US: J & J posts record Q2 sales
J & J Snack Foods has announced a record 13% increase in sales during its second quarter, to US$112m.
Net earnings at the snack food specialist increased 9%, at $4.1m, compared to $3.8m in Q2 last year. Operating income increased 5% for the quarter, at $6m this year, from $5.7m in the same period last year.
For the six months ended 25 March 2006, sales increased 11%, at $220.7m, from $197.9m in last year's first half. Net earnings increased 14% to $7.1m the six month period, from $6.3m last year.
Share-based compensation expenses impacted operating income and net earnings in the half-year and quarterly periods.
J & J's president and CEO Gerald Shreiber said: "We are reasonably pleased with our financial performance given the escalating increase in our raw materials, packaging and energy costs. Improvements in our food service and ICEE business contributed to our increased earnings."
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