This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

J & J Snack Foods Reports First Quarter Sales And Earnings

PENNSAUKEN, N.J., Jan. 28, 2013 (GLOBE NEWSWIRE) -- 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.
 (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
 (in thousands, except share amounts)
  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

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.70 -0.60%
FB $101.91 0.90%
GOOG $683.11 -0.15%
TSLA $150.47 4.73%
YHOO $26.76 -1.25%


Chart of I:DJI
DOW 15,660.18 -254.56 -1.60%
S&P 500 1,829.08 -22.78 -1.23%
NASDAQ 4,266.8370 -16.7550 -0.39%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs