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J & J Snack Foods' Quarterly Earnings Rise

Source: J & J Snack Foods Corp.
30/07/2013

July 29, 2013 - J & J Snack Foods Corp. today announced sales and earnings for the third quarter ended June 29, 2013.

Sales increased 5% to $237.0 million from $226.3 million in last year's third quarter. Net earnings increased 13% to $21.2 million in the current quarter from $18.7 million last year. Earnings per diluted share increased 13% to $1.12 for the third quarter from $.99 last year. Operating income increased 8% to $32.4 million in the current quarter from $29.9 million in the year ago quarter.

For the nine months ended June 29, 2013, sales increased 7% to $629.8 million from $588.6 million in last year's nine months. Net earnings increased 27% to $44.1 million in the nine months from $34.6 million last year. Earnings per diluted share increased to 27% to $2.33 for the nine months from $1.83 last year. Operating income increased 22% to $66.6 million from $54.6 million in the year ago period.

Gerald B. Shreiber, J & J's President and Chief Executive Officer, commented, "Our food service group had an outstanding quarter with strong sales of soft pretzels and churros to new restaurant chain customers and added distribution throughout our customer base. ICEE and frozen beverages had another good quarter."



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