J & J Snack Foods Reports First Quarter Sales and Earnings
28 Gennaio 2013 - 10:00PM
J & J Snack Foods Corp. (Nasdaq:JJSF) today announced sales and
earnings for the first quarter ended December 29, 2012.
Sales increased 11% to $191.4 million from $172.7 million in
last year's first quarter. Net earnings increased 86% to $10.2
million in the current quarter from $5.5 million last year.
Earnings per diluted share increased 86% to $.54 for the first
quarter from $.29 last year. Operating income increased 78% to
$15.1 million in the current quarter from $8.5 million in the year
ago quarter.
Gerald B. Shreiber, J & J's President and Chief Executive
Officer, commented, "Our foodservice and frozen beverage businesses
performed well and helped establish record sales and earnings for
the quarter."
J & J Snack Foods Corp.'s principal products include
SUPERPRETZEL, PRETZEL FILLERS and other soft pretzels, ICEE and
SLUSH PUPPIE frozen beverages, LUIGI'S, MAMA TISH'S, SHAPE UPS, and
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 and CALIFORNIA CHURROS churros, THE
FUNNEL CAKE FACTORY funnel cakes, MRS. GOODCOOKIE, CAMDEN CREEK,
COUNTRY HOME and READI-BAKE cookies, PATIO burritos and HAND FULLS
and HOLLY RIDGE BAKERY filled handheld products. 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; Colton, Vernon and Norwalk,
California; Holly Ridge, North Carolina; and Weston, Oregon.
*MINUTE MAID is a registered trademark of The Coca-Cola
Company.
J & J SNACK FOODS
CORP. AND SUBSIDIARIES |
CONSOLIDATED STATEMENTS
OF EARNINGS |
(Unaudited) |
(in thousands, except per
share amounts) |
|
|
Three months
ended |
|
December 29, |
December 24, |
|
2012 |
2011 |
|
|
|
Net Sales |
$191,408 |
$172,686 |
|
|
|
Cost of goods sold |
137,273 |
126,280 |
Gross Profit |
54,135 |
46,406 |
|
|
|
Operating expenses |
|
|
Marketing |
17,136 |
17,659 |
Distribution |
15,400 |
14,219 |
Administrative |
6,599 |
6,066 |
Other general income |
(61) |
(1) |
|
39,074 |
37,943 |
|
|
|
Operating Income |
15,061 |
8,463 |
|
|
|
Other income (expense) |
|
|
Investment income |
776 |
355 |
Interest expense & other |
(25) |
(39) |
|
|
|
Earnings before income taxes |
15,812 |
8,779 |
|
|
|
Income taxes |
5,586 |
3,294 |
|
|
|
NET EARNINGS |
$10,226 |
$5,485 |
|
|
|
Earnings per diluted share |
$0.54 |
$0.29 |
|
|
|
Weighted average number of diluted
shares |
18,870 |
18,874 |
|
|
|
Earnings per basic share |
$0.54 |
$0.29 |
|
|
|
Weighted average number of basic
shares |
18,807 |
18,806 |
|
|
CONSOLIDATED
BALANCE SHEETS |
(in thousands,
except share amounts) |
|
|
|
|
(unaudited) |
|
|
December 29, |
September 29, |
|
2012 |
2012 |
Cash and cash equivalents |
$ 80,216 |
$ 154,198 |
Current marketable securities held to
maturity |
976 |
1,214 |
Other current assets |
150,516 |
152,656 |
Property, plant and equipment, at cost |
141,950 |
141,544 |
Goodwill |
76,899 |
76,899 |
Other intangible assets, net |
47,345 |
48,464 |
Marketable securities held to maturity |
24,998 |
24,998 |
Marketable securities available for sale |
80,029 |
-- |
Other |
3,309 |
3,071 |
Total |
$ 606,238 |
$ 603,044 |
|
|
|
Current Liabilities |
$ 78,037 |
$ 81,505 |
Long-term obligations under capital
leases |
281 |
347 |
Deferred income taxes |
44,954 |
44,874 |
Other long-term liabilities |
776 |
831 |
Stockholders' Equity |
482,190 |
475,487 |
Total |
$ 606,238 |
$ 603,044 |
The forward-looking statements contained herein are subject to
certain risks and uncertainties that could cause actual results to
differ materially from those projected in the forward-looking
statements. Readers are cautioned not to place undue reliance
on these forward-looking statements, which reflect management's
analysis only as of the date hereof. The Company undertakes no
obligation to publicly revise or update these forward-looking
statements to reflect events or circumstances that arise after the
date hereof.
CONTACT: Dennis G. Moore
Senior Vice President
Chief Financial Officer
(856) 532-6603
Grafico Azioni J and J Snack Foods (NASDAQ:JJSF)
Storico
Da Set 2024 a Ott 2024
Grafico Azioni J and J Snack Foods (NASDAQ:JJSF)
Storico
Da Ott 2023 a Ott 2024