PENNSAUKEN, N.J., Nov. 09, 2017 (GLOBE NEWSWIRE) -- J & J Snack Foods Corp. (NASDAQ:JJSF) today announced sales and earnings for its fourth quarter and year ended September 30, 2017.
Sales for the fourth quarter (14 weeks) increased 21% to $316.7 million from $262.2 million in last year’s fourth quarter (13 weeks). For the year ended September 30, 2017 (53 weeks), sales increased 9% to $1.084 billion from $992.8 million last year (52 weeks). Excluding sales from the extra week in 2017, sales increased approximately 12% for the fourth quarter and 7% for the year. Net earnings increased 18% to $24.3 million ($1.29 per diluted share) in this year’s fourth quarter compared to $20.6 million ($1.10 per diluted share) last year and for the year earnings increased 4% to $79.2 million ($4.21 per diluted share) from $76.0 million ($4.05 per diluted share).
Operating income increased 20% to $36.9 million this year from $30.7 million in the year ago fourth quarter. For the year, operating income increased 5% to $118.1 million from $112.8 million last year.
Gerald B. Shreiber, J & J’s President and Chief Executive Officer, commented, “Improved results in our fourth quarter were aided by strong performances in our food service group with particular strong sales of soft pretzels, churros, handhelds and certain bakery products. In addition we are benefitting and expect to benefit from several small but key acquisitions in soft pretzels (Labriola Baking) and a southeastern ICEE business and a recent licensing agreement of AUNTIE ANNE’S* soft pretzels in the grocery and fund raising channels. These acquisitions are being integrated and we expect further growth for fiscal year 2018.”
J&J Snack Foods Corp. is a leader and innovator in the snack food industry, providing nutritional and affordable branded niche snack foods and beverages to foodservice and retail supermarket outlets. Manufactured and distributed nationwide, our principal products include SUPERPRETZEL, BAVARIAN BAKERY and other soft pretzels, ICEE and SLUSH PUPPIE frozen beverages, LUIGI’S, MINUTE MAID** frozen juice bars and ices, WHOLE FRUIT sorbet and frozen fruit bars, MARY B’S biscuits and dumplings, DADDY RAY’S fig and fruit bars, TIO PEPE’S, CALIFORNIA CHURROS and OREO*** Churros, PATIO Burritos and other handheld sandwiches, THE FUNNEL CAKE FACTORY funnel cakes, and several bakery brands within COUNTRY HOME BAKERS and HILL & VALLEY. For more information, please visit http://www.jjsnack.com.
