J&J Snack Foods Corp. Reports Sales Gains In Third Quarter And 9-Month Period
J & J Snack Foods Corp., which markets products to the vending industry and other retail channels, announced sales and earnings for its third quarter and nine months ended June 23, 2012.
Sales for the third quarter increased 10 percent to $226.3 million from $206.3 million in last year’s third quarter. For the nine months ended June 23, 2012, sales increased 12 percent to $588.6 million from $524.7 million in the last year’s nine months. Last year’s net earnings for the third quarter and the nine months included a $6.6 million gain on bargain purchase of a business. Without the benefit of this one time gain last year, net earnings increased 12 percent to $18.7 million ($0.99 per diluted share) in this year’s quarter compared to $16.7 million ($0.89 per diluted share) last year and for the nine months, earnings increased 6 percent to $34.6 million ($1.83 per diluted share) from $32.5 million ($1.73 per diluted share) last year.
Last year’s reported net earnings, which included the $6.6 million gain, were $23.3 million ($1.24 per diluted share) for the quarter and $39.1 million ($2.08 per diluted share) for the nine months.
Operating income increased 10 percent to $29.9 million this year from $27.1 million in the year ago period for the quarter. For the nine months, operating income increased 5 percent to $54.6 million from $52.0 million in the year ago period.
Gerald B. Shreiber, J & J’s president and chief executive officer, said in a prepared statement, “All of our business groups contributed to our results for the period. During the quarter, we completed the expansion of our Moscow Mills, MO and Carrollton, TX facilities. We continue to make progress expanding our soft pretzel products, including rolls and Bavarian sticks into new venues.”
J & J Snack Foods Corp.'s principal products include SUPERPRETZEL, PRETZEL FILLERS and other soft pretzels, ICEE, SLUSH PUPPIE and ARCTIC BLAST frozen beverages, LUIGI'S, MAMA TISH'S, SHAPE UPS, MINUTE MAID* and BARQ'S** 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 and CALIFORNIA CHURROS churros, THE FUNNEL CAKE FACTORY funnel cakes, and MRS. GOODCOOKIE, CAMDEN CREEK, COUNTRY HOME and READI-BAKE cookies. J & J has manufacturing facilities in Pennsauken, Bridgeport and Bellmawr, New Jersey; Scranton, Hatfield and Chambersburg, Pennsylvania; Carrollton, Texas; Atlanta, Georgia; Moscow Mills, Missouri; Pensacola, Florida and Colton, Vernon and Norwalk, California.
