J & J Snack Foods Corp. (NASDAQ-JJSF) today announced record sales and lower earnings for its second quarter and six months ended March 26, 2011.
Sales increased 3% to $162.7 million from $157.4 million in last year's second quarter. Net earnings decreased 4% to $8.7 million from $9.0 million last year. Earnings per diluted share were $.46 for the March quarter compared to $.48 last year. Operating income decreased 6% to $14.0 million this year from $14.8 million in the year ago period.
For the six months ended March 26, 2011, sales increased 4% to $318.4 million from $306.5 million in last year’s first half. Net earnings decreased 2% to $15.8 million in the six months from $16.1 million last year. Earnings per diluted share were $.84 for the six months compared to $.86 last year. Operating income decreased 5% to $24.9 million from $26.3 million in the year ago period.
Gerald B. Shreiber, J & J’s President and Chief Executive Officer, commented, "Although our overall sales grew modestly, higher input costs and operating expenses impacted our profitability for the period and the six months."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. *MINUTE MAID is a registered trademark of The Coca-Cola Company.