US: J&J Snack Foods Q1 profits rebound
By Chris Mercer | 29 January 2013
- Q1 profits leap by 86% to US$10.2m
- Sales up by 11% to $191.4m
- Operating profits up by 78% to $15.1m
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J&J books Q1 gains |
J&J Snack Foods has reported another rise in first-quarter sales and a rebound in profits.
The US snack maker reported net sales up by 11% for the three months to the end of December, to US$191.4m, mirroring its pace of growth in the same period of the previous year.
The difference in the current year was first-quarter profits leapt by 86% to $10.2m, more than recovering ground lost in the first three months of the firm's previous fiscal year.
Operating profits rose to 78% to $15.1m, said the group.
J&J's president and CEO, Gerald Schreiber, said: "Our foodservice and frozen beverage businesses performed well and helped establish record sales and earnings for the quarter."
Pennsauken, NJ, January 28, 2013 - - 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.”
Original source: http://www.jjsnack.com/jjdocumentbank/pdf/PR1QT13_1-28-13.pdf
Sectors: Bakery, Financials, Frozen, Ice cream, Snacks
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