• FY sales, earnings up 12%
  • Operating income up 11%
  • Investments made in expanding production

J&J Snack Foods has booked an increase in full-year sales and earnings, as its top- and bottom-line benefited from the growth of core products including soft pretzels and churros. 

In the 12 months to 29 September, sales increased 12% to US$839.8m. Excluding the contribution of an extra week of trading in the fourth-quarter, sales rose 10% in the period.

Full-year net earnings also increased 12% to $52.4m, excluding a $6.6m one-off gain on "bargain grain", up from $48.5m last year. Operating income rose 11% to $85m.

The company said the result was driven by higher sales of core products and increased distribution. J&J added it is well-positioned to continue to expand revenues in the coming year "and beyond", having invested in expanding capacity at its production facilities in Texas, Missouri and New Jersey.

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Pennsauken, NJ, November 8, 2012 - - J & J Snack Foods Corp. (NASDAQ-JJSF) today announced sales and earnings for its fourth quarter and year ended September 29, 2012.

Sales for the fourth quarter (14 weeks) increased 10% to $242.2 million from $219.4 million in last year’s fourth quarter (13 weeks).  For the year ended September 29, 2012 (53 weeks), sales increased 12% to $830.8 million from $744.1 million last year (52 weeks). Excluding sales from the extra week in 2012, sales increased approximately 3% for the fourth quarter and 10% for the year. 

Last year’s third quarter net earnings included a $6.6 million gain on bargain purchase of a business.

Net earnings increased 22% to $19.5 million ($1.03 per diluted share) in this year’s fourth quarter compared to $16.0 million ($0.85 per diluted share) last year and for the year, without the benefit of the bargain gain last year, earnings increased 12% to $54.2 million ($2.86 per diluted share) from $48.5 million ($2.58 per diluted share).

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Original source: J&J Snack Foods