USA: J & J Snack Foods reports 11% rise in Q2 earnings
US food company J & J Snack Foods has reported an 11% rise in second-quarter net earnings, boosted by higher sales.
The company, whose products include pretzels and cookies, posted net earnings of US$3.3m, or 36 cents per share, for the second quarter to 27 March, compared to earnings of $3.0m, or 33 cents per share, in the year-ago quarter.
Sales for the second quarter increased 17% to $95.2m from $81.4m a year earlier. Operating income increased 11% to $5.1m for this year's second quarter from $4.6m in the year ago period.
"We are pleased with our financial performance for the quarter…Excluding our retail restaurant group, all of our businesses, including the recently acquired Country Home Bakers, contributed to our record setting quarter," said Gerald Shreiber, J & J's president and chief executive officer.
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