J & J Snack Foods Corp. (NASDAQ:JJSF) today announced sales and earnings for the first quarter ended December 26, 2015.

Sales increased 5% to $222.8 million from $212.8 million in last year’s first quarter. Net earnings increased 11% to $12.5 million in the current quarter from $11.3 million last year.  Earnings per diluted share increased 10% to $.66 for the first quarter from $.60 last year. Operating income increased 11% to $18.4 million in the current quarter from $16.6 million in the year ago quarter.

Gerald B. Shreiber, J & J’s President and Chief Executive Officer, commented, “Led by a particularly  strong performance by our ICEE beverage group, all of our businesses contributed to our improved results in sales and net earnings.”               

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, PHILLY SWIRL, 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, CALIFORNIA CHURROS and TIO PEPE’S churros, PATIO Burritos and other handheld sandwiches, THE FUNNEL CAKE FACTORY funnel cakes, and several cookie brands within COUNTRY HOME BAKERS.  For more information, please visit us at www.jjsnack.com.

*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 26,   December 27,    
    2015       2014      
                   
Net Sales $ 222,850     $ 212,752      
                   
Cost of goods sold   159,015       151,651      
Gross Profit   63,835       61,101      
                   
Operating expenses                  
Marketing    19,629       19,487      
Distribution    18,256       17,521      
Administrative    7,690       7,525      
Other general income   (100 )     (42 )    
Total Operating Expenses    45,475       44,491      
                   
Operating Income   18,360       16,610      
                   
Other income (expense)                  
Investment income   1,160       1,354      
Interest expense & other   (32 )     (24 )    
                   
Earnings before                   
income taxes   19,488       17,940      
                   
Income taxes   7,009       6,684      
                   
NET EARNINGS $ 12,479     $ 11,256      
                   
Earnings per diluted share $ 0.66     $ 0.60      
                   
Weighted average number                   
of diluted shares   18,839       18,801      
                   
Earnings per basic share $ 0.67     $ 0.60      
                   
Weighted average number of                   
basic shares   18,687       18,669      
                   

 

J & J SNACK FOODS CORP. AND SUBSIDIARIES     
CONSOLIDATED BALANCE SHEETS     
(in thousands, except share amounts)     
           
  December 26,   September 26,    
    2015       2015      
  (unaudited)        
           
Cash and cash equivalents $    111,922     $    133,689      
Other current assets     193,331         195,129      
Property, plant and equipment, net   176,646       172,054      
Goodwill   86,442       86,442      
Other intangible assets, net   44,490       45,819      
Marketable securities held to maturity   87,772       66,660      
Marketable securities available for sale   37,508         39,638      
Other    3,527       3,504      
Total $    741,638     $    742,935      
                   
Current Liabilities $    94,211     $ 97,116      
Long-term obligations under capital leases   1,126       1,196      
Deferred income taxes   43,719       43,789      
Other long-term liabilities   888       915      
Stockholders' Equity   601,694       599,919      
Total $    741,638     $ 742,935      
               

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 Ago 2024 a Set 2024 Clicca qui per i Grafici di J and J Snack Foods
Grafico Azioni J and J Snack Foods (NASDAQ:JJSF)
Storico
Da Set 2023 a Set 2024 Clicca qui per i Grafici di J and J Snack Foods