US: J&J Snack Foods Q2 earnings jump 24%

By: just-food.com | 23 April 2010

J&J Snack Foods has booked a 24% jump in second-quarter earnings, boosted by a robust performance from both its retail and foodservice divisions.

The nutritional snack maker said that net earnings rose to US$9m in the quarter, up from $7.2m in the comparable period of last year. EPS rose to $0.48, from $0.39 last year.

J&J also booked a strong sales performance, with total revenue rising 5% from $149.4m to $157.4m, the company said in a regulatory filing yesterday (22 April).

“Strong performances by our food service and retail supermarket groups contributed to our record quarter,” Gerald Shreiber, president and CEO, said.

Shreiber emphasised that the group was focused on strengthening its senior management team and ramping up innovation to drive growth.

“Despite the current challenges in the economy, we are optimistic for the future,” he said.

For the first half of the year, J&J said net earnings rose from $11.6m to $16.1m on sales that were up 5% for the six months.

Sectors: Financials, Snacks

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