 Cash and cash equivalents                                            $     657,033   $         706,852
 Receivables, net                                                         7,652,396           8,458,427
 Notes receivable, current                                                   60,490              58,126
 Inventories:
  Raw materials and supplies                                              1,742,620           1,340,389
  Finished goods                                                          3,019,417           3,035,285
                                                                       ------------    ----------------
                                                                          4,762,037           4,375,674
                                                                       ------------    ----------------

 Prepaid expenses                                                         1,765,583           1,622,900
 Deferred income taxes                                                      583,179             583,179
                                                                       ------------    ----------------
  Total current assets                                                   15,480,718          15,805,158
                                                                       ------------    ----------------

PROPERTY, PLANT AND EQUIPMENT                                            12,771,644          12,956,633

OTHER ASSETS
 Long-term note receivable                                                1,627,779           1,658,630
 Other assets                                                             2,860,626           2,905,007
                                                                       ------------    ----------------

   Total                                                              $  32,740,767   $      33,325,428
                                                                       ============    ================

CURRENT LIABILITIES
 Checks outstanding in excess of bank balances                        $   1,615,637   $       1,385,663
 Accounts payable                                                         3,446,766           3,760,499
 Accrued income taxes                                                       171,685             318,198
 Other accrued expenses                                                   4,574,149           5,060,758
 Salary continuation plan                                                   126,834             121,877
 Note payable - current                                                           -             270,625
 Line of credit outstanding                                                 812,562             622,950
                                                                       ------------    ----------------

  Total current liabilities                                              10,747,633          11,540,570
                                                                       ------------    ----------------

LONG-TERM LIABILITIES
 Salary continuation plan                                                 1,541,876           1,582,437
 Deferred income taxes                                                      752,298             752,298
                                                                       ------------    ----------------

  Total long-term liabilities                                             2,294,174           2,334,735
                                                                       ------------    ----------------

STOCKHOLDER'S EQUITY
 Common stock - $.66-2/3 par value:
 35,000,000 shares authorized
 Issued 13,828,793 shares                                                 9,219,195           9,219,195
 Additional paid-in capital                                               6,497,954           6,497,954
 Retained earnings                                                       14,708,558          14,410,568
                                                                       ------------    ----------------
                                                                         30,425,707          30,127,717
 Less: Cost of common shares in treasury (2,009,695 at November 30,
  2007
  and 1,993,463 at June 1, 2007)                                       (10,726,747)        (10,677,594)
                                                                       ------------    ----------------

  Total stockholder's equity                                             19,698,960          19,450,123
                                                                       ------------    ----------------

   Total                                                              $  32,740,767   $      33,325,428
                                                                       ============    ================
</TABLE>

See Accompanying Notes to Condensed Consolidated Financial Statements


                                       3
<PAGE>


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


<TABLE>
<CAPTION>
                                       Thirteen        Thirteen      Twenty-Six       Twenty-Six
                                         Weeks          Weeks           Weeks           Weeks
                                         Ended          Ended           Ended           Ended
                                       11/30/07        12/01/06       11/30/07         12/01/06
                                   ---------------- -------------- --------------- ----------------

<S>                                 <C>             <C>            <C>             <C>
Net sales                           $   27,504,759  $  26,596,212  $   55,898,987  $    54,421,150
Cost of sales                           14,213,757     14,235,696      28,621,556       28,906,898
                                    --------------- -------------- --------------- ----------------
Gross margin                            13,291,002     12,360,516      27,277,431       25,514,252

Selling, general and administrative
 expenses                               12,986,925     12,756,527      25,668,807       25,556,551
                                    --------------- -------------- --------------- ----------------
  Operating income (loss)                  304,077       (396,011)      1,608,624          (42,299)
                                    --------------- -------------- --------------- ----------------

Other income (expenses):
  Gain on sale of assets                    34,245         28,968          44,745           35,910
  Interest expense                         (42,175)       (65,593)        (74,918)        (119,162)
  Other income                              47,393         53,663         100,126           95,613
                                    --------------- -------------- --------------- ----------------
 Total other income                         39,463         17,038          69,953           12,361
                                    --------------- -------------- --------------- ----------------

 Income (loss) before income taxes         343,540       (378,973)      1,678,577          (29,938)
 Income taxes                              148,215       (139,845)        640,879          (11,033)
                                    --------------- -------------- --------------- ----------------
 Net income (loss)                  $      195,325  $    (239,128) $    1,037,698  $       (18,905)
                                    =============== ============== =============== ================

 PER SHARE OF COMMON STOCK
  Basic earnings                    $         0.02  $       (0.02) $         0.09  $             -
  Diluted earnings                  $         0.02  $       (0.02) $         0.09  $             -

 Weighted average number of common
  stock share outstanding:
  Basic                                 11,825,742     11,835,330      11,830,515       11,835,330
  Diluted                               11,825,742     11,835,330      11,830,515       11,835,330

 Cash dividends paid per share of
  common stock                      $       0.0313  $      0.0313  $       0.0626  $        0.0626
</TABLE>


See Accompanying Notes to Condensed Consolidated Financial Statements


                                       4
<PAGE>


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


<TABLE>
<CAPTION>
                                                            Twenty-Six       Twenty-Six
                                                            Weeks Ended      Weeks Ended
                                                             11/30/07         12/01/06
                                                          ---------------  ---------------

CASH FLOWS FROM OPERATING ACTIVITIES

<S>                                                      <C>              <C>
 Cash received from customers                            $     56,705,018 $     55,193,626
 Interest income                                                   76,396           71,403
 Rental income                                                     16,924           20,135
 Miscellaneous income                                               6,806            4,075
 Cash paid to suppliers & employees                          (28,513,530)     (28,462,413)
 Cash paid for operating expenses                            (25,957,638)     (25,301,140)
 Income taxes (paid)/received                                   (787,392)        (492,671)
 Interest expenses paid                                          (74,918)        (119,162)
                                                          ---------------  ---------------
 Net cash from operating activities                             1,471,666          913,853


CASH FLOWS FROM INVESTING ACTIVITIES

 Purchase of property, plant and equipment                      (957,016)        (683,221)
 Proceeds from sale of property, plant and equipment               46,945           50,049
 Collection of notes receivable                                    28,487           26,301
                                                          ---------------  ---------------
 Net cash used in investing activities                          (881,584)        (606,871)


CASH FLOWS FROM FINANCING ACTIVITIES

 Debt proceeds                                                 13,469,903        9,997,205
 Debt repayments                                             (13,550,916)      (9,199,783)
 Change in checks outstanding in excess of bank
  balances                                                        229,974        (114,852)
 Cash dividends paid                                            (739,709)        (739,712)
 Purchases of treasury shares                                    (49,153)                -
                                                          ---------------  ---------------
 Net cash used in financing activities                          (639,901)         (57,142)


Net change in cash and cash equivalents                          (49,819)          249,840
Cash and cash equivalents at beginning of period                  706,852          321,627
                                                          ---------------  ---------------
Cash and cash equivalents at end of period               $        657,033 $        571,467
                                                          ===============  ===============
</TABLE>

See Accompanying Notes to Condensed Consolidated Financial Statements


                                       5
<PAGE>

<TABLE>
<CAPTION>
                     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 TWENTY-SIX WEEKS ENDED NOVEMBER 30, 2007 AND DECEMBER 1, 2006



                                                       Twenty-Six        Twenty-Six
                                                       Weeks Ended      Weeks Ended
                                                        11/30/07          12/01/06
                                                     ---------------   --------------

<S>                                                 <C>               <C>
Net Income                                          $      1,037,698  $      (18,905)
  Adjustments to reconcile net income to net cash
   provided by
 operating activities:
Depreciation and amortization                              1,139,806        1,116,050
Gain on sale of property and equipment                      (44,745)         (35,910)


Change in receivables - net                                  806,031          772,476
Change in inventories                                      (386,363)        (668,919)
Change in prepaid expenses                                 (142,683)        (219,866)
Change in other assets                                        44,381          123,833
Change in accounts payable                                 (313,733)          322,524
Change in accrued expenses                                 (486,609)           59,955
Change in salary continuation                               (35,604)         (33,681)
Change in accrued income taxes                             (146,513)        (503,704)
                                                     ---------------   --------------

Net cash provided by operating activities           $      1,471,666  $       913,853
                                                     ===============   ==============
</TABLE>

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  twenty-six  weeks ended
     November  30,  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 November 30,
     2007 and December 1, 2006:

                              Prepaid Breakdown




                                November 30, 2007    December 1, 2006
                                ------------------   -----------------

Truck Shop Supplies            $           688,263  $          683,195
Insurance Deposit                          187,980             227,640
Slotting Fees                              123,967             160,450
Deferred Advertising Fees                  411,750             394,996
Prepaid Insurance                          185,452             177,292
Prepaid Taxes/Licenses                     144,960             130,439
Prepaid Dues/Supplies                        3,929              33,562
Other                                       19,282              20,751
                                ------------------   -----------------

                               $         1,765,583  $        1,828,325
                                ==================   =================

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 twenty-six weeks ended November 30, 2007
     and December 1, 2006:


                                                     ---------------------------
                                                       Twenty-Six    Twenty-Six
                                                      Weeks Ended   Weeks Ended
                                                        11/30/07      12/01/06
                                                     ---------------------------

Weighted average number of common shares used in
 computing basic                                         11,830,515   11,835,330
  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                                             11,830,515   11,835,330
                                                     ============== ============

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


8.   The Company has a letter of credit in the amount of $2,314,857  outstanding
     at November  30,  2007,  compared to  $2,668,846  at December 1, 2006.  The
     letter of credit supports the Company's commercial self-insurance program.

9.   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 November
     30, 2007 was $812,562 with an interest  rate of 7.75%,  leaving the Company
     with $1,187,438 of credit availability.  The Company's  line-of-credit debt
     as of  December  1, 2006 was  $1,471,363  with an  interest  rate of 8.25%,
     leaving the Company with $528,637 of credit availability.

10.  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 November 30, 2007 and the related interim
consolidated  statements of income and cash flows for the twenty-six 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
 January 10, 2008                   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 $4,733,085 at the end of the
second quarter. Net cash provided by operating activities amounted to $1,471,666
for the  twenty-six  weeks ended  November 30, 2007 compared to $913,853 for the
same period last year.

Cash dividends of $369,853 were paid during this year's second quarter  compared
to $369,856 last year. Cash was used to purchase 16,136 shares of treasury stock
this quarter in the amount of $48,852.  The Company's  current ratio was 1.44 to
1.00 at November 30, 2007 compared to 1.30 to 1.00 at December 1, 2006.

Accounts Receivable and Allowance for Doubtful Accounts

At November  30, 2007 and June 1, 2007 the Company had accounts  receivables  in
the amount of  $7,652,396  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 $98,553  compared to $112,915
last year.

The following table summarizes the Company's customer accounts receivable
profile as of November 30, 2007:

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

Less than $1,000.00                                           1,201
$1,001.00-$10,000.00                                            524
$10,001.00-$100,000.00                                          109
$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                                            1,843
                                                 ==================

The following table  summarizes the significant  contractual  obligations of the
Company as of November 30, 2007:

<TABLE>
<CAPTION>

Contractual Obligations           Total         Current       2-3 Years       4-5 Years      Thereafter
------------------------------ ------------  -------------  --------------  -------------  ---------------
<S>                            <C>           <C>            <C>             <C>            <C>
Vehicle Leases                 $  1,094,150  $     256,048  $      488,560  $     349,542  $             -
Salary Continuation Plan          1,668,710        126,834         286,123        335,590          920,163
                               ------------  -------------  --------------  -------------  ---------------
Total Contractual Obligations  $  2,762,860  $     382,882  $      774,683  $     685,132  $       920,163
                               ============  =============  ==============  =============  ===============
</TABLE>

                                       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  November 30, 2007,  net sales  increased 3.4% from
the comparable  period in fiscal 2007.  For the twenty-six  weeks ended November
30, 2007, net sales  increased  2.7% from the comparable  period in fiscal 2007.
This  year's  second  quarter  cost of sales was 51.7% of net sales  compared to
53.5% for last year's  second  quarter.  This year's  second  quarter,  selling,
general,  and administrative  expenses were 47.2% of net sales compared to 48.0%
for last year's second quarter.  This year's year to date, selling,  general and
administrative  expenses  were  45.9% of net  sales  compared  to 47.0% for last
year's year to date.

The following tables compare manufactured products to resale products:

<TABLE>
<CAPTION>
                                        Manufactured Products-Resale Products

                                  Thirteen Weeks Ended       Thirteen Weeks
                                                                   Ended
                               November 30, 2007            December 1, 2006
Sales                                                    %                              %
<S>                            <C>              <C>         <C>               <C>
Manufactured Products          $     22,147,538      80.5%  $     21,230,021        79.8%
Resale Products                       5,357,221      19.5%         5,366,191        20.2%
                               ---------------- ----------  ----------------  -----------
Total                          $     27,504,759     100.0%  $     26,596,212       100.0%
                               ================ ==========  ================  ===========


Gross Margin                                             %                              %
Manufactured Products          $     11,592,903      52.3%  $     10,017,471        47.2%
Resale Products                       1,698,099      31.7%         2,343,045        43.7%
                               ---------------- ----------  ----------------  -----------
Total                          $     13,291,002      48.3%  $     12,360,516        46.5%
                               ================ ==========  ================  ===========


                                 Twenty-Six Weeks Ended        Twenty-Six Weeks Ended
                               November 30, 2007            December 1, 2006
Sales                                                    %                              %
Manufactured Products          $     45,080,534      80.6%  $     43,471,893        79.9%
Resale Products                      10,818,453      19.4%        10,949,257        20.1%
                               ---------------- ----------  ----------------  -----------
Total                          $     55,898,987     100.0%  $     54,421,150       100.0%
                               ================ ==========  ================  ===========


Gross Margin                                             %                              %
Manufactured Products          $     23,802,650      52.8%  $     20,689,550        47.6%
Resale Products                       3,474,781      32.1%         4,824,702        44.1%
                               ---------------- ----------  ----------------  -----------
Total                          $     27,277,431      48.8%  $     25,514,252        46.9%
                               ================ ==========  ================  ===========
</TABLE>


The Company's gain on sales of assets for the thirteen weeks ended November 30,
2007 in the amount of $34,245 was from the sale of used transportation equipment
for cash.

For last year's thirteen weeks, the gain on sale of assets was $28,968 from the
sale of used equipment for cash.


                                       12
<PAGE>


The Company's  effective tax rate for the thirteen  weeks was 43.1%  compared to
-36.9% for the last year's  thirteen  weeks and 38.2% for the  twenty-six  weeks
this year and -36.9% last year.


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  November  30, 2007  variable  rate  investment  levels and a one-point
change in interest  rates would  impact  interest  income by $4,042 on an annual
basis.

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.  Commodity prices are projected to
reach record highs in 2008 which will have an effect on both  manufacturing  and
distribution  costs. 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 10.


                                       13
<PAGE>


                                     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.

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  second fiscal quarter ended November 30,
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  16,136  shares of treasury  stock for the  quarterly
period ended November 30, 2007 in the amount of $48,360. In addition, commission
fees in the sum of $492 were paid to the broker.


                                       14
<PAGE>



<TABLE>
<CAPTION>
Period                        (a) Total   (b) Average Price    (c) Total     (d) Maximum Number
                              Number of     Paid per Share     Number of       (or Approximate
                                Shares         (or Unit)         Shares       Dollar Value) of
                             (or Units)                       (or Units)      Shares (or Units)
                               Purchased                      Purchased as     that May Yet Be
                                                                Part of      Purchased Under the
                                                                Publicly      Plans or Programs
                                                               Announced
                                                                Plans or
                                                                Programs
---------------------------- ------------ ------------------ -------------- ---------------------
Month #1
<S>                          <C>          <C>                <C>            <C>
Sept. 1 to Sept. 30,                1,396              $3.00
---------------------------- ------------ ------------------ -------------- ---------------------
Month #2
October 1 to October 31            13,341              $3.00
---------------------------- ------------ ------------------ -------------- ---------------------
Month #3
November 1 to November 30           1,399              $3.00
---------------------------- ------------ ------------------ -------------- ---------------------
</TABLE>

                                     ITEM 3
                                     ------

                         DEFAULTS UPON SENIOR SECURITIES


Not applicable.

                                     ITEM 4
                                     ------

                            SUBMISSION OF MATTERS TO
                           A VOTE OF SECURITY HOLDERS

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

(a)  The Annual Meeting of Stockholders of Golden Enterprises,  Inc. was held on
     September 20, 2007.

(b)  All director nominees were elected.

(c)  The following is a tabulation of the voting for the election of Directors:

                              ELECTION OF DIRECTORS

                    Names                     Votes For          Votes Withheld

         John S. Stein                        9,823,413                 467,572
         Edward R. Pascoe                    10,210,420                  80,565
         John P. McKleroy, Jr.                9,880,657                 410,328
         James I. Rotenstreich               10,211,320                  79,665
         John S.P. Samford                   10,244,412                  46,573
         J. Wallace Nall, Jr.                 9,857,084                 433,901
         F. Wayne Pate                        9,823,489                 467,496
         Joann F. Bashinsky                   9,825,765                 465,220
         Mark W. McCutcheon                   9,927,260                 363,725


                                       15
<PAGE>


                                     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).


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).


                                       16
<PAGE>

(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 Company 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).


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).


                                       17
<PAGE>


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


3    1.1 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.


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).


                                       18
<PAGE>


                                   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: January 11, 2008                  /s/Mark W. McCutcheon
              ----------------                  ---------------------
                                                Mark W. McCutcheon
                                                President and
                                                Chief Executive Officer


       Dated:  January 11, 2008                 /s/ Patty Townsend
               ----------------                 ------------------
                                                Patty Townsend
                                                Vice-President and
                                                Chief Financial Officer
                                                (Principal Accounting Officer)


                                       19