US snack food maker J&J Snack Foods has announced a sharp rise in quarterly earnings, helped by strong sales.
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The company posted net earnings of US$1.8m for the first quarter to 27 December, compared to $1.2m a year earlier.
Sales increased to $79.9m from $77.2m in the year-ago period. Operating income was $2.8m, compared to $1.8m in the year-ago quarter.
“Strong sales from our core pretzel and bakery products, including several newly developed line extensions, helped increase sales and earnings in both our food service and supermarket segments,” said CEO Gerald B. Shreiber.
“The addition of Country Home Bakers at the beginning of our second quarter, a $55m producer of frozen bread, cookies and biscuit products, provides us with a unique opportunity to expand our business. We are focused on integrating this business quickly and efficiently and expect it to be accretive in 2004 and provide significant earnings gains going forward,” he added.
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